Section 16649.83 shall not apply to any financial institution which, by resolution of its governing body, adopts a policy not to renew existing, expand existing, or engage in new, discriminatory business practices in furtherance of or in compliance with the Arab League’s economic boycott of Israel. The resolution required by this section shall include the following statement: “____ (name of financial institution) agrees not to renew existing, expand existing, or engage in new, discriminatory business practices in furtherance of or in compliance with the Arab League’s economic boycott of Israel.”
(Amended by Stats. 1993, Ch. 439, Sec. 4. Effective January 1, 1994.)