(a)

(1) In this section, “federal law” includes, but is not limited to, the United States Constitution, any federal statute, any federal court decision, and any regulation, circular, bulletin,

interpretation, decision, order, and waiver issued by a federal agency.

(2) The

definitions set forth in

Section apply to this section. (b)

(1) Notwithstanding any other provision of law, except as provided in subdivision (c), if the commissioner finds that any provision of federal law applicable to national banking associations doing business in this state is substantively different from the provisions of this code applicable to banks organized under the laws of this state, the commissioner may by regulation make that provision of federal law applicable to banks organized under the laws of this state.

(2) If the commissioner finds that any provision of federal law applicable to foreign (other nation) banks with respect to federal agencies or federal branches in this state is substantively different from the provisions of this code applicable to foreign (other nation) banks with respect to agencies or branch offices licensed by the commissioner under

Chapter 20 (commencing with

Section 1750) of Division 1.1, the commissioner may by regulation make that provision of federal law applicable to foreign (other nation) banks with respect to agencies or branch offices licensed by the commissioner under

Chapter 20 (commencing with

Section 1750) of Division 1.1. (c)

(1) Section 11343.4 and

Article 5 (commencing with

Section 11346) and

Article 6 (commencing with

Section 11349) of

Chapter 3.5 of Part of Division of Title of the Government Code do not apply to any regulation adopted under subdivision (b).

(2) The commissioner shall file any regulation adopted pursuant to subdivision (b), together with a citation to this

section as authority for the adoption and a citation to the provisions of federal law made applicable by the regulation, with the Office of Administrative Law for filing with the Secretary of State and publication in the California Code of Regulations.

(3) Any regulation adopted under subdivision (

b) shall become effective on the date when it is filed with the Secretary of State unless the commissioner prescribes a later date in the regulation or in a written instrument filed with the regulation.

(4) Any regulation adopted under subdivision (

b) shall expire at p.m. on December of the year following the calendar year in which it becomes effective.

(5) Any regulation adopted pursuant to subdivision (

b) shall be subject to the following restrictions: (

A) The commissioner shall not renew or reinstate the regulation adopted pursuant to subdivision (b). (

B) The commissioner shall not adopt a new regulation pursuant to subdivision (b), to address the same conformity issue that was addressed by the regulation that expired pursuant to subdivision (c). (

d) The commissioner may adopt regulations pursuant to subdivision (

b) that are exempt from the expiration and restrictions of subdivision (

c) if the regulations are adopted in compliance with all provisions of

Chapter 3.5 (commencing with

Section 11340) of Part of Division of the Government Code, including those listed in paragraph (1) of subdivision (c).