California Financial Code ARTICLE 2 - Commissioner of Business Oversight

• Section 320.
  (a)  The chief officer of the Department of Business Oversight is the Commissioner of Business Oversight. The Commissioner of Business Oversight is the head of...
• Section 321.
  (a) In this section, “order” means any approval, consent, authorization, exemption, denial, prohibition, requirement, or other administrative action, applicable to a specific case.(b) The office of the...
• Section 322.
  The commissioner is appointed by the Governor, and holds office at the pleasure of the Governor. The appointment of the commissioner is subject to confirmation...
• Section 323.
  The commissioner shall be a citizen of the United States and a resident of the state for at least three years prior to his or...
• Section 324.
  The annual salary of the commissioner is provided for by Chapter 6 (commencing with Section 11550) of Part 1 of Division 3 of Title 2...
• Section 325.
  Before entering upon the duties of his or her office, the commissioner shall take and subscribe to the constitutional oath of office and file the...
• Section 326.
  The Commissioner of Business Oversight is responsible for the performance of all duties, the exercise of all powers and jurisdiction, and the assumption and discharge...
• Section 327.
  (a) The commissioner shall apply the Interagency Guidance on Nontraditional Mortgage Product Risks issued in September 2006 and the Statement on Subprime Mortgage Lending issued in...
• Section 328.
  (a) The commissioner may make the agreements that he or she deems necessary or appropriate in exercising his or her powers.(b) (1) The agreements authorized under subdivision (a)...
• Section 329.
  (a) For purposes of this section, the following definitions apply:(1) “Applicable law” means:(A) With respect to any bank, Division 1.6 (commencing with Section 4800), and any of the...
• Section 330.
  The authority vested in the Superintendent of Banks under subdivision (2) of Section 1 of Article XV of the California Constitution is delegated to the...
• Section 331.
  Notwithstanding any other provision of law, the commissioner may adopt and implement any method of accepting electronic filings of applications, reports, or other matters, which,...
• Section 332.
  (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,...
• Section 333.
  The powers of supervision and examination of all licensees are vested in the commissioner.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January...
• Section 334.
  The commissioner may promulgate or waive such rules and regulations as may be reasonable or necessary to carry out his or her duties and responsibilities.(Added...
• Section 335.
  (a) The commissioner, whenever in his or her opinion such action is necessary or appropriate to carry out his or her duties, may call a meeting...
• Section 336.
  The commissioner may, at any time, require a licensee to write down any asset held by the licensee to a valuation that will represent the...
• Section 337.
  (a) The commissioner, when conducting examinations under Section 500, 14250, 16150, or 16700, shall examine a licensee that maintains a correspondent account or payable-through account for...

Last modified: October 22, 2018