84-5

July 24, 1984

Dear Mr. __________:

This is in reply to your letter of July 19, 1984.

________, the wholly owned subsidiary of Bank of ________ pursuant to the provisions of California Financial Code Section 751.3, may properly act as trustee under deeds of trust given for the purpose of securing obligations to the bank.

No specific approval of the State Banking Department is required.

Very truly yours,

LOUIS CARTER
Superintendent of Banks

By

RONALD W. COLEMAN
Deputy Superintendent of Banks

July 19, 1984

Mr. Ronald Coleman

Dear Ron:

As you know our Bank formed a ________ on January 3, 1984 as permitted by law.

The purpose of this letter is to inquire whether our wholly owned subsidiary, ________ can legally act as Trustee for loans made by ________ where the ___________ is the beneficiary? If we can do so, then we are of the opinion that our fee income can be substantially increased.

Your prompt opinion to our question will be greatly appreciated.

Cordially,