"Financial institution" means a state or national bank, state or federal savings and loan association or credit union, or like organization, and includes a corporation engaged in a safe deposit business.
§ 481.113.Financial Institution
Title 6.5. Attachment · Chapter 1. Words and Phrases Defined · Enacted 1982 · no amendments on record · Last verified July 28, 2026
In one sentenceSection 481.113 defines "financial institution" as a state or national bank, a state or federal savings and loan association or credit union, or a like organization, including a corporation engaged in the safe-deposit business.
Full Text of § 481.113
Plain-English Summary
This definition identifies where a levying officer serves a notice of attachment to reach a defendant’s deposit account or safe-deposit box. It covers the familiar range of depository institutions — banks, savings and loans, and credit unions — and expressly includes a corporation whose business includes offering safe-deposit boxes, even if that is not its primary function.
Frequently Asked Questions
Does "financial institution" include credit unions?
Yes. Section 481.113 expressly includes state or federal credit unions along with banks and savings and loan associations.
Does the definition cover a company that only offers safe-deposit boxes?
Yes. Section 481.113 includes a corporation engaged in the safe-deposit business within the definition of financial institution, not only banks and depository institutions.
Amendment History
Added by Stats. 1982, Ch. 1198, Sec. 9. Operative July 1, 1983, by Sec. 70 of Ch. 1198.
Source & verification. Section text is reproduced verbatim from
the Deering's California Codes Annotated / vLex. Enacted by the California Legislature.
Last verified July 28, 2026.
· Official source
Also known as: financial institution definition california attachmentsafe deposit box attachment california