California Financial Code — Banking — Industrial Banks — Industrial Bank Business — Insured bank while engaged in business Date: 14 Sep 2016 TEXT PDF Current through the 2016 Legislative Session Each industrial bank shall be an insured bank at all times while it is engaged in the industrial banking business. Ca. Fin. Code § 1540 Added by Stats 2012 ch 243 (SB 664),s 3, eff. 1/1/2012.