If the commissioner finds that any activity performed by an insured depository institution as agent for a California industrial loan company is not an authorized agency activity or that the agency arrangement is inconsistent with safe and sound practices, the commissioner may order the California industrial loan company to terminate the agency arrangement.
(Amended by Stats. 1996, Ch. 887, Sec. 65. Effective September 25, 1996.)
Last modified: October 25, 2018