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• California Financial Code Section 1
  This act is known and may be cited as the Financial Code.
• California Financial Code Section 2
  The provisions of this code insofar as they are substantially the same as existing statutory provisions relating to the same subject matter shall be construed...
• California Financial Code Section 3
  Any action or proceeding commenced before this code takes effect, or any right accrued, is not affected by this code, but all procedure taken shall...
• California Financial Code Section 4
  Unless the context otherwise requires the general provisions hereinafter set forth govern the construction of this code.
• California Financial Code Section 5
  Division, part, chapter, article, and section headings do not in any manner affect the scope, meaning, or intent of the provisions of this code.
• California Financial Code Section 6
  Whenever a power is granted to, or a duty imposed on any person or board by any provision of this code, it may be exercised...
• California Financial Code Section 7
  Whenever any reference is made to any portion of this code or of any other law, the reference applies to all amendments and additions thereto,...
• California Financial Code Section 8
  Writing includes any form of recorded message capable of comprehension by ordinary visual means. Whenever any notice, report, statement, or record is required or authorized...
• California Financial Code Section 9
  "Section" means a section of this code unless some other statute is specifically mentioned, and "subdivision" means a subdivision of the section in which the...
• California Financial Code Section 10
  The present tense includes the past and future tenses; and the future, the present.
• California Financial Code Section 11
  The masculine gender includes the feminine and neuter.
• California Financial Code Section 12
  The singular number includes the plural and the plural the singular.
• California Financial Code Section 13
  "City" includes incorporated city, city and county, municipal corporation, municipality, town and incorporated town.
• California Financial Code Section 14
  "County" includes city and county.
• California Financial Code Section 15
  "Shall" is mandatory and "may" is permissive.
• California Financial Code Section 16
  "Oath" includes affirmation.
• California Financial Code Section 17
  "Signature" or "subscription" includes mark. The mark shall be made as required in the Civil Code.
• California Financial Code Section 18
  "Person" includes any person, firm, partnership, association, corporation, company, limited liability company, syndicate, estate, trust, business trust, or organization of any kind.
• California Financial Code Section 19
  If any provision of this code, or its application to any person or circumstance, is held invalid, the remainder of the code, or the application...
• California Financial Code Section 20
  The existence of corporations formed or existing on the date this code takes effect is not affected by the enactment of this code nor by...
• California Financial Code Section 21
  All persons who, at the time this code goes into effect, hold office under any of the acts repealed by this code, which offices are...
• California Financial Code Section 22
  Notwithstanding any other provision of this code, Chapter 10 (commencing with Section 10000) of Division 2 shall be known and may be cited as the...
• California Financial Code Section 99
  This division is known and may be cited as the "Banking Law."
• California Financial Code Section 100
  This division is applicable to the following: (a) All corporations engaging in commercial banking, industrial banking, or the trust business. (b) All national banking associations...
• California Financial Code Section 100.5
  If and to the extent that any provision of this division is preempted by federal law, the provision does not apply and shall not be
• California Financial Code Section 101
  (a) A California state bank is a corporation incorporated under Division 1 (commencing with Section 100) of the Corporations Code that is, with the approval...
• California Financial Code Section 102
  The word "bank" as used in this division means any incorporated banking institution that shall have been incorporated to engage in commercial banking business, industrial...
• California Financial Code Section 103
  Banks are divided into the following classes: (a) Commercial banks. (b) Industrial banks. (c) Trust companies.
• California Financial Code Section 105
  "Commercial bank" means a corporation organized for the purpose of engaging in the commercial banking business.
• California Financial Code Section 105.2
  "Commercial banking business" includes, but is not limited to, the business of soliciting, receiving, or accepting of money or its equivalent on deposit as a...
• California Financial Code Section 105.5
  "Industrial bank" means a corporation organized for the purpose of engaging in the industrial banking business.
• California Financial Code Section 105.7
  "Industrial banking business" includes the making of loans and acceptance of deposits, including deposits evidenced by investment or thrift certificates, but excluding demand deposits.
• California Financial Code Section 106
  "Trust business" means the business of acting as executor, administrator, guardian or conservator of estates, assignee, receiver, depositary or trustee under the appointment of any...
• California Financial Code Section 107
  "Trust company" means a corporation, industrial bank, or a commercial bank that is authorized to engage in the trust business.
• California Financial Code Section 107.5
  It shall be unlawful for any person, corporation, limited liability company, partnership, firm, or any other form of business entity allowed by law, to engage...
• California Financial Code Section 109
  "Bank" or "banks" includes commercial banks, industrial banks, and trust companies unless the context otherwise requires. However, "bank" does not include a savings association or...
• California Financial Code Section 110
  "Office" includes head office, branch office, and any other authorized place of business of a bank. "Head office" means the principal place of business of...
• California Financial Code Section 111
  "Real property" and "personal property" have the meanings defined in and shall be construed in accordance with Title 1, Part 1, Division 2, Civil Code...
• California Financial Code Section 112
  "Commissioner" means the Commissioner of Financial Institutions and "department" means the Department of Financial Institutions.
• California Financial Code Section 113
  "Person" means an individual, sole proprietorship, partnership, joint venture, association, trust, estate, business trust, corporation, joint stock company, limited liability company, unincorporated association, sovereign government...
• California Financial Code Section 115
  Unless the provision or the context otherwise requires, the definitions set forth in this chapter govern the construction of this division.
• California Financial Code Section 116
  No corporation shall hereafter be organized under the laws of this state to transact the business of a commercial bank, industrial bank, or trust company...
• California Financial Code Section 117
  Neither the enactment of this code nor the amendment or repeal thereof nor the repeal of any statute affected thereby shall take away or impair...
• California Financial Code Section 118
  (a) All references in this division and in Division 1 (commencing with Section 100), Title 1 of the Corporations Code to financial statements, balance sheets,...
• California Financial Code Section 119
  References in this division to the voting of shares shall be construed in accordance with Section 111 of the Corporations Code.
• California Financial Code Section 120
  If the articles of a bank provide for more or less than one vote for any share on any matter, the references in Sections 123...
• California Financial Code Section 121
  Any requirement in this division for a vote of each class of outstanding shares shall be construed in accordance with Section 117 of the Corporations
• California Financial Code Section 122
  "Approved by (or approval of) the board" means approved or ratified by the vote of the board or by the vote of a committee authorized...
• California Financial Code Section 123
  "Approved by (or approval of) the outstanding shares" has the meaning set forth in Section 152 of the Corporations Code and shall include approval by...
• California Financial Code Section 124
  "Approved by (or approval of) the shareholders" has the meaning set forth in Section 153 of the Corporations Code and shall include approval or ratification...
• California Financial Code Section 125
  "Articles" has the meaning set forth in Section 154 of the Corporations Code.
• California Financial Code Section 126
  "Board" has the meaning set forth in Section 155 of the Corporations Code.
• California Financial Code Section 126.5
  "California" means: (a) When used with respect to a bank, in the case of a state bank, a bank that is organized under the laws...
• California Financial Code Section 126.7
  "CAMELS composite rating" shall have the meaning set forth in Section 327.8(j) of Title 12 of the Code of Federal Regulations.
• California Financial Code Section 127
  "Certificate of correction" means a certificate executed and filed with the Secretary of State pursuant to Section 109 of the Corporations Code, subject, however, to...
• California Financial Code Section 128
  "Certificate of determination" has the meaning set forth in Section 156 of the Corporations Code, subject, however, to the provisions of Section 600.8.
• California Financial Code Section 129
  "Certificate of revocation" means a certificate executed and filed with the Secretary of State pursuant to the second and third sentences of subdivision (c) of...
• California Financial Code Section 130
  "Common shares" has the meaning set forth in Section 159 of the Corporations Code.
• California Financial Code Section 131
  (a) "Confidential information" means any information regarding a licensee contained in, or related to, any of the following: (1) Applications filed with the commissioner. (2)...
• California Financial Code Section 132
  "Constituent corporation," when used with respect to a corporation: (a) In the case of a merger, has the meaning set forth in Section 161 of...
• California Financial Code Section 134
  "Contributed capital" means all of shareholders' equity other than retained earnings. However, nothing in this section shall prohibit a bank from transferring amounts from time...
• California Financial Code Section 134.5
  "Credit union" means a corporation of the type described in Section 14002 organized under the laws of this state or a corporation of similar type...
• California Financial Code Section 135
  "Directors" has the meaning set forth in Section 164 of the Corporations Code.
• California Financial Code Section 137
  "Disappearing," when used with respect to a corporation, means a constituent corporation that is not the surviving corporation.
• California Financial Code Section 139
  "Distribution to its shareholders" has the meaning set forth in Section 166 of the Corporations Code. However, in Division 1 (commencing with Section 100), Title...
• California Financial Code Section 139.2
  (a) "Foreign," when used with respect to a bank, an office of a bank, or any corporation other than a bank, means foreign (other nation)...
• California Financial Code Section 139.3
  "Foreign nation" means any nation other than the United States, including, without limitation, any subdivision, territory, trust territory, dependency, colony, or possession of any nation...
• California Financial Code Section 139.4
  (a) The definition of "state of the United States" in Section 146.7 does not apply to this section. In this section, "state of the United...
• California Financial Code Section 139.5
  "Foreign (other state)": (a) When used with respect to a bank, means a bank that is organized under the laws of any state of the...
• California Financial Code Section 139.7
  "Insured:" (a) When used with respect to a bank or an office of a bank, means a bank or office the deposits of which are...
• California Financial Code Section 139.9
  "Law of the domicile" means: (a) When used with respect to a national bank, the law of the United States. (b) When used with respect...
• California Financial Code Section 139.95
  "Licensee" has the following meanings: (a) Any bank authorized by the commissioner pursuant to Section 401 to transact banking or trust business. (b) Any industrial...
• California Financial Code Section 140
  "Majority-owned subsidiary" has the meaning set forth for "subsidiary" in subdivision (a) of Section 189 of the Corporations Code.
• California Financial Code Section 140.3
  (a) "National bank" or "national banking association" means a national banking association organized under the National Bank Act. (b) For purposes of this division, a...
• California Financial Code Section 140.5
  "Officers' certificate" has the meaning set forth in Section 173 of the Corporations Code.
• California Financial Code Section 142
  "Resulting," when used with respect to a corporation, means: (a) In the case of a consolidation, the corporation into which the constituent corporations are consolidated....
• California Financial Code Section 142.5
  "ROCA supervisory rating" shall have the meaning set forth in Section 327.8(k) of Title 12 of the Code of Federal Regulations.
• California Financial Code Section 143
  "Savings association" includes a savings association, a savings and loan association, and a savings bank. However, "savings association" does not include any savings bank of...
• California Financial Code Section 144
  "Series," when used with respect to shares, has the meaning set forth in Section 183 of the Corporations Code.
• California Financial Code Section 145
  "Shares" has the meaning set forth in Section 184 of the Corporations Code.
• California Financial Code Section 146
  "Shareholder" has the meaning set forth in Section 185 of the Corporations Code.
• California Financial Code Section 146.3
  "State": (a) When used with respect to a corporation, means a corporation that is organized under the laws of a state of the United States....
• California Financial Code Section 146.7
  "State of the United States" means any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam,...
• California Financial Code Section 148
  "Surviving," when used with respect to a corporation, means a corporation in which one or more other corporations are merged.
• California Financial Code Section 148.5
  "Uniform Interagency Trust Rating System (UITRS)" shall have the meaning set forth in the policy statement regarding the uniform interagency trust rating system published by...
• California Financial Code Section 149.3
  "Uniform Rating System for Informational Technology (URSIT)" shall have the meaning set forth in the policy statement regarding the uniform rating system for information technology...
• California Financial Code Section 150
  "Vote" has the meaning set forth in Section 194 of the Corporations Code.
• California Financial Code Section 151
  "Voting power" has the meaning set forth in Section 194.5 of the Corporations Code.
• California Financial Code Section 180
  In this chapter, unless the provision or context requires otherwise: (a) "New General Corporation Law" means Division 1 (commencing with Section 100), Title 1 of...
• California Financial Code Section 181
  For purposes of Chapter 23 (commencing with Section 2300) of the new General Corporation Law, in the case of any subject institution existing on January...
• California Financial Code Section 182
  (a) Sections 600 and 600.2 of the revised Banking Law shall not apply to any subject institution existing on January 1, 1979, unless and until...
• California Financial Code Section 184
  In case the board of a subject institution has, prior to January 1, 1979, adopted a resolution levying an assessment on the common shares of...
• California Financial Code Section 185
  Article 3 (commencing with Section 640), Chapter 5 of the revised Banking Law applies to any distribution to its shareholders made after January 1, 1979,...
• California Financial Code Section 200
  (a) In this section: (1) "Business and industrial development corporation" means a corporation licensed under Division 15 (commencing with Section 31000). (2) "Payment instrument" has...
• California Financial Code Section 201
  This chapter is applicable to this division, Division 1 (commencing with Section 99), Division 1.5 (commencing with Section 4800), Division 5 (commencing with Section 14000),...
• California Financial Code Section 210
  The chief officer of the Department of Financial Institutions is the Commissioner of Financial Institutions. The Commissioner of Financial Institutions is the head of the...
• California Financial Code Section 210.5
  As of the operative date of this section: (a) In this section, "order" means any approval, consent, authorization, exemption, denial, prohibition, requirement, or other administrative...
• California Financial Code Section 211
  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...
• California Financial Code Section 212
  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...
• California Financial Code Section 213
  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...
• California Financial Code Section 214
  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...
• California Financial Code Section 215
  The commissioner is responsible for the performance of all duties, the exercise of all powers and jurisdiction, and the assumption and discharge of all responsibilities...
• California Financial Code Section 215.5
  (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...
• California Financial Code Section 216
  (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...
• California Financial Code Section 216.3
  (a) For purposes of this section, the following definitions apply: (1) "Applicable law" means: (A) With respect to any bank, Division 1.5 (commencing with Section...
• California Financial Code Section 217
  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
• California Financial Code Section 218
  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,...
• California Financial Code Section 219
  (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...
• California Financial Code Section 230
  The commissioner shall appoint a chief deputy who holds office at the pleasure of the commissioner. The annual salary of the chief deputy shall be...
• California Financial Code Section 231
  The commissioner may employ deputies in addition to the chief deputy, and examiners, appraisers, technical assistants, investigators, administrative assistants, clerks, and other employees that he...
• California Financial Code Section 232
  Before entering upon the duties of his office each deputy and examiner shall take and subscribe to the constitutional oath of office and file the...
• California Financial Code Section 233
  The commissioner may require, at any time, of any deputy, examiner, or other employee of the department, an official bond in such amount as the...
• California Financial Code Section 234
  Neither the commissioner nor any deputy or employee of the department shall do or be any of the following with respect to any bank, savings...
• California Financial Code Section 235
  If the commissioner is unable to perform his or her duties for more than 30 consecutive days or if the office of the commissioner becomes...
• California Financial Code Section 250
  The commissioner may have an office in the City of Sacramento, the City of Los Angeles, the City of San Diego, the City and County...
• California Financial Code Section 251
  The department may expend moneys in accordance with law for the necessary travel expenses of officers and employees of the department while traveling in the...
• California Financial Code Section 252
  The commissioner shall adopt and keep an official seal. Papers executed by the commissioner in his or her official capacity pursuant to law and bearing...
• California Financial Code Section 253
  (a) Whenever it is necessary for the commissioner to approve any instrument and to affix his or her official seal thereto, the commissioner shall charge...
• California Financial Code Section 255
  Official reports made by the commissioner and verified reports of an examination made by the commissioner, exclusively or in conjunction with or with assistance from...
• California Financial Code Section 258
  At least once each month, the commissioner shall issue and disseminate as the commissioner deems appropriate a bulletin containing the following information: (a) Information regarding...
• California Financial Code Section 259
  Notwithstanding any other provision of this code, whenever any provision of this division requires the pledge of securities to be deposited with the Treasurer, to...
• California Financial Code Section 260
  Whenever the commissioner is notified of or discovers a violation of the state law punishable by criminal penalties, he or she shall promptly advise the...
• California Financial Code Section 261
  (a) For the purposes of this section the following definitions shall apply: (1) "Control" has the meaning set forth in subdivision (b) of Section 700....
• California Financial Code Section 262
  (a) The commissioner shall inform the Commissioner of Corporations and other appropriate state and federal officials charged with the regulation of financial institutions or securities...
• California Financial Code Section 263
  Chapter 5 (commencing with Section 11500) of Part 1 of Division 3 of Title 2 of the Government Code does not apply to hearings conducted...
• California Financial Code Section 265
  As of the operative date of this section, there is established a Financial Institutions Fund in the State Treasury. Except as otherwise provided in Division...
• California Financial Code Section 270
  (a) The commissioner shall annually collect pro rata from the banks and trust companies under the supervision of the department a fund in amount sufficient...
• California Financial Code Section 271
  The commissioner shall annually collect from national banking associations and foreign (other state) banks operating trust departments in this state an annual assessment to meet...
• California Financial Code Section 271.5
  Whenever the commissioner makes an assessment pursuant to Section 270 or 271, the commissioner shall fix the date when the assessment is due and payable...
• California Financial Code Section 272
  The commissioner, in addition to the annual assessment, shall collect from each bank authorized to engage in the trust business, to defray the cost of...
• California Financial Code Section 273
  If any bank or trust company fails to make timely payment of any assessment made pursuant to Section 270, 271, or 272, the commissioner may,...
• California Financial Code Section 273.5
  As of the operative date of this section: (a) The State Banking Fund is converted into a separate account in the Financial Institutions Fund and...
• California Financial Code Section 274
  Except as otherwise provided in Section 276 or 277, all salaries and other expenses of the department, other than those incurred in administering laws relating...
• California Financial Code Section 275
  The commissioner shall deliver all moneys received or collected by the commissioner under Section 270, 271, or 272 or otherwise, other than moneys received or...
• California Financial Code Section 276
  (a) In this section, "assessment statute" means any statute that authorizes the commissioner to make or collect an assessment (other than a fine) on financial...
• California Financial Code Section 277
  Notwithstanding any other provision of this code or of Section 53667 of the Government Code, the commissioner may, at any time during a fiscal year,...
• California Financial Code Section 280
  (a) In this section, "governmental agency" includes, without limitation, any agency of this state, of any other state of the United States, of the United...
• California Financial Code Section 281
  With the prior approval of the commissioner, a foreign (other state) or foreign (other nation) financial institutions regulatory agency may examine a licensee and any...
• California Financial Code Section 282
  (a) Directors, officers, employees, attorneys, accountants, or consultants of a licensee may not disclose in any manner to any person confidential information regarding the licensee...
• California Financial Code Section 283
  Every licensee shall make and file with the commissioner whenever required by him or her a report in any form as the commissioner may prescribe...
• California Financial Code Section 284
  The commissioner shall call for the report specified in Section 283 from all licensees at least four times each year upon dates selected by the
• California Financial Code Section 285
  The commissioner may at any time require any licensee to make and file with him or her a special report furnishing any information as the...
• California Financial Code Section 286
  Every licensee shall keep its corporate records, financial records, and books of account in words and figures of the English language and in form satisfactory...
• California Financial Code Section 287
  Every licensee shall notify the commissioner of any change in the following officers of the licensee, to the extent that those officers exist within the...
• California Financial Code Section 288
  (a) Each report required under this article, or under any other provision of law administered by the commissioner, shall be filed with the commissioner at...
• California Financial Code Section 289
  (a) Every licensee shall file with the commissioner one copy of all material filed by the licensee with any applicable federal financial institutions regulatory agency,...
• California Financial Code Section 290
  Any person intentionally making a false statement in any report required to be rendered under this article or other provision of law administered by the...
• California Financial Code Section 350
  When authorized by the commissioner as provided in this chapter a corporation may be formed by one or more persons in accordance with the laws...
• California Financial Code Section 351
  No bank shall be a close corporation (as defined in Section 158 of the Corporations Code).
• California Financial Code Section 360
  The request for authority to organize and establish a corporation to engage in the banking or trust business shall be set forth in an application...
• California Financial Code Section 360.5
  Upon receiving a request for an application, the commissioner shall inform the prospective applicant in writing that the commissioner is available to confer with such...
• California Financial Code Section 361
  Upon the filing of an application the commissioner shall make or cause to be made a careful investigation and examination relative to the following: (a)...
• California Financial Code Section 362
  The commissioner may give or withhold his or her approval of the application in his or her discretion, but he or she shall not approve...
• California Financial Code Section 362.5
  (a) In this section: (1) "Control" has the meaning set forth in Section 700. (2) "Officer" has the meaning set forth in Section 33057. (b)...
• California Financial Code Section 363
  At least 30 days before denying an application, the commissioner shall by mail or other method of service give written notice of the intended denial...
• California Financial Code Section 364
  The commissioner may, in approving an application to organize and establish a corporation to engage in the banking or trust business pursuant to Section 362,...
• California Financial Code Section 365
  (a) With the approval of the commissioner, a bank may be formed to facilitate a merger or an acquisition of control. The new bank may...
• California Financial Code Section 399
  In this article: (a) "Preopening expenditure" means any obligation incurred, or sum disbursed, by a bank prior to the time when it commences to transact...
• California Financial Code Section 400
  The articles of incorporation of the proposed bank or trust company shall be submitted to the commissioner for his or her approval before they are...
• California Financial Code Section 401
  If the commissioner finds that the proposed bank or trust company has in good faith complied with all the requirements of law and fulfilled all...
• California Financial Code Section 402
  It shall be unlawful to accept payment of subscriptions for shares of any corporation proposing to engage in the banking or trust business unless authority...
• California Financial Code Section 403
  No corporation organized to transact a commercial banking or trust business shall transact any business until the commissioner has issued his or her certificate authorizing...
• California Financial Code Section 404
  If the proposed bank or trust company fails to file evidence of incorporation and organization with the commissioner pursuant to Section 400 within one year...
• California Financial Code Section 405
  If the proposed bank or trust company fails to open for business within 90 days after the issuance of the certificate of authorization, the right...
• California Financial Code Section 406
  It is unlawful to apply any part of the funds collected from subscribers or shareholders to the payment of commissions or fees for obtaining subscriptions...
• California Financial Code Section 407
  Every bank and trust company shall keep posted in a conspicuous place in its banking room at its head office the certificate of authority to...
• California Financial Code Section 500
  For purposes of this chapter, the following definitions apply: (a) "Automated teller machine" means any electronic information processing device used by a financial institution and...
• California Financial Code Section 501
  The commissioner shall issue a certificate in duplicate authorizing a bank to establish and maintain an office. A bank shall pay a fee of twenty-five...
• California Financial Code Section 502
  Every bank shall establish and maintain a head office which shall be located in this state.
• California Financial Code Section 503
  A bank, with the approval of its board, may establish and maintain one or more offices.
• California Financial Code Section 504
  A bank, with the approval of its board, may relocate an office.
• California Financial Code Section 505
  A bank, with the approval of its board, may redesignate offices.
• California Financial Code Section 506
  Each time a bank establishes an office, relocates an office, or redesignates an office, the bank shall, within 10 days of the establishment, relocation, or...
• California Financial Code Section 507
  On or before January 1 of each year, every bank shall file with the commissioner a list of all offices that are currently maintained and...
• California Financial Code Section 508
  (a) A bank may close or discontinue the operation of any branch office if, before the closing or discontinuance, (1) the bank files with the...
• California Financial Code Section 509
  If the commissioner finds for any reason that the establishment, relocation, or redesignation of office would be unsafe or unsound for a bank, the commissioner...
• California Financial Code Section 510
  If a bank violates any provision of this chapter or fails to comply with any order, the commissioner may levy a penalty against the bank...
• California Financial Code Section 550
  (a) Notwithstanding the provisions of Sections 1051, 1052, and 1054 of the Labor Code and Section 2947 of the Penal Code, a bank or any...
• California Financial Code Section 551
  (a) Notwithstanding Section 726 of the Code of Civil Procedure or any other provision of law to the contrary, a state or nationally chartered bank,...
• California Financial Code Section 600
  The articles of each bank shall contain the applicable one of the following statements: (a) In case the bank is, or is proposed to be,...
• California Financial Code Section 600.3
  (a) In this section: (1) "Assessment provision" means the provision in the articles of a bank that complies with the requirements of Section 600.2, as...
• California Financial Code Section 600.4
  (a) No amendment of the articles of a bank (other than an amendment set forth in an agreement of merger or in a certificate of...
• California Financial Code Section 600.6
  No restated articles of a bank shall become effective unless the certificate setting forth such restated articles is filed with the Secretary of State with...
• California Financial Code Section 600.8
  No certificate of determination of a bank shall become effective unless such certificate of determination is filed with the Secretary of State with the commissioner's...
• California Financial Code Section 600.10
  No certificate of correction of a bank shall become effective unless such certificate of correction is filed with the Secretary of State with the commissioner's...
• California Financial Code Section 600.12
  No certificate of revocation of a bank shall become effective unless such certificate of revocation is filed with the Secretary of State with the commissioner's...
• California Financial Code Section 602
  (a) A bank may change its name if it files with the commissioner a report on the proposed change not less than 30 days before...
• California Financial Code Section 620
  A bank may, with the approval of its board, determine and from time to time redetermine the par value of any class or series of...
• California Financial Code Section 621
  No bank or trust company after October 1, 1949, shall issue any shares before they are fully paid for.
• California Financial Code Section 622
  No bank shall issue any shares in consideration of: (a) Services rendered in the organization of such bank; or (b) Any note (whether or not...
• California Financial Code Section 640
  This article does not apply to any distribution made to the shareholders of a bank in any proceeding to wind up and dissolve or to...
• California Financial Code Section 641
  Section 500 of the Corporations Code does not apply to the making by a bank or by any majority-owned subsidiary of a bank of any...
• California Financial Code Section 642
  Neither a bank nor any majority-owned subsidiary of a bank shall make any distribution to the shareholders of such bank in an amount which exceeds...
• California Financial Code Section 643
  Notwithstanding the provisions of Section 642, a bank or a majority-owned subsidiary of a bank may, with the prior approval of the commissioner, make a...
• California Financial Code Section 644
  Notwithstanding the provisions of Section 642, a bank may: (a) With the prior approval of the commissioner, make a distribution to its shareholders by means...
• California Financial Code Section 645
  If the commissioner finds that the shareholders' equity of a bank is not adequate or that the making by a bank or by any majority-owned...
• California Financial Code Section 646
  (a) For purposes of Section 506 of the Corporations Code, the making by a bank or by any majority-owned subsidiary of a bank of a...
• California Financial Code Section 660
  In determining for purposes of this division whether the shareholders' equity of a bank or of a proposed bank is adequate, the commissioner shall consider:...
• California Financial Code Section 661
  For purposes of any statute, regulation, or requirement of any governmental official or agency which refers to the capital (including, without limitation, stated capital, paid-in...
• California Financial Code Section 663
  A bank which has deficit retained earnings may, with the prior approval of its outstanding shares and of the commissioner, readjust its accounts in a...
• California Financial Code Section 670
  A bank at any time may, with the approval of its board, issue, sell or hypothecate its capital notes or debentures which may be payable...
• California Financial Code Section 679
  Any reference in this article to the time a notice is given or sent shall be construed in accordance with Section 118 of the Corporations
• California Financial Code Section 680
  The board of a bank or trust company hereafter organized shall consist of not less than five nor more than 25 directors, and no bank...
• California Financial Code Section 683
  The board of each bank and of each trust company shall hold a meeting not less than once each calendar quarter. Regular meetings of the...
• California Financial Code Section 684
  (a) The commissioner, whenever in his opinion such action is necessary or appropriate to carry out the purposes and provisions of this division, may call...
• California Financial Code Section 685
  The commissioner may, in the name of the people of this state, bring or intervene in an action under Section 709 of the Corporations Code...
• California Financial Code Section 686
  (a) The commissioner shall be deemed to be a party in interest within the meaning of Section 306 of the Corporations Code with respect to...
• California Financial Code Section 687
  (a) For purposes of Section 316 of the Corporations Code, to the extent that the making by a bank or by any majority-owned subsidiary of...
• California Financial Code Section 688
  (a) For purposes of Section 316 of the Corporations Code, the making of a loan or guarantee by a bank or any other extending of...
• California Financial Code Section 689
  (a) Paragraph (1) of subdivision (b) of Section 1501 of the Corporations Code does not apply to the annual report of any bank with respect...
• California Financial Code Section 690
  Unless the context otherwise requires, in this article: (a) "Offer" or "offer to sell" includes every attempt or offer to dispose of, or solicitation of...
• California Financial Code Section 691
  No bank organized under the laws of this state shall offer or sell any security issued by it unless the commissioner has issued a permit...
• California Financial Code Section 691.1
  The following transactions are exempt from Section 691: (a) (1) Any offer (but not a sale) not involving a public offering by a bank organized...
• California Financial Code Section 692
  An application for a permit shall be in such form and contain such information as the commissioner may prescribe.
• California Financial Code Section 692.1
  The commissioner shall charge and collect fees for applications filed under this article as fixed in this section. (a) The fee for a negotiating permit...
• California Financial Code Section 693
  If the commissioner finds that the proposed sale of securities is fair, just, and equitable, he or she shall issue to the applicant a permit...
• California Financial Code Section 694
  The commissioner may impose conditions in any permit issued under Section 693, requiring the deposit in escrow of securities, imposing a legend condition restricting the...
• California Financial Code Section 695
  Every permit issued pursuant to Section 693 shall recite that it is permissive only and does not constitute a recommendation or endorsement of the securities...
• California Financial Code Section 696
  The commissioner may amend, alter, suspend, or revoke any permit issued pursuant to Section 693.
• California Financial Code Section 696.5
  Whenever a bank applies for a permit to issue any security or to deliver any other consideration (whether or not such security or such transaction...
• California Financial Code Section 697
  There shall be exempted from the provisions of Section 691 any transaction or security, including, without limitation, any type or class of transactions or securities,...
• California Financial Code Section 698
  Nothing contained in this article shall affect the Corporate Securities Law of 1968, Division 1 (commencing with Section 25000) of Title 4 of the Corporations
• California Financial Code Section 700
  Unless the context otherwise requires, in this article: (a) "Bank" means a bank organized under the laws of this state. (b) "Control" means possession, direct...
• California Financial Code Section 701
  No person shall, directly or indirectly, unless the commissioner has approved such acquisition of control, do any of the following: (a) Make a tender offer...
• California Financial Code Section 701.1
  Notwithstanding any other provision of this article, except for those persons approved by the commissioner prior to September 1, 2002, and for those persons who...
• California Financial Code Section 702
  An application for approval to acquire control of a bank or a controlling person shall be in such form and contain such information as the...
• California Financial Code Section 703
  If the commissioner finds, with respect to the proposed acquisition of control of a bank or a controlling person, that any of the factors set...
• California Financial Code Section 703.5
  (a) In this section, "officer" has the meaning set forth in Section 33057. (b) For purposes of Section 703, the commissioner may find: (1) That...
• California Financial Code Section 704
  The commissioner may, in approving a proposal to acquire control of a bank or a controlling person pursuant to Section 703, impose such conditions as...
• California Financial Code Section 705
  The commissioner may, for good cause, amend, alter, suspend, or revoke any approval of a proposal to acquire control of a bank or a controlling...
• California Financial Code Section 706
  Notwithstanding any other provision of this article, any application for approval to acquire control of a bank or a controlling person which is not denied...
• California Financial Code Section 707
  (a) The commissioner, before determining whether, for purposes of this article, a person controls another person or before denying or approving an application for approval...
• California Financial Code Section 708
  There shall be exempted from the provisions of Section 701 any transaction, including, without limitation, any type or class of transactions, which the commissioner by...
• California Financial Code Section 709
  Whenever it appears to the commissioner that any person has committed or is about to commit a violation of any provision of this article or...
• California Financial Code Section 710
  No person shall be entitled to vote or to give a written consent with respect to any security acquired in contravention of any provision of...
• California Financial Code Section 711
  If any provision or clause of this article or the application thereof to any person or circumstance is held invalid, illegal, or unenforceable, such invalidity,...
• California Financial Code Section 750
  A bank or trust company may purchase, acquire, hold, or lease real property or an interest therein only as follows: (a) Such as may be...
• California Financial Code Section 751
  Any real property not held for any purpose permitted by subdivisions (a) and (e) of Section 750 shall be sold whenever the same can be...
• California Financial Code Section 751.3
  (a) The Legislature finds and declares: (1) That it is necessary to increase job opportunities in real estate development and construction and to provide additional...
• California Financial Code Section 752
  Any director, officer, or employee of a bank or of a foreign banking corporation who asks for or receives, or consents or agrees to receive,...
• California Financial Code Section 753
  Any director, officer, agent, or employee of any bank who knowingly receives or possesses himself or herself of any of its property otherwise than in...
• California Financial Code Section 754
  Any director, officer, agent, or employee of a bank who knowingly concurs in making or publishing any written report, exhibit, or statement of its affairs...
• California Financial Code Section 755
  No bank shall publish a statement of its resources or liabilities in connection with those of any other bank, unless such statement shall show the...
• California Financial Code Section 756
  (a) Any person who willfully and knowingly makes, circulates, or transmits to another or others, any statement or rumor, written, printed, or by word of...
• California Financial Code Section 757
  (a) A bank or trust company may engage in the business of renting safe deposit boxes and may receive personal property for safekeeping and storage...
• California Financial Code Section 758
  (a) In this section, "subject person," when used with respect to a bank, means any director or officer of the bank, any controlling person of...
• California Financial Code Section 759
  (a) In this section, "subject person" has the meaning set forth in subdivision (a) of Section 758. (b) No subject person of a bank shall...
• California Financial Code Section 760
  (a) For purposes of this section, the following terms have the following meanings: (1) "Carrying a security" means maintaining, reducing, or retiring indebtedness originally incurred...
• California Financial Code Section 761
  Any officer, director, trustee, employee, or agent of any bank in this state, who abstracts or willfully misapplies any of the money, funds, or property...
• California Financial Code Section 762
  (a) Every director of a bank in this state who does either of the following is guilty of a misdemeanor: (1) In case of the...
• California Financial Code Section 763
  An officer or agent of any bank in this state, who makes or delivers any guaranty or endorsement on behalf of such bank, whereby it...
• California Financial Code Section 764
  A director of a bank, organized under the laws of this state, who concurs in any vote or act of the directors of such corporation,...
• California Financial Code Section 765
  Any director, trustee, officer, or employee of any bank organized under the laws of this state, who makes or maintains, or attempts to make or...
• California Financial Code Section 766
  Any officer or employee of any bank organized under the laws of this state, who intentionally conceals from the directors of the bank any discounts...
• California Financial Code Section 767
  Every officer, agent, teller, or clerk of any bank, and every individual banker, or agent, teller, or clerk of any individual banker, who receives any...
• California Financial Code Section 768
  Any officer, director, trustee, employee, or agent of any bank, who willfully makes a false or untrue entry in any book or record or in...
• California Financial Code Section 769
  Unless specifically authorized by law or by the commissioner, a bank shall not become, act as, or in any other manner assume the duties or...
• California Financial Code Section 780
  It is the intent of the Legislature that the provisions of this article, insofar as they are contained in Regulation O (12 C.F.R. Part 215)...
• California Financial Code Section 781
  As used in this article: (a) "Bank" means: (1) Any commercial bank, industrial bank, or trust company incorporated under the laws of this state. (2)...
• California Financial Code Section 782
  Sections 215.2, 215.3, 215.4, 215.5, 215.8, and 215.9 of Regulation O in all of their particulars, including footnotes, are hereby referred to, incorporated by reference...
• California Financial Code Section 783
  No bank shall extend credit in an aggregate amount greater than the amount permitted in paragraph (4) of subdivision (c) of Section 215.5 of Regulation...
• California Financial Code Section 784
  In making any extension of credit that is subject to this article, a bank shall comply with all other applicable provisions of this division relating...
• California Financial Code Section 785
  No provision of this article or of Article 2 (commencing with Section 1220) of Chapter 10 shall apply to an advance of money made by...
• California Financial Code Section 786
  A bank may make a loan, otherwise complying with the provisions of this division, for the benefit of a trust, notwithstanding that the bank or...
• California Financial Code Section 787
  Any bank that makes an extension of credit in violation of this article is subject to a civil penalty pursuant to Section 216.3. Any person,...
• California Financial Code Section 790
  No person who has not received a certificate from the commissioner authorizing it to engage in the banking business shall solicit or receive deposits, issue...
• California Financial Code Section 791
  No person who has not received a certificate from the commissioner authorizing it to engage in the banking business shall advertise that it is accepting...
• California Financial Code Section 792
  No person who has not received a certificate from the commissioner authorizing it to engage in the banking business shall transact business under any name...
• California Financial Code Section 793
  No provision of Section 790, 791, or 792 prohibits any of the following from transacting any business or performing any activity if it is authorized...
• California Financial Code Section 794
  Any person or any bank violating any provision of the foregoing sections of this article shall be liable to the people of the state in...
• California Financial Code Section 795
  No person shall represent by advertisement, circular, or otherwise, or in any manner mislead anyone to believe, that any securities are legal investments for savings...
• California Financial Code Section 800
  In this chapter, unless the context otherwise requires: (a) "Authorized agency activities" means receiving deposits, renewing time deposits, closing loans, servicing loans, and receiving payments...
• California Financial Code Section 801
  This chapter does not apply to a California state bank having an insured depository institution engage in authorized agency activities as its agent or to...
• California Financial Code Section 802
  (a) In this section, "affiliated," when used with respect to a California state bank and an insured depository institution, means that the California state bank...
• California Financial Code Section 810
  Notwithstanding the provisions of Chapter 4 (commencing with Section 500) and Section 776, a California state bank may, with the prior approval of the commissioner...
• California Financial Code Section 811
  An application by a California state bank for approval to have an insured depository institution engage in authorized agency activities as its agent shall be...
• California Financial Code Section 812
  An application by a California state bank for approval to have an insured depository institution engage in authorized agency activities as its agent shall be...
• California Financial Code Section 813
  In determining whether to approve or deny an application by a California state bank for approval to have an insured depository institution engage in authorized...
• California Financial Code Section 814
  No California state bank may have an insured depository institution conduct as its agent any activity that the California state bank is prohibited from conducting
• California Financial Code Section 815
  No office of an insured depository institution that is performing authorized agency activities as agent for a California state bank in accordance with this article...
• California Financial Code Section 816
  If the commissioner finds that any activity performed by an insured depository institution as agent for a California state bank is not an authorized agency...
• California Financial Code Section 820
  Notwithstanding the provisions of Chapter 4 (commencing with Section 500) and Section 776, a California state bank may, with the prior approval of the commissioner...
• California Financial Code Section 821
  An application by a California state bank for approval to engage in authorized agency activities as agent for an insured depository institution shall be in...
• California Financial Code Section 822
  An application by a California state bank for approval to engage in authorized agency activities as agent for an insured depository institution shall be accompanied...
• California Financial Code Section 823
  In determining whether to approve or deny an application by a California state bank for approval to engage in authorized agency activities as agent for...
• California Financial Code Section 824
  No California state bank may conduct any activity as an agent for an insured depository institution that the California state bank would be prohibited from...
• California Financial Code Section 825
  (a) No office of a California state bank that conducts authorized agency activities as agent for an insured depository institution in accordance with this article...
• California Financial Code Section 826
  If the commissioner finds that any activities performed by a California state bank as agent for an insured depository institution are not authorized agency activities...
• California Financial Code Section 850
  A bank account by or in the name of a minor shall be held for the exclusive right and benefit of such minor and shall...
• California Financial Code Section 851
  A bank account by or in the name of a married person shall be held for the exclusive right and benefit of the person, shall...
• California Financial Code Section 852
  A bank account that is a multiple-party account as defined in Section 5132 of the Probate Code is governed by Part 2 (commencing with Section...
• California Financial Code Section 854
  No bank, directly or indirectly, by any device whatever, shall pay any interest on any demand deposit except to the extent that the payment of...
• California Financial Code Section 854.1
  Notwithstanding Section 10145 of the Business and Professions Code or any other provision of law, but subject to the limitations of Section 854, benefits accruing...
• California Financial Code Section 854.2
  (a) Notwithstanding Section 10145 of the Business and Professions Code or any other provision of law, benefits accruing from the placement in an interest bearing...
• California Financial Code Section 857
  (a) In this section: (1) "Creditor" includes, but is not limited to, a depositor. (2) "Insolvency," when used with respect to a bank, means that...
• California Financial Code Section 858
  An overdraft of more than 90 days standing shall not be allowed as an asset of any bank.
• California Financial Code Section 860
  A bank may act as a depositary, paying agent, trustee, or fiscal agent for the holding or handling of public funds or securities notwithstanding the...
• California Financial Code Section 861
  When a statement of account has been rendered by a bank to a depositor accompanied by vouchers, if any, which are the basis for debit...
• California Financial Code Section 863
  (a) No bank shall impose any charge on a savings account or on a depositor for the failure of a depositor to deposit, or for...
• California Financial Code Section 864
  (a) For the purposes of this section: (1) "Customer" means one or more natural persons. (2) "Debt" means an interest-bearing obligation or an obligation which...
• California Financial Code Section 866
  As used in this article: (a) "Depository institution" means any of the following: (1) Any insured bank as defined in Section 3 of the Federal...
• California Financial Code Section 866.2
  (a) Prior to opening a deposit account a depository institution shall provide a written disclosure to the potential customer of its general policy with respect...
• California Financial Code Section 866.3
  For the purposes of computing the amount of interest or dividends payable with respect to an interest-bearing deposit account, a depository institution shall not delay...
• California Financial Code Section 866.4
  Except as otherwise provided in this section, any depository institution which fails to comply with any requirement imposed pursuant to this article shall be liable...
• California Financial Code Section 866.5
  The commissioner shall issue administrative regulations to define a reasonable time for permitting customers to draw on items received for deposit in the customer's account....
• California Financial Code Section 866.6
  Pursuant to Section 866.5, the commissioner shall promulgate regulations which shall be reviewed annually to establish a reasonable period of time within which a depository...
• California Financial Code Section 866.7
  The commissioner is authorized to gather from depository institutions such information as may be necessary for the formulation and promulgation of the regulations required by...
• California Financial Code Section 866.8
  The first regulations issued pursuant to this article shall be issued on or before July 1, 1984.
• California Financial Code Section 866.9
  The commissioner is authorized to issue regulations which provide for a different period of time for withdrawal as a matter of right against deposited items,...
• California Financial Code Section 867
  (a) Funds deposited in an account at a depository institution shall be available on the second business day after the business day on which those...
• California Financial Code Section 874
  Any bank which delivers or has heretofore delivered to the State Treasurer pursuant to law any unclaimed or abandoned deposit shall not thereafter be liable...
• California Financial Code Section 952
  Notice to any bank of an adverse claim (the person making the adverse claim being hereinafter called "adverse claimant") to a deposit standing on its...
• California Financial Code Section 953
  When the depositor of a commercial or savings account has authorized any person to make withdrawals from the account, the bank, in the absence of...
• California Financial Code Section 954
  A bank need not recognize or give any effect to (1) any claim to a deposit of cash or securities standing on its books to...
• California Financial Code Section 970
  Whenever a bank certifies a check, the amount thereof shall be immediately charged against the account of the drawer.
• California Financial Code Section 971
  It shall be unlawful for any officer or employee of a bank to certify any check drawn upon such bank, unless the drawer has on...
• California Financial Code Section 1000
  As used in this chapter, unless the context requires otherwise, the following terms have the following meanings: (a) "Net direct debt" of any public corporation...
• California Financial Code Section 1001
  Any securities or other assets that are described in Sections 1003 to 1018, inclusive, are legal investments for savings banks.
• California Financial Code Section 1002
  Where any laws of this state provide that the moneys of any pension fund, retirement plan, trust fund, or the moneys of any special fund...
• California Financial Code Section 1003
  Gold and silver bullion and United States mint certificates of ascertained value.
• California Financial Code Section 1004
  Stock of a federal reserve bank or of a federal home loan bank to the extent authorized by Section 754.
• California Financial Code Section 1005
  Bonds or other interest-bearing notes and obligations of the United States and those for which the faith and credit of the United States are pledged...
• California Financial Code Section 1006
  Bonds of the State of California and those for which the faith and credit of the State of California are pledged for the payment of...
• California Financial Code Section 1007
  Bonds of any flood control and water conservation districts, or any zone thereof, having an assessed valuation on taxable real property of not less than...
• California Financial Code Section 1008
  Bonds of any other political subdivision, public corporation, or district of the State of California (herein referred to generally as public corporations) having the power,...
• California Financial Code Section 1009
  (a) Any of the following subject to the conditions set forth in subdivision (b) to (d), inclusive. (1) Bonds or other evidences of indebtedness of,...
• California Financial Code Section 1010
  Bonds of any irrigation district, water storage district, water conservation district, county water district, reclamation district, drainage district, and any district the primary function of...
• California Financial Code Section 1011
  (a) Bonds, consolidated bonds, collateral trust debentures, consolidated debentures, or other obligations issued by federal land banks or federal intermediate credit banks established under the...
• California Financial Code Section 1012
  Bonds, notes or other obligations issued by the Federal Financing Bank, the United States Postal Service, or issued or assumed by the International Bank for...
• California Financial Code Section 1013
  (a) Notes with a maturity not exceeding 15 months after the date of issue, issued in anticipation of uncollected taxes, income, revenue, cash receipts, and...
• California Financial Code Section 1014
  Revenue securities of any state of the United States, or of the Commonwealth of Puerto Rico, and of any city, county, city and county, political...
• California Financial Code Section 1015
  Bonds of any local public housing agency (as defined in the United States Housing Act of 1937, as amended) that are secured by either of...
• California Financial Code Section 1015.5
  Bonds secured by an insurance commitment of the Federal Housing Administration.
• California Financial Code Section 1016
  Evidences of indebtedness of companies incorporated in the United States and, directly or indirectly, engaged in manufacturing, extraction, merchandising, or commercial financing and in bonds...
• California Financial Code Section 1017
  Fixed interest railroad bonds meeting the requirements of subdivisions (a) and (b); bonds secured by a mortgage on jointly operated railroad facilities meeting the requirements...
• California Financial Code Section 1018
  Bonds and debentures of gas, electric, or gas and electric companies meeting the requirements of subdivision (a); bonds and debentures of telephone companies meeting the...
• California Financial Code Section 1200
  A commercial bank shall not rediscount, borrow money, or hypothecate its assets as security for money borrowed except to the extent and upon the conditions...
• California Financial Code Section 1201
  Assets hypothecated by a commercial bank as security for moneys borrowed shall not exceed in value the amount borrowed by more than 50 percent except...
• California Financial Code Section 1202
  A commercial bank may borrow money by discounting or otherwise, and may borrow money secured by real property owned by the bank, to an amount...
• California Financial Code Section 1203
  A commercial bank may hypothecate its assets in any manner provided by law to secure the deposits of moneys of the United States, of postal...
• California Financial Code Section 1204
  A commercial bank may borrow for the purpose of buying from the United States, United States bonds, United States Treasury certificates, or notes or other...
• California Financial Code Section 1205
  A commercial bank may rediscount with, borrow money from, or hypothecate its assets as security for money borrowed from a Federal Reserve bank, the Federal...
• California Financial Code Section 1206
  A commercial bank may issue negotiable certificates of deposit transferable by endorsement and delivery and nonnegotiable certificates transferable only on the books of the bank.
• California Financial Code Section 1208
  A commercial bank located in a place the population of which does not exceed 5,000 persons according to the most recent official federal or state...
• California Financial Code Section 1210
  (a) In this article and in Article 4 (commencing with Section 3860) of Chapter 22, "affiliate," when used with respect to a specified person, means...
• California Financial Code Section 1211
  (a) Subject to the limitations in Sections 1221 and 1330, a bank may hold both obligations made by a person, and securities issued by that...
• California Financial Code Section 1212
  Subject to prior approval by the commissioner and to any limitations the commissioner may impose on an investment, the limitations in subdivision (b) of Section...
• California Financial Code Section 1213
  Sections 1211 and 1330 shall not apply to investments held by a bank prior to the operative date of this section. All authorizations regarding investments...
• California Financial Code Section 1220
  For the purpose of this article: (a) "Obligations" means the total sums for the payment of which a person is obligated, primarily or secondarily, to...
• California Financial Code Section 1221
  The obligations, as defined in Section 1220, excepting the obligations described in Section 1226 and the obligations described in Section 1224, of any one person...
• California Financial Code Section 1223
  An obligation shall not be deemed secured by personal property or collateral unless the personal property or collateral held as security is of a kind...
• California Financial Code Section 1224
  (a) In addition to the limitations contained in Section 1221 a commercial bank may issue letters of credit and a commercial bank may accept drafts...
• California Financial Code Section 1225
  With the approval of the commissioner a commercial bank may accept drafts or bills of exchange drawn upon it having not more than three months'...
• California Financial Code Section 1226
  The limitations of Section 1221 shall not apply to the following and the following shall not be included among the obligations of a person for...
• California Financial Code Section 1227
  A commercial bank may lend on the security of a first lien on real property or a first lien on a leasehold under a lease...
• California Financial Code Section 1227.2
  (a) The provisions of any deed of trust or mortgage on real property which authorize any state or nationally chartered bank to accelerate the maturity...
• California Financial Code Section 1227.3
  The provisions of any deed of trust or mortgage on real property which authorize any state or nationally chartered bank to receive and control the...
• California Financial Code Section 1228
  A commercial bank may lend on the security of a first lien on real property or a first lien on a leasehold under a lease...
• California Financial Code Section 1229
  A commercial bank shall not lend in the aggregate more than 5 percent of its assets upon the security of the stock of any one...
• California Financial Code Section 1231
  No loan shall be made by any commercial bank upon the securities of one or more corporations, the payment of which loan is undertaken, in...
• California Financial Code Section 1234
  Nothing in this chapter restricts a commercial bank in taking any lien on or pledge of any property as additional security for a loan already...
• California Financial Code Section 1235
  A commercial bank holding a first lien on real property may take, or purchase and hold, or loan upon another and immediately junior lien but...
• California Financial Code Section 1236
  A commercial bank may lend on the security of a first security interest on stock or a membership certificate issued to a tenant-stockholder or resident-member...
• California Financial Code Section 1238
  (a) A commercial bank may make amortized loans upon the security of residential real property to finance the purchase and installation of material or equipment...
• California Financial Code Section 1239
  For the purpose of determining whether any loan or investment is secured by a first lien on real property as required by any provision of...
• California Financial Code Section 1240
  No loan made by any bank in excess of any limitations contained in this division or which is made in violation of any of the...
• California Financial Code Section 1241
  (a) Any state-chartered bank that makes a refund anticipation loan to a covered borrower, as defined in Section 232 of Title 32 of the Code...
• California Financial Code Section 1330
  The total amount invested by a bank in the securities issued by a person shall not exceed 15 percent of the sum of the shareholders'...
• California Financial Code Section 1331
  Section 1330 shall not apply to investments made pursuant to this section. A bank may invest in shares of an investment company (1) registered with...
• California Financial Code Section 1332
  Notwithstanding Section 1330, a bank may purchase, acquire, or hold the stock of any corporation pursuant to a plan of reorganization approved by the commissioner...
• California Financial Code Section 1337
  If any commercial bank has made investments which it was authorized to make at the time they were made it shall not be required to...
• California Financial Code Section 1338
  A commercial bank may organize, sponsor, operate, control, or render investment advice to, an investment company, or underwrite, distribute, or sell securities of any investment...
• California Financial Code Section 1380
  Whenever the public administrator becomes the administrator of the estate of a decedent who at the time of his death left money on deposit with...
• California Financial Code Section 1381
  A commercial bank accepting savings deposits shall provide by its bylaws or by contract with its savings depositors the time and condition on which repayment...
• California Financial Code Section 1382
  For the purposes of any law authorizing or providing for the deposit of funds with a savings bank, a commercial bank accepting savings deposits shall...
• California Financial Code Section 1400
  Chapter 11 (commencing with Section 1400) of Division 1 is a restatement of Division 7 (commencing with Section 18000) as that division pertains to the...
• California Financial Code Section 1401
  (a) Any reference in a provision of any statute or regulation of this state to banks or commercial banks includes industrial banks. (b) Subdivision (a)...
• California Financial Code Section 1402
  The Industrial Loan Account of the Financial Institutions Fund is renamed to be the Industrial Bank Account.
• California Financial Code Section 1403
  (a) The commissioner shall annually levy on and collect from industrial banks authorized to transact industrial banking business in this state, pro rata on the...
• California Financial Code Section 1410
  Each industrial bank shall be an insured bank at all times while it is engaged in the industrial banking business.
• California Financial Code Section 1411
  Subject to any order or regulation of the commissioner, an industrial bank may accept deposits evidenced by a deposit account or by certificates, that are...
• California Financial Code Section 1412
  In addition to other provisions of this division that are otherwise applicable to an industrial bank, the following provisions of this division apply to the...
• California Financial Code Section 1500
  No corporation shall engage in the trust business unless: (a) Its articles comply with the requirements of subdivision (b), (d), or (e) of Section 600;...
• California Financial Code Section 1500.1
  Any commercial bank or industrial bank, with the prior authorization of the commissioner, may engage in the trust business, if its articles comply with the...
• California Financial Code Section 1500.6
  No California state bank may engage in trust business at a place unless the place is its head office, an authorized branch office, or an...
• California Financial Code Section 1501.2
  The following persons are exempt from the restrictions and prohibitions contained in Section 1500 and Article 3 (commencing with Section 3390) of Chapter 18: (a)...
• California Financial Code Section 1502
  In this section, "subject national banking association" means a national banking association that (a) maintains its main office or a branch office in this state,...
• California Financial Code Section 1503
  No foreign corporation, other than a national banking association or a foreign (other state) state bank that is authorized to conduct a trust business in...
• California Financial Code Section 1504
  Pursuant to the authority contained in Section 1 of Article XV of the California Constitution, the restrictions upon rates of interest contained in Section 1...
• California Financial Code Section 1505
  The Legislature finds and declares that it is important to inform taxpayers that they may make voluntary contributions to certain funds or programs, as provided...
• California Financial Code Section 1520
  It is the intent of the Legislature that the provisions of this article, insofar as they are contained in the regulations regarding fiduciary activities of...
• California Financial Code Section 1521
  For purposes of Section 1522, the following terms have the following meanings: (a) "Bank" means any of the following: (1) A commercial bank, industrial bank,...
• California Financial Code Section 1522
  (a) Sections 9.4 to 9.6, inclusive, Sections 9.8 to 9.15, inclusive, and Sections 9.18 to 9.101, inclusive, of the Fiduciary Regulations in all of their...
• California Financial Code Section 1540
  Every trust company shall deposit with the State Treasurer money or securities of the character described in Section 1542 as security for its court and...
• California Financial Code Section 1541
  Whenever any trust company receives trust funds or property, other than real property, from court trusts accepted by it to the amount of one million...
• California Financial Code Section 1542
  Security deposited with the Treasurer by trust companies pursuant to Section 1540 or 1541 shall consist of the following: (a) Bonds or other interest-bearing notes...
• California Financial Code Section 1543
  Such money or securities shall be approved by the commissioner and be deposited with the Treasurer upon the written order of the commissioner. Upon receiving...
• California Financial Code Section 1544
  Securities deposited pursuant to this article may be exchanged from time to time, with the approval of the commissioner, for other like securities of equal...
• California Financial Code Section 1545
  Should any security deposited pursuant to this article so depreciate in value as to reduce the deposit below the amount required by this article, additional...
• California Financial Code Section 1545.5
  When any revaluation of securities is made by the commissioner pursuant to Section 1545, other than at the time such securities are presented for deposit,...
• California Financial Code Section 1546
  The money and securities deposited pursuant to this article shall be subject to sale and the same or the proceeds thereof shall be subject to...
• California Financial Code Section 1547
  The commissioner may, pursuant to Section 216.3, levy a civil penalty against any trust company that fails to comply with this article.
• California Financial Code Section 1560
  A trust company may invest its contributed capital only in the securities and properties in which a commercial bank is permitted to invest its funds...
• California Financial Code Section 1561
  Trust funds received by any trust company in connection with its trust business, if invested, shall be invested as provided in Part 4 (commencing with...
• California Financial Code Section 1561.1
  (a) As used in this section: (1) "Fund" means any investment company registered under the Investment Company Act of 1940 (15 U.S.C. Sec. 80a-1 et...
• California Financial Code Section 1562
  Any trust company or bank authorized to engage in the trust business holding trust funds awaiting investment or distribution may deposit or leave on deposit...
• California Financial Code Section 1563
  Any trust company acting in any capacity under a court or private trust or when acting in such capacity with one or more persons as...
• California Financial Code Section 1564
  (a) For purposes of this section, two or more trust companies shall be deemed to be affiliated if they are members of the same affiliated...
• California Financial Code Section 1565
  With regard to any participation certificates heretofore issued by any trust company, secured by a trust deed or mortgage, the full legal title in the...
• California Financial Code Section 1580
  A trust company has the following powers: (a) It may act, or may be appointed by any court to act, in like manner as an...
• California Financial Code Section 1581
  For the purposes of this chapter, all trusts and other business permitted to be accepted or executed by a trust company are hereby classified and...
• California Financial Code Section 1582
  A trust company, its officers and employees, shall not disclose any information to any person concerning the existence, condition, management, and administration of any private...
• California Financial Code Section 1583
  The commissioner shall examine the court trust business of a trust company at least once every two calendar years and shall examine the private trust...
• California Financial Code Section 1584
  In making the reports to the commissioner required by this division, every trust company shall report, in addition to the other facts called for, separately,...
• California Financial Code Section 1586
  Any court having jurisdiction of any executor, administrator, guardian, conservator, assignee, receiver, depositary, or trustee, upon the application of any such officer or trustee or...
• California Financial Code Section 1586.5
  Securities held by a trust company by direction of any court order issued pursuant to Section 1586 may be deposited, pursuant to the provisions of...
• California Financial Code Section 1587
  Whenever an executor, administrator, guardian or conservator of estates, assignee, receiver, depositary, or trustee is required to qualify by taking and subscribing an oath or...
• California Financial Code Section 1588
  Whenever any corporation desires to withdraw from and discontinue doing a trust business, it shall furnish to the commissioner satisfactory evidence of its release and...
• California Financial Code Section 1589
  The validity or legality of any act or proceeding done or taken by any trust company, relating to or in connection with the administration of...
• California Financial Code Section 1590
  Nothing in this chapter shall make it unlawful for any person or corporation to engage in the business of receiving and holding money in escrow...
• California Financial Code Section 1591
  A bank or trust company shall not mingle trust funds received by it with other assets of the corporation or association and such funds shall...
• California Financial Code Section 1592
  Notwithstanding any other provision of law, any bank and any trust company holding securities in a fiduciary capacity or while engaged in a trust business,...
• California Financial Code Section 1593
  Notwithstanding any other provision of law, any bank and any trust company holding securities in a fiduciary capacity or while engaged in a trust business,...
• California Financial Code Section 1650
  Notice to a bank operating a safety deposit department or to a company conducting a safety deposit business of an adverse claim (the person making...
• California Financial Code Section 1660
  Every bank conducting a safe-deposit business shall be entitled to the special remedies set forth in this article in enforcing the liabilities of safe-deposit box...
• California Financial Code Section 1661
  If the rental of any safe-deposit box is not paid within six months from the day it is due, the bank, or at any time...
• California Financial Code Section 1662
  At any time after the date specified in such notice, if the rental for such safe-deposit box to the date of payment and the cost...
• California Financial Code Section 1662.5
  The following persons, and no others, are entitled to receive from the bank a copy of the inventory: (a) An executor of the decedent's will....
• California Financial Code Section 1663
  All contents removed from a safe-deposit box pursuant to Section 1662 shall be retained by the bank for at least two years unless sooner delivered...
• California Financial Code Section 1664
  At any time after two years from the day when a safe-deposit box has been opened pursuant to this article, the bank may mail a...
• California Financial Code Section 1665
  Notwithstanding any of the provisions of this article, no stocks, bonds, or other securities which, at the time of sale pursuant to Section 1664, are...
• California Financial Code Section 1666
  Upon the making of a sale of any securities, an officer of the bank shall execute and attach to the securities so sold an affidavit...
• California Financial Code Section 1667
  From the proceeds of any sale the bank shall deduct the amount set forth in such notice and any further charges which may have accrued...
• California Financial Code Section 1668
  Any documents, letters, or other articles found in a safe-deposit box opened pursuant to Section 1662, which in the judgment of at least two officers...
• California Financial Code Section 1669
  If, before the effective date of this section, a bank or its predecessor in interest, has caused a safe-deposit box to be opened for nonpayment...
• California Financial Code Section 1670
  Whenever a bank receives personal property for safekeeping or storage as bailee and issues a receipt therefor, the bank may enforce its lien as warehouseman...
• California Financial Code Section 1671
  If the amount charged by a bank for the safekeeping or storage of personal property is not paid within six months from the day it...
• California Financial Code Section 1672
  From the proceeds of the sale, the bank shall deduct all charges as stated in the final notice, together with any further charges that have...
• California Financial Code Section 1673
  Any documents, letters, or other articles which, in the judgment of an officer of the bank, have no apparent intrinsic or marketable value, need not...
• California Financial Code Section 1674
  The power conferred on a bank to sell the contents of a safe-deposit box or personal property received for safekeeping or storage for nonpayment of...
• California Financial Code Section 1675
  A bank holding a safe-deposit box originally rented from, or personal property against which a safekeeping or storage receipt was issued by, a predecessor in...
• California Financial Code Section 1676
  The provisions of this article do not preclude any other remedy by action or otherwise now or hereafter existing for the enforcement of the claims...
• California Financial Code Section 1677
  If the principal of, or interest or dividends on, any securities that have come into the possession of any bank by reason of action taken...
• California Financial Code Section 1678
  (a) Whenever this article requires that notice be sent to a person, and the box stood or stands on the records of the bank or...
• California Financial Code Section 1679
  Whenever an amount of safe-deposit rental, custody, safekeeping, or other charge is to be paid or deducted pursuant to this article, there shall be added...
• California Financial Code Section 1680
  Any bank or trust company may receive bonds issued by the United States Government for safekeeping, collection, or storage, and shall receipt therefor to the...
• California Financial Code Section 1700
  In this chapter, unless the context otherwise requires: (a) "Agency" means a depositary agency or a nondepositary agency. (b) "Branch office" means a limited branch...
• California Financial Code Section 1700.3
  Nothing in this chapter, except Section 1707, applies to a federal agency or branch in this state.
• California Financial Code Section 1700.5
  (a) In this section, "subject bank" means a bank organized under the laws of any territory of the United States, Puerto Rico, Guam, American Samoa,...
• California Financial Code Section 1701
  For purposes of this chapter, offices of foreign (other nation) banks are divided into classes and ranked in ascending order, as follows: (a) Representative office....
• California Financial Code Section 1701.5
  (a) For purposes of this chapter: (1) Changing a lower class office into a higher class office shall be treated as establishing the higher class...
• California Financial Code Section 1702
  Fees shall be paid to, and collected by, the commissioner, as follows: (a) The fee for filing with the commissioner an application by a foreign...
• California Financial Code Section 1703
  Each application filed with the commissioner under this chapter or under any regulation or order issued under this chapter shall be in such form, shall...
• California Financial Code Section 1704
  (a) In this section, "act" includes (without limitation) omission. (b) For purposes of making findings on an application by a foreign (other nation) bank for...
• California Financial Code Section 1705
  (a) Each foreign (other nation) bank that is licensed to maintain an office shall file with the commissioner reports as and when the commissioner may,...
• California Financial Code Section 1706
  Each foreign (other nation) bank that is licensed to maintain an office shall make, keep, and preserve at the office or at another place that...
• California Financial Code Section 1707
  (a) No foreign (other nation) bank which is licensed to maintain an agency or branch office shall concurrently maintain a federal agency or federal branch...
• California Financial Code Section 1708
  (a) No foreign (other nation) bank shall concurrently be licensed to maintain offices of different classes. (b) Subdivision (a) does not prohibit a foreign (other...
• California Financial Code Section 1710
  (a) (1) No foreign (other nation) bank (other than a bank that is licensed to maintain an agency or branch office) shall be issued a...
• California Financial Code Section 1711
  No license shall be transferable or assignable.
• California Financial Code Section 1712
  Each foreign (other nation) bank that is licensed to maintain an office shall post its license in a conspicuous place at the office.
• California Financial Code Section 1713
  (a) Each foreign (other nation) bank that is licensed to maintain an office shall assign to the office a popular name that consists of a...
• California Financial Code Section 1714
  Whenever a foreign (other nation) bank is licensed to maintain two or more agencies or branch offices, it shall designate one of such offices as...
• California Financial Code Section 1715
  Each foreign (other nation) bank that is licensed to maintain an office shall conduct all of the business of the office in a single building...
• California Financial Code Section 1716
  Any foreign (other nation) bank that, at the time it makes a loan or forbearance or executes a contract therefor, has assets equal to at...
• California Financial Code Section 1725
  (a) No foreign (other nation) bank shall establish or maintain an office in this state at which it engages in representational functions unless it is...
• California Financial Code Section 1726
  (a) (1) No foreign (other nation) bank shall establish or maintain a representative office unless the commissioner shall have first approved the establishment of the...
• California Financial Code Section 1727
  (a) No foreign (other nation) bank that is licensed to maintain a representative office shall relocate the office unless the commissioner shall have first approved...
• California Financial Code Section 1728
  A foreign (other nation) bank that is licensed to maintain a representative office may, subject to any regulations that the commissioner may prescribe, engage in...
• California Financial Code Section 1729
  (a) (1) No foreign (other nation) bank that is licensed to maintain a representative office shall close the office unless the commissioner shall have first...
• California Financial Code Section 1750
  (a) No foreign (other nation) bank shall transact business in this state except at an agency or branch office that it is licensed to maintain...
• California Financial Code Section 1751
  No foreign (other nation) bank shall be licensed to maintain any agency or branch office unless it is qualified to transact intrastate business in this...
• California Financial Code Section 1752
  No foreign (other nation) bank shall be licensed to maintain a retail branch office unless the deposits in such office are insured by the Federal...
• California Financial Code Section 1753
  (a) (1) No foreign (other nation) bank shall establish or maintain an agency or branch office unless the commissioner shall have first approved the establishment...
• California Financial Code Section 1754
  (a) No foreign (other nation) bank which is licensed to maintain an agency or branch office shall relocate such office unless the commissioner shall have...
• California Financial Code Section 1755
  (a) A foreign (other nation) bank that is licensed to maintain an agency or branch office may transact commercial banking business at the office, subject...
• California Financial Code Section 1756
  (a) In addition to other provisions of this division that are otherwise applicable to or with respect to foreign (other nation) banks licensed to maintain...
• California Financial Code Section 1757
  (a) Whenever the commissioner calls for a report under Section 283 from commercial banks organized under the laws of this state, the commissioner shall call...
• California Financial Code Section 1758
  Each foreign (other nation) bank which is licensed to maintain a depositary agency, limited branch office, or wholesale branch office shall, in accordance with such...
• California Financial Code Section 1759
  (a) In case a foreign (other nation) bank is licensed to maintain a depositary agency or branch office and such office is not subject to...
• California Financial Code Section 1760
  (a) Each foreign (other nation) bank which is licensed to transact business in this state shall keep the assets of such business separate and apart...
• California Financial Code Section 1761
  (a) In this section: (1) "Adjusted liabilities," when used with respect to a foreign (other nation) bank, means the liabilities of such bank's business in...
• California Financial Code Section 1762
  (a) In this section: (1) "Adjusted liabilities," when used with respect to a foreign (other nation) bank which is licensed to maintain a branch office...
• California Financial Code Section 1763
  (a) (1) No foreign (other nation) bank which is licensed to maintain an agency or branch office shall close such office unless the commissioner shall...
• California Financial Code Section 1775
  (a) Any foreign (other nation) bank that holds a license to maintain an office may voluntarily surrender the license by filing the license and a...
• California Financial Code Section 1780
  If the commissioner finds that any person has violated any provision of this chapter or of any regulation or order issued under this chapter, the...
• California Financial Code Section 1781
  If, after notice and a hearing, the commissioner finds any of the following with respect to a foreign (other nation) bank that is licensed to...
• California Financial Code Section 1782
  (a) If the commissioner finds that any of the factors set forth in Section 1781 is true with respect to any foreign (other nation) bank...
• California Financial Code Section 1783
  Any foreign (other nation) bank whose license to maintain an office is suspended or revoked shall immediately surrender the license to the commissioner.
• California Financial Code Section 1784
  (a) Any foreign (other nation) bank to which an order is issued under Section 1781 or 1782 may apply to the commissioner to modify or...
• California Financial Code Section 1785
  (a) If the commissioner finds that any of the factors set forth in Section 1781 is true with respect to any foreign (other nation) bank...
• California Financial Code Section 1800
  (a) It is the intent of the Legislature in enacting this chapter to protect the people of this state from being victimized by unscrupulous practices...
• California Financial Code Section 1800.3
  (a) No person shall engage in the business of receiving money for the purpose of transmitting the same or its equivalent to foreign countries without...
• California Financial Code Section 1800.4
  The receipt of money by an incorporated telegraph company, or its agents, for immediate transmission by telegraph to foreign countries shall be exempt from licensure...
• California Financial Code Section 1800.5
  For the purposes of this chapter: (a) (1) "Receiving money for transmission" means receiving money for the purpose of transmitting the same or its equivalent...
• California Financial Code Section 1800.7
  (a) As used in this section, "designated person" means any agent, any applicant, the officers, directors, and controlling persons of any applicant or agent, and...
• California Financial Code Section 1800.9
  The commissioner may impose on any authorization, approval, license, or order issued pursuant to this chapter any conditions that he or she deems reasonable or...
• California Financial Code Section 1801
  (a) Fees shall be paid to, and collected by, the commissioner, as follows: (1) The fee for filing with the commissioner an application for a...
• California Financial Code Section 1801.1
  Each fiscal year the commissioner shall levy an assessment on a pro rata basis on those licensees which at any time during the preceding calendar...
• California Financial Code Section 1802
  (a) An application for a license shall be in writing, under oath, and in a form prescribed by the commissioner. It shall contain the name...
• California Financial Code Section 1802.2
  If the commissioner finds, with respect to an application for a license: (a) That the applicant has adequate capital as specified in Section 1814 to...
• California Financial Code Section 1802.6
  The license is not transferable or assignable.
• California Financial Code Section 1802.7
  If the application is approved by the commissioner he or she shall, upon the payment of the license fees, issue and deliver to the applicant...
• California Financial Code Section 1802.8
  (a) Before any applicant is issued a license the applicant shall file with the commissioner, in the form required by the commissioner, an irrevocable consent...
• California Financial Code Section 1803
  No licensee shall appoint or continue any person as an agent, unless the licensee and the person have made a written contract which contains each...
• California Financial Code Section 1803.1
  (a) No licensee shall appoint any person as an agent unless it has conducted a review of the proposed agent's fitness to act as an...
• California Financial Code Section 1803.2
  (a) Each licensee shall be liable as a principal for the transmission of the transmission money from the time when the transmission money is received...
• California Financial Code Section 1803.3
  (a) If, after notice and a hearing, the commissioner finds that an agent of a licensee or any director, officer, employee, or controlling person of...
• California Financial Code Section 1803.4
  (a) The licensee or the agent or former agent with respect to whom an order has been issued under Section 1803.3 may apply to the...
• California Financial Code Section 1803.5
  (a) Any licensee, having as an agent any person to whom an order has been issued pursuant to Section 1803.3 shall, when that order becomes...
• California Financial Code Section 1803.6
  An agent of a licensee shall not appoint a subagent to receive transmission money.
• California Financial Code Section 1804
  (a) No person shall, directly or indirectly, acquire control of a licensee unless the commissioner has first approved in writing of the acquisition of control....
• California Financial Code Section 1807
  (a) The commissioner may by order or regulation grant exemptions from this section in cases where the commissioner finds that the requirements of this section...
• California Financial Code Section 1807.5
  (a) Each licensee and each agent of a licensee shall make, keep, and preserve within the United States such books, accounts, and other records in...
• California Financial Code Section 1808
  (a) The commissioner may at any time and from time to time examine the business and any office, within or outside this state, of any...
• California Financial Code Section 1809
  (a) (1) Each licensee shall file with the commissioner a certified copy of every receipt form used by it or by its agents for money...
• California Financial Code Section 1810
  (a) Every licensee or its agent shall forward all moneys received for transmission to a foreign country or give instructions committing equivalent funds to the...
• California Financial Code Section 1810.5
  (a) Every licensee or its agent shall refund to the customer within 10 days of receipt of the customer's written request for a refund any...
• California Financial Code Section 1811
  (a) As security for the timely and proper delivery of transmission money received by it, each licensee subject to the order of the commissioner, shall...
• California Financial Code Section 1812
  In lieu of the deposit of cash or securities pursuant to Section 1811, a licensee may deliver to the commissioner the bond of a surety...
• California Financial Code Section 1813
  The money and securities deposited with the State Treasurer pursuant to Section 1811 and the proceeds of any bond held by the State Treasurer pursuant...
• California Financial Code Section 1814
  (a) Each licensee shall at all times maintain tangible shareholders' equity determined to be adequate by the commissioner of at least five hundred thousand dollars...
• California Financial Code Section 1815
  (a) The receipt presented to each customer for each transaction pursuant to subdivision (b) of Section 1810.5 shall clearly state the rate of exchange for...
• California Financial Code Section 1816
  All funds, less fees, received by a licensee or its agents for transmission to a foreign country shall constitute trust funds owned by and belonging...
• California Financial Code Section 1816.1
  For purposes of Sections 1816.2 to 1816.8, inclusive, the following definitions shall apply: (a) "Eligible security" means any United States currency eligible security or foreign...
• California Financial Code Section 1816.2
  (a) For purposes of Sections 1816.3 to 1816.8, inclusive, a licensee shall be deemed to own an eligible security only if the following apply: (1)...
• California Financial Code Section 1816.3
  If the commissioner finds that any eligible security or class of eligible securities is not of sufficient liquidity or quality to be eligible securities, the...
• California Financial Code Section 1816.4
  If the commissioner finds that any security or class of securities that is not an eligible security is of sufficient liquidity and quality to be...
• California Financial Code Section 1816.5
  The commissioner may by regulation or order declare a securities rating service to be an eligible securities rating service if the commissioner finds the following...
• California Financial Code Section 1816.6
  If the commissioner finds that a rating assigned to a class of securities by an eligible securities rating service indicates that the class of securities...
• California Financial Code Section 1816.7
  Each licensee shall at all times own eligible securities having an aggregate value computed in accordance with generally accepted accounting principles of not less than...
• California Financial Code Section 1816.8
  (a) In computing for purposes of Section 1816.7 the aggregate value of eligible securities owned by a licensee, all of the following shall be excluded:...
• California Financial Code Section 1817
  If it appears to the commissioner that a licensee is violating or failing to comply with any law of this state, the commissioner may direct...
• California Financial Code Section 1818
  If upon any hearing held pursuant to Section 1817 the commissioner finds that the licensee is violating or failing to comply with any law of...
• California Financial Code Section 1819
  The commissioner may revoke or suspend any license issued pursuant to this chapter, if, after notice and opportunity for hearing, he or she finds any...
• California Financial Code Section 1819.5
  (a) If the commissioner finds that any of the factors set forth in Section 1819 is true with respect to any licensee and that it...
• California Financial Code Section 1820
  Every order, decision, or other official act of the commissioner is subject to review in accordance with law.
• California Financial Code Section 1821
  Whenever it appears to the commissioner that a licensee has done or is doing any of the acts specified in subdivisions (a) to (g), inclusive,...
• California Financial Code Section 1822
  Whenever the commissioner has taken possession of the property and business of any licensee, such licensee, within 10 days after such taking, if it deems...
• California Financial Code Section 1823
  Every person who violates or fails to comply with this chapter, or who, without complying with this chapter, represents that he or she is authorized...
• California Financial Code Section 1824
  An appeal may be taken from the judgment of the court by the commissioner or by the licensee in the manner provided by law for...
• California Financial Code Section 1825
  When the commissioner takes possession of the property or business of any licensee for the purpose of liquidation or conservation, the commissioner shall liquidate or...
• California Financial Code Section 1826
  Any person who violates this chapter shall be liable to the people of the State of California in an action brought by the commissioner for...
• California Financial Code Section 1827
  (a) No agent of a licensee who has actual notice that the commissioner has suspended or revoked the license of a licensee or that the...
• California Financial Code Section 1851
  This chapter is known and may be cited as the Travelers Checks Act.
• California Financial Code Section 1852
  Unless the context otherwise requires, the definitions set forth in this section govern the construction of this chapter: (a) "Agent" means any person authorized by...
• California Financial Code Section 1852.1
  (a) Each fee for filing an application with the commissioner shall be paid at the time when such application is filed with the commissioner. (b)...
• California Financial Code Section 1852.2
  Fees shall be paid to, and collected by, the commissioner, as follows: (a) The fee for filing with the commissioner an application for a license...
• California Financial Code Section 1852.3
  The commissioner shall annually assess and collect from licensees an assessment in accordance with Section 33302.
• California Financial Code Section 1853
  No person shall engage in the business of issuing travelers checks without having first obtained a license hereunder.
• California Financial Code Section 1854
  (a) No license to issue travelers checks shall be required of any bank that is organized under the laws of this state, any national bank...
• California Financial Code Section 1854.1
  There is exempted from the provisions of Section 1853 the sale by a person licensed under Chapter 14 (commencing with Section 1800) or by any...
• California Financial Code Section 1855
  An application for a license shall be in writing, under oath, and in a form prescribed by the commissioner. It shall contain the name and...
• California Financial Code Section 1856
  Each application for a license shall be accompanied by such information and documents as the commissioner may by regulation or order reasonably require, including but...
• California Financial Code Section 1857
  The commissioner shall approve an application for a license within 90 days from the date of filing unless after a duly noticed hearing, the commissioner...
• California Financial Code Section 1857.5
  (a) In this section: (1) "Control" has the meaning set forth in Section 700. (2) "Officer" has the meaning set forth in Section 33057. (b)...
• California Financial Code Section 1858
  Prior to the issuance of a license pursuant to this chapter, and as a further condition to the issuance and continuing validity of such license,...
• California Financial Code Section 1859
  (a) Prior to the issuance of a license pursuant to this chapter, and as a further condition to the issuance of such license, each applicant...
• California Financial Code Section 1860
  If the application is approved by the commissioner, and the applicant has complied with Sections 1858 and 1859, the commissioner shall, upon the payment of...
• California Financial Code Section 1862
  The license is not transferable or assignable.
• California Financial Code Section 1863
  Each licensee shall file with the commissioner quarterly a report as of the end of the preceding calendar quarter which shall include: (a) An unaudited...
• California Financial Code Section 1863.1
  Each licensee shall, not more than 90 days after the close of each of its fiscal years or within a longer period as the commissioner...
• California Financial Code Section 1864
  The commissioner may at any time require any licensee to make and file with the commissioner a special report furnishing such relevant information as the...
• California Financial Code Section 1865
  (a) No licensee shall issue any form of traveler's check for sale in this state unless all of the following are satisfied: (1) The traveler's...
• California Financial Code Section 1866
  Every travelers check issued by a licensee, for sale in this state, shall bear the name of the licensee clearly imprinted thereon.
• California Financial Code Section 1867
  Each licensee shall be liable in accordance with the California Commercial Code for the payment of all travelers checks duly issued by it and lawfully...
• California Financial Code Section 1868
  Each licensee shall at all times maintain shareholder equity determined to be adequate by the commissioner.
• California Financial Code Section 1869
  No person shall become or continue to be an agent in California of a licensee, nor shall any licensee appoint or continue any person as...
• California Financial Code Section 1870
  No agent of a licensee shall, nor shall any licensee cause or permit any of its agents to, sell any travelers check issued by such...
• California Financial Code Section 1871
  Each agent of a licensee which sells any traveler's check issued by such licensee shall, and each licensee shall require each of its agents which...
• California Financial Code Section 1872
  No agent of a licensee shall, nor shall any licensee cause or permit any of its agents to, commingle any funds, less fees due agents,...
• California Financial Code Section 1873
  If any agent of a licensee shall commingle any funds, less fees due agents, received from the sale of travelers checks issued by such licensee...
• California Financial Code Section 1874
  All funds, less fees due agents pursuant to the agreement required by Section 1869, received by agents from the sale of travelers checks shall constitute...
• California Financial Code Section 1875
  No funds, less fees due agents, received by any agent of a licensee from the sale of travelers checks issued by such licensee, while held...
• California Financial Code Section 1876
  Nothing in this chapter shall be construed to prevent any licensee from taking any legal action necessary to enforce any claim which such licensee may
• California Financial Code Section 1876.1
  In this article: (a) "Eligible security" means any United States currency eligible security or foreign currency eligible security. (b) "Eligible securities rating service" means any...
• California Financial Code Section 1876.2
  (a) For purposes of this article, a licensee shall be deemed to own an eligible security only if: (1) The licensee owns the eligible security...
• California Financial Code Section 1876.3
  If the commissioner finds that any eligible security or class of eligible securities is not of sufficient liquidity or quality to be eligible securities, the...
• California Financial Code Section 1876.4
  If the commissioner finds that any security or class of securities which is not an eligible security is of sufficient liquidity and quality to be...
• California Financial Code Section 1876.5
  If the commissioner finds that a securities rating service: (a) Has been continuously engaged in the business of rating securities for a period of not...
• California Financial Code Section 1876.6
  If the commissioner finds that a rating assigned to a class of securities by an eligible securities rating service indicates that such class of securities...
• California Financial Code Section 1876.8
  (a) Each licensee shall at all times own United States currency eligible securities having an aggregate value not less than the aggregate face amount of...
• California Financial Code Section 1876.9
  (a) In computing for purposes of Section 1876.8 the aggregate value of eligible securities owned by a licensee, all of the following shall be excluded:...
• California Financial Code Section 1876.10
  In computing for purposes of subdivision (b) of Section 1876.8 the aggregate value of foreign currency eligible securities owned by a licensee, there shall be...
• California Financial Code Section 1876.11
  In the case of a licensee which is also licensed under Division 16 (commencing with Section 33000), the amount of aggregate value of eligible securities...
• California Financial Code Section 1876.12
  (a) (1) Upon application, the commissioner may exempt from this article a licensee, or an applicant for licensure under this chapter. (2) An application for...
• California Financial Code Section 1877
  (a) The commissioner in his or her discretion may at any time make such examinations within or outside of this state of any licensee under...
• California Financial Code Section 1880
  In this article, unless the context otherwise requires: (a) "Act" includes omission. (b) "Insolvent", when used with respect to any person, means a person who...
• California Financial Code Section 1880.5
  (a) No order issued by the commissioner under Section 1883, 1885, or 1886 shall become effective earlier than the 10th business day after the issuance...
• California Financial Code Section 1881
  (a) Whenever it appears to the commissioner that any person has violated, or that there is reasonable cause to believe that any person is about...
• California Financial Code Section 1882
  (a) If the commissioner finds that any person has violated, or that there is reasonable cause to believe that any person is about to violate,...
• California Financial Code Section 1883
  If, after notice and a hearing, the commissioner finds: (a) That any licensee or any California agent of a licensee has engaged or participated, is...
• California Financial Code Section 1884
  (a) If the commissioner finds that any of the factors set forth in Section 1883 is true with respect to any licensee or any California...
• California Financial Code Section 1885
  If, after notice and a hearing, the commissioner finds: (a) (1) That any subject person of a licensee has engaged or participated in any unsafe...
• California Financial Code Section 1886
  If, after notice and a hearing, the commissioner finds that any subject person of a licensee has, by engaging or participating in any act with...
• California Financial Code Section 1887
  (a) If the commissioner finds: (1) That any subject person of a licensee has been charged in an indictment issued by a grand jury or...
• California Financial Code Section 1888
  (a) Any licensee to which an order is issued under Section 1885, 1886, or 1887 or any subject person or former subject person of a...
• California Financial Code Section 1889
  If, after notice and a hearing, the commissioner finds: (a) That any licensee has violated any provision of this chapter or of any regulation or...
• California Financial Code Section 1890
  (a) If the commissioner finds that any of the factors set forth in Section 1889 is true with respect to any licensee and that it...
• California Financial Code Section 1891
  Any person whose license is suspended or revoked shall immediately deliver such license to the commissioner.
• California Financial Code Section 1892
  (a) Any person to whom an order is issued under Section 1889 or 1890 may apply to the commissioner to modify or rescind such order....
• California Financial Code Section 1893
  (a) If the commissioner finds that any of the factors set forth in Section 1889 is true with respect to any licensee and that it...
• California Financial Code Section 1894
  (a) No California agent of a licensee who has actual notice that the commissioner has suspended or revoked the license of such licensee or that...
• California Financial Code Section 1894.5
  In case any person engages in the business of selling in this state travelers checks that are issued by a second person which is neither...
• California Financial Code Section 1895
  Nothing in this chapter limits the power of the state to punish any person for any act which constitutes a crime under any statute.
• California Financial Code Section 1896
  Any person who willfully violates Section 1853 shall upon conviction be fined not more than ten thousand dollars ($10,000) or be imprisoned in the state...
• California Financial Code Section 1897
  Any person who violates any provision of this chapter shall be liable to the people of the State of California in an action brought by...
• California Financial Code Section 1900
  (a) (1) For purposes of this section, "foreign bank" means the business in this state of every foreign (other nation) bank licensed under Article 3...
• California Financial Code Section 1901
  (a) Whenever, in the judgment of the commissioner, it is necessary or advisable to make an extra examination of or to devote any extraordinary attention...
• California Financial Code Section 1902
  (a) The commissioner may by order or regulation grant exemptions from this section in cases where the commissioner finds that the requirements of this section...
• California Financial Code Section 1906
  The commissioner, whenever in his or her opinion the condition of the bank, trust company, or foreign banking corporation is such as to require such...
• California Financial Code Section 1907
  The commissioner, for good cause, at any time and from time to time may employ appraisers to appraise the value of any investment, asset, or...
• California Financial Code Section 1908
  The commissioner, a deputy commissioner, and every examiner assigned to an examination may administer an oath to any person whose testimony is required for the...
• California Financial Code Section 1910
  If a deputy commissioner or any examiner has knowledge of the insolvency or unsafe condition of any bank, trust company, or foreign banking corporation and...
• California Financial Code Section 1911
  A national banking association doing business in this state and receiving deposits of any bank organized under the laws of this state, at the request...
• California Financial Code Section 1911.5
  In Sections 1912 and 1913, "holding company" shall have the meaning set forth in Section 3700.
• California Financial Code Section 1912
  If it appears to the commissioner that a bank, trust company, or foreign banking corporation, or any holding company or subsidiary of the bank, trust...
• California Financial Code Section 1913
  If upon any hearing held pursuant to Section 1912 it appears to the commissioner that the bank, trust company, or foreign banking corporation, or any...
• California Financial Code Section 1913.5
  (a) For the purposes of this section, the following definitions are applicable: (1) "Account holder" includes, in the case of a deposit account, the depositor;...
• California Financial Code Section 1914
  Whenever he or she deems it expedient, the commissioner may call a meeting of the stockholders of any bank or trust company. Notice of the...
• California Financial Code Section 1915
  During any emergency period declared by the President of the United States, each bank shall conform to any order of the commissioner directed to it,...
• California Financial Code Section 1916
  During any emergency period declared by the Governor no bank shall transact any banking business except to such extent and subject to such regulations, limitations,...
• California Financial Code Section 1917
  (a) The commissioner may, in his or her discretion, bring an action in the name of the people of this state in a superior court...
• California Financial Code Section 1935
  (a) A California state bank shall prominently display in the lobby of its main office and each branch office, except an automated teller machine branch...
• California Financial Code Section 1951
  Any debt due a bank on which interest is past due and unpaid for the period of one year shall be charged off, unless it...
• California Financial Code Section 1952
  The commissioner at any time may require a bank to write down any asset held by it to a valuation which will represent its then...
• California Financial Code Section 3100
  The commissioner may, whenever it appears to him or her that any of the conditions described in subdivisions (a) to (h), inclusive, exist with respect...
• California Financial Code Section 3101
  Whenever the commissioner has taken possession of the property and business of any bank, such bank, within 10 days after such taking, if it deems...
• California Financial Code Section 3102
  An appeal may be taken from the judgment of the court by the commissioner or by the bank in the manner provided by law for...
• California Financial Code Section 3103
  Upon taking possession of the property and business of any bank, the commissioner shall forthwith give notice of such fact to all persons holding or...
• California Financial Code Section 3104
  Upon taking possession of the property and business of any bank, the commissioner has authority and it is his or her duty to collect all...
• California Financial Code Section 3105
  No attachment shall be issued against the property of any bank or trust company.
• California Financial Code Section 3106
  The commissioner, from time to time, under his or her official seal, may appoint one or more special deputy commissioners as his or her agent...
• California Financial Code Section 3107
  The compensation of special deputies, counsel, and other employees and assistants appointed to assist in the liquidation of any bank and the distribution of its...
• California Financial Code Section 3108
  Upon the commissioner taking possession of the business and property of any bank the superior court of the State of California for the county in...
• California Financial Code Section 3109
  The commissioner may sell, compromise, or compound any bad or doubtful debt owing the bank, which is for a principal sum not exceeding five hundred...
• California Financial Code Section 3110
  The commissioner may sell any real or personal property of the bank for cash or on credit and on such other terms and conditions as...
• California Financial Code Section 3110.1
  (a) The commissioner may, with the approval of the court and of the commissioner, sell any part or the whole of the business of the...
• California Financial Code Section 3111
  Within six months after taking possession of the property and business of any bank the commissioner may terminate or adopt any executory contract to which...
• California Financial Code Section 3112
  The commissioner in his or her own name or in the name of the bank may execute, acknowledge, and deliver any and all conveyances and...
• California Financial Code Section 3113
  The commissioner in the name of the delinquent bank or in his or her own name may prosecute and defend any and all actions and...
• California Financial Code Section 3114
  The commissioner from time to time shall deposit all moneys coming into his or her hands in the course of the liquidation of the bank...
• California Financial Code Section 3115
  The commissioner shall make an inventory of the assets of the bank in duplicate and file one in the office of the commissioner and one...
• California Financial Code Section 3116
  When the time fixed for the presentation of claims has expired the commissioner shall make in duplicate a full and complete list of all claims...
• California Financial Code Section 3117
  The commissioner shall cause notice to be given by advertisement in such newspapers of general circulation as he or she may select weekly for three...
• California Financial Code Section 3118
  All claims of every kind against the bank or against any property owned or held by such bank shall be presented to the commissioner in...
• California Financial Code Section 3119
  At any time and from time to time after the expiration of the time fixed for the presentation of claims, the commissioner, after obtaining approval...
• California Financial Code Section 3119.5
  (a) Expenses and claims of unsecured creditors have priority in the following order: (1) Expenses of liquidation and approved claims for fees and assessments due...
• California Financial Code Section 3120
  Objections to any claim not rejected by the commissioner may be made by any person interested by filing a copy of such objections with the...
• California Financial Code Section 3121
  Dividends remaining unpaid and any sums available for payment of deposits for which no claim was filed, which remain in the hands of the commissioner...
• California Financial Code Section 3121.5
  Whenever, under the provisions of this chapter, the commissioner is required to transmit unclaimed money or other unclaimed property to any state officer for deposit...
• California Financial Code Section 3122
  All approved claims of depositors and other creditors shall bear interest at the rate provided by law on judgments from the date that the commissioner...
• California Financial Code Section 3123
  Should the bank have in its possession for safekeeping or storage any jewelry, plate, money, specie, bullion, stocks, bonds, securities, valuable papers, or other valuable...
• California Financial Code Section 3124
  On the last day fixed in said notice for the removal of such property or on the date when such property is removed or the...
• California Financial Code Section 3125
  If any property be not removed within the time fixed by notice mailed by the commissioner, the commissioner may make such disposition of the property...
• California Financial Code Section 3126
  (a) When the commissioner has completed the liquidation of the bank, he or she shall petition the court for an order declaring the bank duly...
• California Financial Code Section 3131
  Whenever pursuant to the provisions of this chapter the approval of the court is required of any step in the liquidation proceedings such approval shall...
• California Financial Code Section 3132
  Whenever in the opinion of the commissioner the liquidation or reorganization of any bank taken in charge by him or her would be facilitated thereby,...
• California Financial Code Section 3150
  Any bank which voluntarily has ceased to do a banking business shall immediately notify the commissioner thereof and shall then proceed to liquidate its affairs....
• California Financial Code Section 3160
  Whenever any bank or trust company is being liquidated or whenever the trust business of any bank or trust company has been discontinued and the...
• California Financial Code Section 3161
  Upon the delivery of any money to the State Treasurer or upon the delivery of any property to the State Controller a certified copy of...
• California Financial Code Section 3162
  All money or other property delivered to the State Treasurer or State Controller pursuant to this article, except Section 3163, shall be deemed to be...
• California Financial Code Section 3180
  Whenever the commissioner deems it necessary in order to conserve the assets of any bank for the benefit of the depositors and other creditors, he...
• California Financial Code Section 3181
  A conservator so appointed has all of the powers and rights with relation to the business and the property of the bank for which he...
• California Financial Code Section 3182
  The commissioner shall cause to be made and completed at the earliest possible date such an examination of the affairs of a bank for which...
• California Financial Code Section 3183
  While any bank is in the hands of a conservator the commissioner may require the conservator to set aside and make available for withdrawal by...
• California Financial Code Section 3184
  The commissioner in his or her discretion may permit the conservator to receive deposits but any deposits received while the bank is in the hands...
• California Financial Code Section 3185
  If the commissioner becomes satisfied that it may safely be done and that it would be in the public interest he or she may terminate...
• California Financial Code Section 3186
  In any case in which a bank for which a conservator has been appointed has been permitted to accept deposits since the appointment of a...
• California Financial Code Section 3187
  The commissioner is authorized to assess and collect from all banks as may become subject to the provisions of this article their ratable share of...
• California Financial Code Section 3200
  Any bank, including a bank of which the commissioner has taken possession pursuant to Article 1 hereof or a bank for which a conservator has...
• California Financial Code Section 3201
  All depositors, creditors, stockholders, and other interested persons shall be given notice of any proposed plan of reorganization in such manner and at such times...
• California Financial Code Section 3202
  No plan of reorganization shall become effective until the commissioner finds that the plan is fair and equitable to all depositors, creditors, and stockholders and...
• California Financial Code Section 3203
  No creditor having security for the payment of his claim shall be affected in his right to enforce such security by the provisions of any...
• California Financial Code Section 3204
  When any plan of reorganization becomes effective all books, records, and assets of such bank shall be disposed of in accordance with the provisions of...
• California Financial Code Section 3220
  The Federal Deposit Insurance Corporation, in this article called the corporation, may be and act as the receiver without bond of any bank the deposits...
• California Financial Code Section 3221
  The commissioner, when he or she has taken possession of the property and assets of a closed insured bank for the purpose of liquidation and...
• California Financial Code Section 3222
  If the corporation accepts the appointment as such receiver, the rights of depositors and other creditors of the insured bank shall be determined in accordance...
• California Financial Code Section 3223
  The corporation as such receiver shall possess with respect to such closed insured bank all the powers, rights, and privileges given the commissioner under Article...
• California Financial Code Section 3224
  If the corporation pays or makes available for payment the insured deposit liabilities of a closed insured bank, the corporation, whether or not it has...
• California Financial Code Section 3225
  When acting as the receiver of a closed insured bank, the corporation with the consent of the commissioner and the approval of the court may...
• California Financial Code Section 3240
  The holder or transferor of a negotiable instrument transferred to a bank for collection has a preferred claim in the amount of the liability of...
• California Financial Code Section 3500
  As used in this article, unless the context otherwise requires, "corporation" means a corporation organized under the laws of this state for the purpose of...
• California Financial Code Section 3500.5
  The provisions of Chapter 1 (commencing with Section 99) applicable to, or with respect to, banks shall apply to, or with respect to, as the...
• California Financial Code Section 3501
  When authorized by the previous written consent of the commissioner as provided by Chapter 3 (commencing with Section 350) one or more persons may organize...
• California Financial Code Section 3502
  The articles of a corporation shall provide that the purpose of the corporation is to engage in the business of international and foreign banking and...
• California Financial Code Section 3503
  The articles of incorporation shall be submitted to the commissioner for his or her approval before they are filed with the Secretary of State pursuant...
• California Financial Code Section 3504
  Each corporation shall have power, under such rules and regulations as the commissioner may prescribe: (a) To purchase, sell, discount, and negotiate, with or without...
• California Financial Code Section 3505
  Except with the approval of the commissioner, no corporation shall invest in any one corporation an amount in excess of 10 per centum of its...
• California Financial Code Section 3506
  No corporation shall purchase, own, or hold stock or certificates of ownership in any other corporation organized under this article or under the laws of...
• California Financial Code Section 3507
  Nothing contained in this article shall prevent corporations from purchasing and holding stock in any corporation where such purchase shall be necessary to prevent a...
• California Financial Code Section 3508
  No corporation shall carry on any part of its business in the United States except such as, in the judgment of the commissioner, shall be...
• California Financial Code Section 3509
  No corporation shall engage in commerce or trade in commodities except as specifically provided in this article, nor shall it either directly or indirectly control...
• California Financial Code Section 3510
  It shall be unlawful for any director, officer, agent, or employee of any corporation to use or to conspire to use the credit, the funds,...
• California Financial Code Section 3511
  No corporation shall be organized without adequate shareholders' equity.
• California Financial Code Section 3512
  The provisions of Chapter 5 (commencing with Section 600) (except the provisions of Section 621) applicable to, or with respect to, banks shall apply to,...
• California Financial Code Section 3513
  Any bank may invest in the shares of any corporation organized under the provisions of this article, but the aggregate amount of stock held in...
• California Financial Code Section 3514
  (a) In this section, "foreign bank" means any company organized under the laws of a foreign country, a territory of the United States, Puerto Rico,...
• California Financial Code Section 3515
  Whenever it shall appear to the commissioner that any corporation has violated the provisions of its articles of incorporation or any law of this state,...
• California Financial Code Section 3516
  No corporation shall deposit any of its funds with any other moneyed corporation unless the other corporation has been nominated and designated as a depositary...
• California Financial Code Section 3517
  No corporation shall be the holder of any shares of its own capital stock unless such stock shall have been taken to prevent loss upon...
• California Financial Code Section 3518
  No corporation shall, either directly or indirectly, make any discount to any person for the purpose of enabling him to pay for or hold shares...
• California Financial Code Section 3519
  No corporation shall by any system of accounting or any device of bookkeeping, directly or indirectly enter any of its assets upon its books in...
• California Financial Code Section 3520
  Every corporation shall conform its methods of keeping its books and records to such orders in respect thereto as have been made and promulgated by...
• California Financial Code Section 3521
  Each official communication directed by the commissioner to a corporation or to any officer thereof, relating to an examination or investigation conducted by the department...
• California Financial Code Section 3522
  On or before the first day of February in each year, each corporation and every foreign corporation licensed by the commissioner to transact the business...
• California Financial Code Section 3523
  Every corporation and foreign corporation shall also make such other special reports to the commissioner as he or she may from time to time require,...
• California Financial Code Section 3524
  If any corporation or foreign corporation shall fail to make any report required by this article on or before the day designated for the making...
• California Financial Code Section 3525
  Every corporation shall hold a meeting of its stockholders annually upon a date fixed in its bylaws at its main office, or if its main...
• California Financial Code Section 3526
  Every corporation shall keep at its main office, or if its main office is to be located outside of this state, at its branch or...
• California Financial Code Section 3527
  Every corporation shall make reports to the commissioner at such times and in such form as the commissioner may require and is subject to examination...
• California Financial Code Section 3529
  No officer, director, clerk or other employee of any corporation, and no person in any way interested or concerned in the management of its affairs,...
• California Financial Code Section 3531
  Every officer, director, clerk, employee, or agent of any corporation who embezzles, abstracts, or willfully misapplies any of the moneys, funds, credits, securities, evidence of...
• California Financial Code Section 3532
  Whoever being connected in any capacity with any corporation represents in any way that the State of California is liable for the payment of any...
• California Financial Code Section 3533
  No person shall act in this State as the representative of any foreign corporation in transacting the business described in this article as the business...
• California Financial Code Section 3534
  Every foreign corporation before being licensed by the commissioner to transact in this state the business of a corporation, or any part thereof, shall subscribe...
• California Financial Code Section 3535
  At the time the application certificate is first submitted to the commissioner, such corporation shall also submit a duly authenticated copy of its charter, or...
• California Financial Code Section 3536
  No foreign corporation shall transact in this state the business defined in this article or any part thereof, unless such corporation shall have: (a) Been...
• California Financial Code Section 3537
  When the commissioner shall have issued a license to any foreign corporation, it may engage in the business of a corporation of the kind authorized...
• California Financial Code Section 3538
  Every foreign corporation, before receiving a license to transact business in this state, shall deposit with the State Treasurer of the State of California upon...
• California Financial Code Section 3539
  The foreign corporation shall pay a license fee of five hundred dollars ($500).
• California Financial Code Section 3540
  Every foreign corporation, duly licensed by the commissioner to transact in this state the business defined and authorized in this article, or any part thereof,...
• California Financial Code Section 3541
  Whenever the commissioner shall have revoked the license of any such foreign corporation and shall have taken the action to make such revocation effective, all...
• California Financial Code Section 3542
  Nothing in this division restricts the right of a state international or foreign banking or financing corporation to convert into an international or foreign banking...
• California Financial Code Section 3543
  An international or foreign banking or financing corporation organized under the laws of the United States may convert into a state international or foreign banking...
• California Financial Code Section 3544
  Nothing in this division restricts the right of any one or more state international or foreign banking or financing corporations to merge into or consolidate...
• California Financial Code Section 3545
  Nothing in this division restricts one or more international or foreign banking or financing corporations organized under the laws of the United States from merging...
• California Financial Code Section 3546
  Whenever a state international or foreign banking or financing corporation survives the merger of one or more international or foreign banking or financing corporations and...
• California Financial Code Section 3547
  Whenever one or more state international or foreign banking or financing corporations and one or more international or foreign banking or financing corporations organized under...
• California Financial Code Section 3548
  Whenever an international or foreign banking or financing corporation organized under the laws of the United States converts into a state international or foreign banking...
• California Financial Code Section 3560
  Any bank may, with the consent of the commissioner, upon such conditions and under such regulations as the commissioner may prescribe, invest in the stock...
• California Financial Code Section 3561
  Every bank investing in the capital stock of any corporation described in Section 3560 shall be required to furnish information concerning the condition of such...
• California Financial Code Section 3562
  Before any bank shall be permitted to purchase stock in any corporation described in Section 3560 the said corporation shall enter into an agreement or...
• California Financial Code Section 3570
  Any bank may, with the consent of the commissioner, upon such conditions and under such regulations as the commissioner may prescribe, invest in the stock...
• California Financial Code Section 3580
  Any bank may, with the consent of the commissioner, upon such conditions and under such regulations as the commissioner may prescribe, acquire and hold, directly...
• California Financial Code Section 3600
  This chapter is known and may be cited as the "Bank Extraordinary Situation Closing Act."
• California Financial Code Section 3601
  "Extraordinary Situation" means any condition or occurrence, other than as set forth in Section 3100, which may interfere or is inconsistent with the conduct of...
• California Financial Code Section 3602
  Whenever the commissioner determines that an extraordinary situation exists anywhere in this state the commissioner may, by proclamation, authorize banks located in the affected area...
• California Financial Code Section 3603
  (a) Whenever the officers of a bank are of the opinion that an extraordinary situation exists which affects or may affect one or more of...
• California Financial Code Section 3604
  A bank closing an office or offices pursuant to the authority granted under subdivision (a) of Section 3603 shall give prompt notice of its action...
• California Financial Code Section 3605
  Any day on which a bank or any one or more of its offices is closed pursuant to the authorization granted by this chapter shall...
• California Financial Code Section 3606
  Provisions of this chapter shall be construed and applied as being in addition to, and not a substitution for, or limitation of, any other law...
• California Financial Code Section 3700
  "Bank holding company" means: (a) Any person or company which: (1) Directly or indirectly owns, controls, or holds with power to vote, 10 percent or...
• California Financial Code Section 3701
  "Company" means any domestic or foreign corporation, voting trust, business trust, limited partnership, partnership fund, joint stock company, association, syndicate, organized group of persons, or...
• California Financial Code Section 3702
  "Subsidiaries", with respect to a specified bank holding company, means: (1) Any company 10 percent or more of whose voting securities are directly or indirectly...
• California Financial Code Section 3703
  The commissioner may from time to time require, under oath or otherwise, reports from any bank holding company and its subsidiaries in such form and...
• California Financial Code Section 3704
  Each bank holding company and its subsidiaries shall be subject to examination by the commissioner. The commissioner may use, for this purpose, his or her...
• California Financial Code Section 3705
  With respect to a trust company controlled by or under common control with a title insurance company, the commissioner in cooperation with the Insurance Commissioner...
• California Financial Code Section 3706
  Nothing in this chapter shall be construed to authorize the commissioner to require reports from a national bank or to examine a national bank contrary...
• California Financial Code Section 3707
  Pursuant to the authority contained in Section 1 of Article XV of the California Constitution, the restrictions upon rates of interest contained in Section 1...
• California Financial Code Section 3750
  This chapter does not apply to any of the following transactions: (a) An acquisition of control of a California state bank that requires the approval...
• California Financial Code Section 3751
  Each application filed with the commissioner for an approval under this chapter shall be in the form, shall contain the information, shall be signed in...
• California Financial Code Section 3752
  The fee for filing with the commissioner an application for an approval under this chapter is two thousand five hundred dollars ($2,500).
• California Financial Code Section 3753
  (a) The definitions that are set forth in or are applicable to Section 3(d) of the Bank Holding Company Act of 1956 (12 U.S.C. Sec....
• California Financial Code Section 3754
  (a) The definitions that are set forth in or are applicable to Section 44 of the Federal Deposit Insurance Act (12 U.S.C. Sec. 1831u) apply...
• California Financial Code Section 3800
  In this chapter, unless the context otherwise requires: (a) "Branch business unit" has the meaning set forth in subdivision (a) of Section 4840. (b) "Core...
• California Financial Code Section 3801
  Each application filed with the commissioner under this chapter or under any regulation or order issued under this chapter shall be in the form, shall...
• California Financial Code Section 3802
  (a) Each foreign (other state) bank that maintains a facility or a California branch office shall file with the commissioner such reports as and when...
• California Financial Code Section 3803
  Each foreign (other state) bank that maintains a facility (other than a foreign (other state) national bank that maintains a California branch office) and each...
• California Financial Code Section 3804
  Fees shall be paid to and collected by the commissioner as follows: (a) The fee for filing with the commissioner an application by an uninsured...
• California Financial Code Section 3805
  (a) Any foreign (other state) state bank is exempted from the restrictions of Section 1 of Article XV of the California Constitution relating to rates...
• California Financial Code Section 3806
  (a) In this section, "subject bank" means a bank organized under the laws of any territory of the United States, Puerto Rico, Guam, American Samoa,...
• California Financial Code Section 3820
  No foreign (other state) state bank may transact core banking business in this state except at a branch office established in accordance with federal law...
• California Financial Code Section 3821
  Section 3820 does not prohibit: (a) Any foreign (other state) state bank that does not maintain a California branch office from carrying on the activities...
• California Financial Code Section 3822
  No foreign (other state) bank may establish or maintain a California branch office unless it is qualified to transact intrastate business in this state under...
• California Financial Code Section 3823
  No foreign (other state) bank may establish or maintain a California branch office unless the bank is insured.
• California Financial Code Section 3824
  (a) (1) No foreign (other state) bank may merge as the surviving corporation with a California bank, except that an insured foreign (other state) bank...
• California Financial Code Section 3825
  (a) No foreign (other state) bank that does not already maintain a California branch office may: (1) Merge as the surviving bank with a California...
• California Financial Code Section 3826
  The minimum age requirement set forth in Section 3825 does not apply in any case in which the factor set forth in subdivision (a) and...
• California Financial Code Section 3827
  (a) In case a foreign (other state) state bank that maintains a California branch office is a commercial bank, in addition to other provisions of...
• California Financial Code Section 3840
  No provision of this article applies to an insured foreign (other state) bank that maintains a California branch office.
• California Financial Code Section 3841
  (a) No insured foreign (other state) bank may establish or maintain an office in this state at which it engages in noncore banking business unless...
• California Financial Code Section 3842
  Not less than 30 days before an insured foreign (other state) bank establishes a facility, it shall file with the commissioner a report and the...
• California Financial Code Section 3843
  (a) Not less than 30 days before establishing a facility, an insured foreign (other state) bank shall file with the commissioner, in the form that...
• California Financial Code Section 3844
  Not less than 30 days before an insured foreign (other state) bank relocates a facility, it shall file a report with the commissioner.
• California Financial Code Section 3845
  Not less than 30 days before an insured foreign (other state) bank closes a facility, it shall file a report with the commissioner.
• California Financial Code Section 3860
  In this article, unless the context otherwise requires: (a) "Controlling person," when used with respect to an uninsured foreign (other state) bank, means any person...
• California Financial Code Section 3861
  (a) In this section, "act" includes (without limitation) omission. (b) For purposes of making findings on an application by an uninsured foreign (other state) bank...
• California Financial Code Section 3862
  (a) No uninsured foreign (other state) bank may establish or maintain an office in this state at which it engages in noncore banking business unless...
• California Financial Code Section 3863
  (a) No uninsured foreign (other state) bank may establish or maintain a facility unless the commissioner has first approved the establishment of the office and...
• California Financial Code Section 3864
  (a) No uninsured foreign (other state) bank that is licensed to maintain a facility may relocate the office unless the commissioner has first approved the...
• California Financial Code Section 3865
  An uninsured foreign (other state) bank that is licensed to maintain a facility may, subject to any regulations that the commissioner may prescribe, engage in...
• California Financial Code Section 3866
  (a) (1) No uninsured foreign (other state) bank that is licensed to maintain a facility may close the office unless the commissioner has first approved...
• California Financial Code Section 3867
  (a) Any uninsured foreign (other state) bank that holds a license to maintain a facility may voluntarily surrender the license by filing the license and...
• California Financial Code Section 3868
  (a) (1) No uninsured foreign (other state) bank may be issued a license to maintain a facility unless it has first filed with the commissioner,...
• California Financial Code Section 3869
  Each uninsured foreign (other state) bank that is licensed to maintain a facility shall assign to the office a popular name that includes the term...
• California Financial Code Section 3870
  Each uninsured foreign (other state) bank that is licensed to maintain a facility shall post its license in a conspicuous place at the office.
• California Financial Code Section 3871
  No license is transferable or assignable.
• California Financial Code Section 3900
  In this chapter: (a) "Nonbank corporation" means any corporation incorporated or proposed to be incorporated under the laws of this state, other than (1) any...
• California Financial Code Section 3901
  An application for a certificate of approval of the subject name of a nonbank corporation shall be in such form, shall contain such information, shall...
• California Financial Code Section 3902
  The fee for filing with the commissioner an application for a certificate of approval of the subject name of a nonbank corporation shall be twenty-five...
• California Financial Code Section 3903
  If the commissioner finds, with respect to an application for a certificate of approval of the subject name of a nonbank corporation, that the subject...
• California Financial Code Section 3904
  Promptly after the articles of a nonbank corporation, with the certificate of approval of the subject name of such nonbank corporation attached thereto, are filed...
• California Financial Code Section 4000
  (a) For purposes of this division, the following terms have the following meanings: (1) "Charge cardholder" and "charge card issuer" have the meaning defined in...
• California Financial Code Section 4001
  (a) A supervised financial organization or charge card issuer may not charge more than any of the following amounts: (1) If set forth in the...
• California Financial Code Section 4002
  (a) (1) Upon the request of a person who has obtained a police report pursuant to Section 530.6 of the Penal Code, a supervised financial...
• California Financial Code Section 4050
  This division shall be known and may be cited as the California Financial Information Privacy Act.
• California Financial Code Section 4051
  (a) The Legislature intends for financial institutions to provide their consumers notice and meaningful choice about how consumers' nonpublic personal information is shared or sold...
• California Financial Code Section 4051.5
  (a) The Legislature finds and declares all of the following: (1) The California Constitution protects the privacy of California citizens from unwarranted intrusions into their...
• California Financial Code Section 4052
  For the purposes of this division: (a) "Nonpublic personal information" means personally identifiable financial information (1) provided by a consumer to a financial institution, (2)...
• California Financial Code Section 4052.5
  Except as provided in Sections 4053, 4054.6, and 4056, a financial institution shall not sell, share, transfer, or otherwise disclose nonpublic personal information to or...
• California Financial Code Section 4053
  (a) (1) A financial institution shall not disclose to, or share a consumer's nonpublic personal information with, any nonaffiliated third party as prohibited by Section...
• California Financial Code Section 4053.5
  Except as otherwise provided in this division, an entity that receives nonpublic personal information from a financial institution under this division shall not disclose this...
• California Financial Code Section 4054
  (a) Nothing in this division shall require a financial institution to provide a written notice to a consumer pursuant to Section 4053 if the financial...
• California Financial Code Section 4054.6
  (a) When a financial institution and an organization or business entity that is not a financial institution ("affinity partner") have an agreement to issue a...
• California Financial Code Section 4056
  (a) This division shall not apply to information that is not personally identifiable to a particular person. (b) Notwithstanding Sections 4052.5, 4053, 4054, and 4054.6,...
• California Financial Code Section 4056.5
  (a) The provisions of this division do not apply to any person or entity that meets the requirements of paragraph (1) or (2) below. However,...
• California Financial Code Section 4057
  (a) An entity that negligently discloses or shares nonpublic personal information in violation of this division shall be liable, irrespective of the amount of damages...
• California Financial Code Section 4058
  Nothing in this division shall be construed as altering or annulling the authority of any department or agency of the state to regulate any financial...
• California Financial Code Section 4058.5
  This division shall preempt and be exclusive of all local agency ordinances and regulations relating to the use and sharing of nonpublic personal information by...
• California Financial Code Section 4058.7
  Nothing in this division shall prevent an insurer, as defined in Section 23 of the Insurance Code, from combining the form required by subdivision (d)...
• California Financial Code Section 4059
  The provisions of this division shall be severable, and if any phrase, clause, sentence, or provision is declared to be invalid or is preempted by...
• California Financial Code Section 4060
  This division shall become operative on July 1, 2004.
• California Financial Code Section 4100
  On or after July 1, 2006, a supervised financial institution shall not issue a consumer deposit account number to a customer, if that account number...
• California Financial Code Section 4800
  This division shall be known and may be cited as the "Depository Corporation Sale, Merger, and Conversion Law."
• California Financial Code Section 4801
  In this division, unless otherwise expressly provided: (a) A reference to a statute or to a regulation includes the statute or regulation, as amended, whether...
• California Financial Code Section 4802
  If any provision of this division or the application thereof to any person or circumstances is held invalid, illegal, or unenforceable, such invalidity, illegality, or...
• California Financial Code Section 4803
  If and to the extent that any provision of this division is preempted by federal law, the provision does not apply and shall not be
• California Financial Code Section 4805.01
  Subject to additional definitions contained in this division that are applicable to specific provisions of this division and unless the context otherwise requires: (a) The...
• California Financial Code Section 4805.02
  (a) In this division, "bank" means a commercial bank or trust company (other than an industrial loan company authorized to engage in trust business). "Bank"...
• California Financial Code Section 4805.03
  "California" means: (a) When used with respect to a savings association, in the case of a state savings association, a savings association that is organized...
• California Financial Code Section 4805.04
  "California federally licensed foreign (other nation) bank," when used with respect to a sale or merger, means a foreign (other nation) bank that is authorized...
• California Financial Code Section 4805.05
  "California state-licensed foreign (other nation) bank," when used with respect to a sale or merger, means a foreign (other nation) bank that is licensed under...
• California Financial Code Section 4805.055
  "Commissioner" means the Commissioner of Financial Institutions.
• California Financial Code Section 4805.06
  "Depository corporation" means a state or federal depository corporation.
• California Financial Code Section 4805.07
  "Federal depository corporation" means a national banking association or a federal savings association.
• California Financial Code Section 4805.08
  "Federal savings association" means a savings association or savings bank organized pursuant to Section 5 of the Home Owners' Loan Act (12 U.S.C. Sec. 1464).
• California Financial Code Section 4805.09
  "Foreign" or "foreign (other state)" means: (a) When used with respect to a savings association, in the case of a state savings association, a savings...
• California Financial Code Section 4805.10
  In this division, "industrial loan company" means an industrial bank as defined in Section 105.5.
• California Financial Code Section 4805.11
  "Insured," when used with respect to a depository corporation, means a depository corporation the deposits of which are insured by the Federal Deposit Insurance Corporation...
• California Financial Code Section 4805.12
  "Law of the domicile" means: (a) When used with respect to a federal depository corporation, the law of the United States. (b) When used with...
• California Financial Code Section 4805.13
  "Merger," when used with respect to a merger in a case where the surviving corporation is a federal depository corporation and federal law authorizes a...
• California Financial Code Section 4805.15
  "Share" means: (a) When used with respect to a California state savings association that is authorized to issue guarantee stock, a share of guarantee stock....
• California Financial Code Section 4805.16
  "Shareholder" means: (a) When used with respect to a California state savings association that is authorized to issue guarantee stock, a holder of record of...
• California Financial Code Section 4805.17
  "State depository corporation" means a state bank, a state savings association, or an industrial loan company.
• California Financial Code Section 4805.18
  "Uninsured," when used with respect to a deposit, means a deposit or any part of a deposit that is not insured by the Federal Deposit...
• California Financial Code Section 4820
  For purposes of this division, a national banking association or federal savings association is deemed to be a corporation.
• California Financial Code Section 4820.5
  For purposes of this division, depository corporations are divided into the following classes: (a) Banks. (b) Savings associations. (c) Industrial loan companies.
• California Financial Code Section 4821
  The provisions of the General Corporation Law (Division 1 (commencing with Section 100) of Title 1 of the Corporations Code) shall apply to any transaction...
• California Financial Code Section 4821.5
  Any certificate of authority, license, or other authorization issued under subdivision (b) of Section 4858, subdivision (b) of Section 4877.13, subdivision (b) of Section 4888,...
• California Financial Code Section 4822
  (a) References in this division to the voting of the shares of a California state depository corporation shall be construed in accordance with Section 111...
• California Financial Code Section 4823
  References in this division to shareholders' equity mean shareholders' equity determined in accordance with generally accepted accounting principles, subject (a) in the case of California...
• California Financial Code Section 4824
  In determining for purposes of this division whether the shareholders' equity of a California state depository corporation will be adequate: (a) In case the corporation...
• California Financial Code Section 4825
  A California state depository corporation may merge with a corporation or other business entity that is not a depository corporation if the California state depository...
• California Financial Code Section 4826
  Notwithstanding any other provision of law, no savings association or industrial loan company may convert into a bank if the ownership of the savings association...
• California Financial Code Section 4826.5
  Notwithstanding any other provision of this division: (a) The provisions of Chapter 22 (commencing with Section 3800) of Division 1 apply to any transaction which...
• California Financial Code Section 4827
  Except as expressly provided otherwise in this division: (a) (1) No sale of a whole business unit (as defined in Section 4840) or merger in...
• California Financial Code Section 4827.3
  Except as otherwise provided in paragraph (2) of subdivision (a) of Section 4827.7 in the case of a California state-licensed foreign (other nation) bank or...
• California Financial Code Section 4827.7
  (a) (1) Except as otherwise provided in paragraph (2): (A) No California state depository corporation may, as the selling or disappearing depository corporation, make a...
• California Financial Code Section 4828
  Subject to the provisions of Sections 4827.3 and 4827.7 but notwithstanding any other provision of law: (a) (1) If, as a result of any sale,...
• California Financial Code Section 4828.3
  A California state bank or an industrial loan company may, with the approval of the commissioner and its board and, if the transaction constitutes a...
• California Financial Code Section 4828.7
  (a) The definitions in Section 4840 apply to this section. (b) In case a California state-licensed foreign (other nation) bank sells all or substantially all...
• California Financial Code Section 4830
  Every final order, decision, license, or other official act of the commissioner under this division is subject to judicial review in accordance with law.
• California Financial Code Section 4831
  (a) The commissioner may from time to time issue regulations and orders as may in his or her opinion be necessary to carry out the...
• California Financial Code Section 4832
  Whenever the commissioner issues an order or license under this division, he or she may impose conditions as may in his or her opinion be...
• California Financial Code Section 4833
  In any proceeding under this division: (a) The burden of proving that an application should be approved is upon the applicant. (b) The burden of...
• California Financial Code Section 4834
  The commissioner may honor applications from interested persons for interpretive opinions regarding any provision of this division or of any regulation or order issued under...
• California Financial Code Section 4835
  Each application and report filed with the commissioner under this division or under any regulation or order issued under this division shall be in the...
• California Financial Code Section 4836
  No person shall make any untrue statement of any material fact in any application or report filed with the commissioner under this division or under...
• California Financial Code Section 4837
  In determining whether to approve any application filed under this division or under any regulation or order issued under this division, the commissioner may consider...
• California Financial Code Section 4838
  If the commissioner finds, with respect to any application filed under this division or under any regulation or order issued under this division, that not...
• California Financial Code Section 4839
  Fees shall be paid to, and collected by, the commissioner, as follows: (a) The fee for filing an application for approval of a sale under...
• California Financial Code Section 4840
  In this chapter, unless the context otherwise requires: (a) "Branch business unit" means all or substantially all of the business of a branch office of...
• California Financial Code Section 4841
  The provisions of Section 1001 of the Corporations Code shall not apply to any transaction which is subject to this chapter.
• California Financial Code Section 4842
  If a trust is transferred under this chapter, the transfer shall be good cause for removal of the trustee under the Trust Law (Division 9...
• California Financial Code Section 4843
  In case a national banking association or federal savings association that is authorized to transact trust business in this state sells a partial business unit...
• California Financial Code Section 4845
  In this article, unless the context otherwise requires, "sale" means any of the sales described in Section 4846.
• California Financial Code Section 4846
  With the approval of the commissioner: (a) A bank may sell its whole business unit to a California state bank or a California state-licensed foreign...
• California Financial Code Section 4847
  A seller and purchaser shall make an agreement of sale, providing: (a) That the seller shall sell to the purchaser, and the purchaser shall purchase...
• California Financial Code Section 4848
  The agreement of sale shall be approved by the seller and purchaser, as follows: (a) In the case of a California state depository corporation: (1)...
• California Financial Code Section 4849
  (a) Any amendment to an agreement of sale shall be approved by the seller and purchaser, as follows: (1) In the case of a California...
• California Financial Code Section 4850
  In the case of a seller or purchaser which is a California state depository corporation, any approval of the outstanding shares of the corporation required...
• California Financial Code Section 4851
  In obtaining any approval of outstanding shares required for an agreement of sale, in case the purchaser is a California state depository corporation, the purchaser,...
• California Financial Code Section 4852
  A purchaser or seller that is a California state depository corporation, with the approval of its board and without further approval of the outstanding shares,...
• California Financial Code Section 4853
  In case a purchaser is a California state depository corporation, the provisions of Chapter 13 (commencing with Section 1300) of Division 1 of Title 1...
• California Financial Code Section 4854
  A purchaser shall file the following with the commissioner: (a) A copy of the agreement of sale. (b) An officers' certificate of the purchaser, certifying...
• California Financial Code Section 4855
  If the commissioner finds all of the following with respect to an application for approval of a sale, the commissioner shall approve the application: (a)...
• California Financial Code Section 4857
  After an application for approval of a sale has been approved and all conditions precedent to the sale have been fulfilled, the commissioner shall approve...
• California Financial Code Section 4858
  When a sale becomes effective: (a) Unless the purchaser provided otherwise in the application for approval of the sale or unless the commissioner provided otherwise...
• California Financial Code Section 4859
  When a sale becomes effective: (a) The purchaser shall succeed, without other transfer, to all the rights and property of the seller except any rights...
• California Financial Code Section 4860
  No action on account of any debt or liability assumed by a purchaser in a sale may be commenced against the seller more than one...
• California Financial Code Section 4861
  Promptly after a sale becomes effective: (a) The seller shall: (1) Surrender to the commissioner for cancellation the certificates of authority or licenses issued to...
• California Financial Code Section 4862
  (a) After a sale becomes effective, the commissioner shall issue, upon application, a certificate under his or her official seal, stating that the seller sold...
• California Financial Code Section 4870
  In this article, unless the context otherwise requires, "sale" means any of the sales described in Section 4871.
• California Financial Code Section 4871
  (a) A California state bank may sell its whole business unit to a national banking association, a California federally licensed foreign (other nation) bank, or...
• California Financial Code Section 4871.5
  (a) No provision of Division 1 (commencing with Section 99), except the provisions of Chapter 22 (commencing with Section 3800) of Division 1, prohibits or...
• California Financial Code Section 4872
  A sale is subject to the provisions of Sections 4847 to 4850, inclusive, and 4852 as if the sale were a sale of the type...
• California Financial Code Section 4873
  A sale shall have the same effect as provided in Sections 4859 and 4860 in the case of a sale of the type defined in...
• California Financial Code Section 4874
  Promptly after a sale becomes effective: (a) The seller shall: (1) Surrender to the commissioner for cancellation the certificates of authority or licenses issued to...
• California Financial Code Section 4875
  (a) After a sale becomes effective, the seller or purchaser may issue an officer's certificate stating that the seller sold its whole business unit to...
• California Financial Code Section 4876.01
  In this article, unless the context otherwise requires, "sale" means any sale described in Section 4876.02.
• California Financial Code Section 4876.02
  With the approval of the commissioner, a California state independent trust company may sell its whole business unit to an uninsured foreign (other state) state...
• California Financial Code Section 4876.03
  A sale is subject to the provisions of Sections 4847 to 4852 as if the sale were a sale of the type defined in Section
• California Financial Code Section 4876.04
  A seller shall file the following with the commissioner: (a) A copy of the agreement of sale. (b) An officers' certificate of the purchaser, certifying...
• California Financial Code Section 4876.05
  If the commissioner finds all of the following with respect to an application for approval of a sale, the commissioner shall approve the application: (a)...
• California Financial Code Section 4876.06
  After an application for approval of a sale has been approved and all conditions precedent to the sale have been fulfilled, the commissioner shall approve...
• California Financial Code Section 4876.07
  A sale shall have the same effect as provided in Sections 4859 and 4860 in the case of a sale of the type defined in...
• California Financial Code Section 4876.08
  Promptly after a sale becomes effective: (a) The seller shall: (1) Surrender to the commissioner for cancellation the certificates of authority issued to it by...
• California Financial Code Section 4876.09
  (a) After a sale becomes effective, the seller or purchaser may issue an officers' certificate stating that the seller sold its whole business unit to...
• California Financial Code Section 4877.01
  In this article, unless the context otherwise requires, "sale" means any of the sales described in Section 4877.02.
• California Financial Code Section 4877.02
  A California state bank or a California industrial loan company may sell a California branch business unit to an insured foreign (other state) bank or...
• California Financial Code Section 4877.03
  No provision of Division 1 (commencing with Section 99), except the provisions of Chapter 22 (commencing with Section 3800) of Division 1, prohibits or restricts...
• California Financial Code Section 4877.04
  A sale is subject to the provisions of Sections 4879.03 to 4879.06, inclusive, and Section 4879.08 as if the sale were a sale of the...
• California Financial Code Section 4877.05
  A sale shall have the same effect as provided in Sections 4879.14 and 4879.15 in the case of a sale of the type defined in...
• California Financial Code Section 4877.06
  Promptly after a sale becomes effective, the seller shall: (a) Surrender to the commissioner for cancellation the certificate of authority or license issued to it...
• California Financial Code Section 4877.07
  (a) After a sale becomes effective, the seller or purchaser may issue an officer's certificate stating that the seller sold a California branch business unit...
• California Financial Code Section 4878.01
  In this article, unless the context otherwise requires, "sale" means any sale described in Section 4878.02.
• California Financial Code Section 4878.02
  With the approval of the commissioner, a California state bank or savings association may sell a partial trust business unit to an uninsured foreign (other...
• California Financial Code Section 4878.03
  A sale is subject to the provisions of Sections 4879.03 to 4879.09, inclusive, as if the sale were a sale of the type defined in...
• California Financial Code Section 4878.04
  If the commissioner finds all of the following with respect to an application for approval of a sale, the commissioner shall approve the application: (a)...
• California Financial Code Section 4878.05
  After an application for approval of a sale has been approved by the commissioner and all conditions precedent to the sale have been fulfilled, the...
• California Financial Code Section 4878.06
  A sale shall have the same effect as provided in Sections 4879.14 and 4879.15 in the case of a sale of the type defined in...
• California Financial Code Section 4878.07
  (a) In case a seller is a California state commercial bank and sells all of its trust business in a sale: (1) As of the...
• California Financial Code Section 4878.08
  (a) After a sale becomes effective, the seller or purchaser may issue an officers' certificate stating that the seller sold a partial trust business unit...
• California Financial Code Section 4879.01
  In this article, unless the context otherwise requires, "sale" means any of the sales described in Section 4879.02.
• California Financial Code Section 4879.02
  With the approval of the commissioner: (a) A bank may sell a partial business unit to a California state bank pursuant to (1) this article,...
• California Financial Code Section 4879.03
  A seller and purchaser shall make an agreement of sale, providing: (a) That the seller shall sell to the purchaser, and the purchaser shall purchase...
• California Financial Code Section 4879.04
  The agreement of sale shall be approved by the seller and purchaser, as follows: (a) In the case of a California state depository corporation: (1)...
• California Financial Code Section 4879.05
  (a) Any amendment to an agreement of sale shall be approved by the seller and purchaser, as follows: (1) In the case of a California...
• California Financial Code Section 4879.06
  In the case of a seller or purchaser that is a California state depository corporation, any approval of the outstanding shares of the corporation required...
• California Financial Code Section 4879.07
  In obtaining any approval of outstanding shares required for an agreement of sale, a purchaser or seller that is a California state depository corporation and,...
• California Financial Code Section 4879.08
  A purchaser or seller that is a California state depository corporation, with the approval or its board and without further approval of the outstanding shares,...
• California Financial Code Section 4879.09
  A purchaser or seller that is a California state depository corporation or California state-licensed foreign (other nation) bank, shall file the following with the commissioner:...
• California Financial Code Section 4879.10
  (a) In case the purchaser is either, and the seller is not either, a California state depository corporation or California state-licensed foreign (other nation) bank,...
• California Financial Code Section 4879.11
  After an application for approval of a sale has been approved by the commissioner and all conditions precedent to the sale have been fulfilled, the...
• California Financial Code Section 4879.12
  When a sale becomes effective, in case the purchaser is a California state depository corporation or California state-licensed foreign (other nation) bank: (a) Unless the...
• California Financial Code Section 4879.13
  In case a seller is a California state commercial bank and sells all of its trust business in a sale: (a) As of the time...
• California Financial Code Section 4879.14
  When a sale becomes effective: (a) The purchaser shall succeed, without other transfer, to all rights and property of the seller which are sold to...
• California Financial Code Section 4879.15
  No action on account of any debt or liability assumed by a purchaser in a sale may be commenced against the seller more than one...
• California Financial Code Section 4879.16
  Promptly after a sale becomes effective, the seller shall: (a) Surrender to its regulator for cancellation the certificates of authority or licenses issued to it...
• California Financial Code Section 4879.17
  (a) After a sale becomes effective, the commissioner shall issue, upon application, a certificate under his or her official seal, stating that the seller sold...
• California Financial Code Section 4880
  In this article, unless the context otherwise requires: (a) "Agreement of merger" includes a certificate of ownership executed pursuant to Section 1110 of the Corporations...
• California Financial Code Section 4881
  (a) With the approval of the commissioner, a bank may merge into a California state bank pursuant to (1) this article, (2) in case the...
• California Financial Code Section 4882
  In obtaining any approval of outstanding shares required for a merger, the surviving depository corporation and, in case the surviving depository corporation is to issue...
• California Financial Code Section 4883
  The provisions of Chapter 13 (commencing with Section 1300) of Division 1 of Title 1 of the Corporations Code shall not apply to the shareholders...
• California Financial Code Section 4884
  A surviving depository corporation shall file with the commissioner an application for approval of the merger.
• California Financial Code Section 4885
  If the commissioner finds all of the following with respect to an application for approval of a merger, the commissioner shall approve the application: (a)...
• California Financial Code Section 4887
  (a) After an application for approval of a merger has been approved and all conditions precedent to the merger have been fulfilled, the commissioner shall...
• California Financial Code Section 4888
  When a merger becomes effective: (a) Unless the surviving depository corporation provided otherwise in the application for approval of the merger or unless the commissioner...
• California Financial Code Section 4889
  (a) When a merger becomes effective: (1) Any reference to the disappearing depository corporation in any writing, whether executed or taking effect before or after...
• California Financial Code Section 4890
  Promptly after a merger becomes effective: (a) The surviving depository corporation shall: (1) Surrender to the regulator of the disappearing depository corporation for cancellation the...
• California Financial Code Section 4891
  (a) After a merger becomes effective, the commissioner shall, upon application, issue a certificate under his or her official seal, stating that the disappearing depository...
• California Financial Code Section 4879.12
  When a sale becomes effective, in case the purchaser is a California state depository corporation or California state-licensed foreign (other nation) bank: (a) Unless the...
• California Financial Code Section 4879.13
  In case a seller is a California state commercial bank and sells all of its trust business in a sale: (a) As of the time...
• California Financial Code Section 4879.14
  When a sale becomes effective: (a) The purchaser shall succeed, without other transfer, to all rights and property of the seller which are sold to...
• California Financial Code Section 4879.15
  No action on account of any debt or liability assumed by a purchaser in a sale may be commenced against the seller more than one...
• California Financial Code Section 4879.16
  Promptly after a sale becomes effective, the seller shall: (a) Surrender to its regulator for cancellation the certificates of authority or licenses issued to it...
• California Financial Code Section 4879.17
  (a) After a sale becomes effective, the commissioner shall issue, upon application, a certificate under his or her official seal, stating that the seller sold...
• California Financial Code Section 4895.01
  In this article, unless the context otherwise requires, "merger" means any of the mergers described in Section 4895.02.
• California Financial Code Section 4895.02
  With the approval of the commissioner: (a) A California depository corporation may merge into a California state-licensed foreign (other nation) bank pursuant to (1) this...
• California Financial Code Section 4895.03
  In case the disappearing depository corporation is a California state depository corporation, a merger is subject to the provisions of Section 1108 of the Corporations
• California Financial Code Section 4895.04
  (a) In case the disappearing depository corporation is a California state depository corporation, a merger has the same effect as provided in Section 1107 of...
• California Financial Code Section 4895.05
  (a) A merger shall not become effective unless it has been approved by the commissioner. (b) After an application for approval of a merger has...
• California Financial Code Section 4895.06
  A merger is subject to the provisions of Sections 4884 to 4885, inclusive, and 4888 to 4891, inclusive, as if the merger were a merger...
• California Financial Code Section 4900
  In this article, unless the context otherwise requires, "merger" means any of the mergers described in Section 4901.
• California Financial Code Section 4901
  (a) A California state bank may merge into a national banking association, a California federally licensed foreign (other nation) bank, or an insured foreign (other...
• California Financial Code Section 4901.5
  (a) No provision of Division 1 (commencing with Section 99), except the provisions of Chapter 22 (commencing with Section 3800) of Division 1, prohibits or...
• California Financial Code Section 4902
  A merger is subject to the provisions of Section 1108 of the Corporations Code.
• California Financial Code Section 4903
  A merger shall have the same effect as provided in Section 1107 of the Corporations Code and as provided in Section 4889 in the case...
• California Financial Code Section 4904
  Promptly after a merger becomes effective, the surviving depository corporation shall: (1) Surrender to the commissioner for cancellation the certificates of authority or licenses issued...
• California Financial Code Section 4905
  (a) After a merger becomes effective, the surviving depository corporation may issue an officer's certificate, stating that the disappearing depository corporation merged into the surviving...
• California Financial Code Section 4908.01
  In this article, unless the context otherwise requires, "merger" means any of the mergers described in Section 4908.02.
• California Financial Code Section 4908.02
  With the approval of the commissioner, a California state independent trust company may merge into an uninsured foreign (other state) state depository corporation pursuant to...
• California Financial Code Section 4908.03
  A merger is subject to the provisions of Section 1108 of the Corporations Code.
• California Financial Code Section 4908.04
  A disappearing or surviving depository corporation shall file an application for approval of a merger with the commissioner.
• California Financial Code Section 4908.05
  A merger shall not become effective unless it has been approved by the commissioner.
• California Financial Code Section 4908.06
  If the commissioner finds all of the following with respect to an application for approval of a merger, the commissioner shall approve the application: (a)...
• California Financial Code Section 4908.07
  After an application for approval of a merger has been approved and all conditions precedent to the merger have been fulfilled, the commissioner shall approve...
• California Financial Code Section 4908.08
  A merger shall have the same effect as provided in Section 1107 of the Corporations Code and Section 4889 in the case of a merger...
• California Financial Code Section 4908.09
  Promptly after a merger becomes effective, the surviving depository corporation shall: (a) Surrender to the commissioner for cancellation the certificates of authority or licenses issued...
• California Financial Code Section 4908.10
  (a) After a merger becomes effective, the surviving depository corporation may issue an officers' certificate, stating that the disappearing depository corporation merged into the surviving...
• California Financial Code Section 4920
  In this article, unless the context otherwise requires, "conversion" means any of the conversions described in Section 4921.
• California Financial Code Section 4921
  With the approval of the commissioner, a California state depository corporation of any class may convert into a California state depository corporation of another class...
• California Financial Code Section 4922
  (a) A converting depository corporation shall adopt, and shall file with the commissioner an application for approval of, such amendments to its articles as may...
• California Financial Code Section 4923
  In obtaining the approval of outstanding shares or shareholders required for any amendment to articles or bylaws called for in Section 4922, a converting depository...
• California Financial Code Section 4924
  A converting depository corporation shall file with the commissioner an application for approval of the conversion.
• California Financial Code Section 4925
  If the commissioner finds all of the following with respect to an application for approval of a conversion, the commissioner shall approve the application: (a)...
• California Financial Code Section 4927
  After an application for approval of a conversion has been approved and all conditions precedent to the conversion have been fulfilled, the commissioner shall approve...
• California Financial Code Section 4928
  When a conversion becomes effective, the commissioner shall: (a) (1) In case the resulting depository corporation is a California state bank, issue to the resulting...
• California Financial Code Section 4929
  Promptly after a conversion becomes effective, the resulting depository corporation shall: (a) Surrender to the commissioner for cancellation the certificates of authority or licenses issued...
• California Financial Code Section 4930
  (a) After a conversion becomes effective, the commissioner shall issue, upon application, a certificate under his or her official seal, stating that the converting depository...
• California Financial Code Section 4940
  In this article, unless the context otherwise requires, "conversion" means any of the conversions described in Section 4941.
• California Financial Code Section 4941
  With the approval of the commissioner: (a) A national banking association may convert into a California state bank pursuant to this article and federal law....
• California Financial Code Section 4942
  A converting depository corporation shall adopt a plan of conversion pursuant to the provisions of federal law.
• California Financial Code Section 4943
  In obtaining any approval of outstanding shares required for a plan of conversion, a converting depository corporation shall provide to its shareholders information as the...
• California Financial Code Section 4944
  A converting depository corporation shall file the following with the commissioner: (a) The plan of conversion. (b) An officer's certificate certifying that the plan of...
• California Financial Code Section 4945
  If the commissioner finds all of the factors set forth in Section 4925 with respect to an application for approval of a conversion, the commissioner...
• California Financial Code Section 4946
  After an application for approval of a conversion has been approved by the commissioner but before the conversion becomes effective, the converting depository corporation shall...
• California Financial Code Section 4948
  (a) After an application for approval of a conversion has been approved and all conditions precedent to the conversion have been fulfilled, the commissioner shall:...
• California Financial Code Section 4949
  When a conversion becomes effective, the commissioner shall issue to the resulting depository corporation certificates of authority, licenses, or other appropriate authorizations for the branch...
• California Financial Code Section 4950
  When a conversion becomes effective: (a) The converting depository corporation shall cease to exist. (b) The resulting depository corporation shall succeed, without other transfer, to...
• California Financial Code Section 4951
  Promptly after a conversion becomes effective, the resulting depository corporation shall: (a) Surrender to the regulator of the converting depository corporation for cancellation the certificates...
• California Financial Code Section 4952
  (a) After a conversion becomes effective, the commissioner shall issue, upon application, a certificate under his or her official seal, stating that the converting depository...
• California Financial Code Section 4960
  In this article, unless the context otherwise requires, "conversion" means any of the conversions described in Section 4961.
• California Financial Code Section 4961
  (a) A California state bank may convert into a national banking association pursuant to this article and federal law. (b) A California state depository corporation...
• California Financial Code Section 4961.5
  (a) No provision of Division 1 (commencing with Section 99), except the provisions of Chapter 22 (commencing with Section 3800) of Division 1, prohibits or...
• California Financial Code Section 4962
  (a) A converting depository corporation shall make a plan of conversion, stating: (1) That the converting depository corporation shall be converted into the resulting depository...
• California Financial Code Section 4963
  A conversion shall have the same effect as provided in Section 4950 in the case of a conversion of the type defined in Section 4940.
• California Financial Code Section 4964
  Promptly after a conversion becomes effective, the resulting depository corporation shall: (a) Surrender to the commissioner for cancellation the certificates of authority or licenses issued...
• California Financial Code Section 4965
  (a) After a conversion becomes effective, the resulting depository corporation may issue an officers' certificate, stating that the converting depository corporation converted into the resulting...
• California Financial Code Section 4966
  (a) Within 60 days after a conversion, the resulting depository corporation shall file with the Secretary of State an officers' certificate reciting the name of...
• California Financial Code Section 4970
  For purposes of this division: (a) "Annual percentage rate" means the annual percentage rate for the loan calculated according to the provisions of the federal...
• California Financial Code Section 4973
  The following are prohibited acts and limitations for covered loans: (a) (1) A covered loan shall not include a prepayment fee or penalty after the...
• California Financial Code Section 4974
  (a) Any compliance failure that was not willful or intentional and resulted from a bona fide error, that occurred notwithstanding the maintenance of procedures reasonably...
• California Financial Code Section 4975
  (a) (1) Any licensed person who violates any provision of Section 4973, 4979.6, or 4979.7 shall be deemed to have violated that person's licensing law....
• California Financial Code Section 4977
  (a) A licensing agency may, after appropriate notice and opportunity for hearing, by order levy administrative penalties against a person who violates any provision of...
• California Financial Code Section 4978
  (a) A person who fails to comply with the provisions of this division is civilly liable to the consumer in an amount equal to any...
• California Financial Code Section 4978.6
  A person who originates covered loans shall inform any employee, who originates covered loans on behalf of the person, of the administrative or civil penalties...
• California Financial Code Section 4979
  Upon request, a person who originates a covered loan shall provide the licensing agency or the consumer, at no cost, documentation regarding his or her...
• California Financial Code Section 4979.5
  (a) A person who provides brokerage services to a borrower in a covered loan transaction by soliciting lenders or otherwise negotiating a consumer loan secured...
• California Financial Code Section 4979.6
  A person who originates a covered loan shall not make a covered loan that finances points and fees in excess of one thousand dollars ($1,000)...
• California Financial Code Section 4979.7
  On or after July 1, 2002, a person who originates a consumer loan shall not finance, directly or indirectly, into a consumer loan or finance...
• California Financial Code Section 4979.8
  The provisions of this division shall not impose liability on an assignee that is a holder in due course. The provisions of this division shall...
• California Financial Code Section 4981
  Any financial institution doing business in this state, or any other person, that sells to the public at any retail branch office at which deposits...
• California Financial Code Section 4982
  Any violation of this division by a bank is a violation of Division 1 (commencing with Section 99); a violation by a savings association is...
• California Financial Code Section 4983
  Nothing in this division shall be construed or interpreted to mean that this division in any way gives a financial institution the authority to offer...
• California Financial Code Section 4990
  (a) Any person convicted of a felony violation of any of the provisions specified in subdivision (b) shall not serve in any capacity as a...
• California Financial Code Section 4991
  (a) In response to a request by another bank, savings association, credit union, or any other financial institution it is not unlawful for a bank,...
• California Financial Code Section 5000
  This division may be cited as the "Savings Association Law."
• California Financial Code Section 5100
  When used in this division, the words and phrases set forth in this article shall have the meanings given in this article unless the context...
• California Financial Code Section 5100.2
  For purposes of this division: (a) Any reference to regulations of the federal Office of Thrift Supervision or the Federal Deposit Insurance Corporation shall also...
• California Financial Code Section 5100.5
  "Affiliated person" of a savings association means the following: (a) A director, officer, or controlling person of the savings association. (b) A spouse of a...
• California Financial Code Section 5100.6
  "Affiliate" of a savings association, unless otherwise defined, includes any corporation, business trust, unincorporated association or other similar organization which meets the criteria of subdivision...
• California Financial Code Section 5100.7
  "Controlling person" of a savings association means any person or entity which (a) either directly or indirectly or acting in concert with one or more...
• California Financial Code Section 5100.8
  "Immediate family" of any natural person means any of the following (whether by the full or half blood or by adoption): (a) The person's spouse,...
• California Financial Code Section 5100.9
  "Institution-affiliated party" means any of the following: (a) Any director, officer, employee or controlling stockholder of, or agent for, a savings association. (b) Any person...
• California Financial Code Section 5101
  "Approved by the members," in the case of a mutual association, means approved by a majority of all votes cast at a duly held regular...
• California Financial Code Section 5102
  (a) "Association" or "savings association" means a mutual or stock savings association, savings and loan association or savings bank subject to the provisions of this...
• California Financial Code Section 5103
  "Certificate of authority" means: (a) A certificate of authority to transact the business of an association, which is issued by the commissioner pursuant to this...
• California Financial Code Section 5103.5
  "Commercial paper" means any note, draft, or bill of exchange which arises out of a current transaction or the proceeds of which have been or...
• California Financial Code Section 5104
  "Commissioner" means the Commissioner of Financial Institutions.
• California Financial Code Section 5105
  "Community" means a centralized area or locality in which a body of inhabitants is gathered in one group having common residential, social, or business interests....
• California Financial Code Section 5105.5
  "Consumer loan" means a loan for personal, family, or household purposes, and loans reasonably incident thereto, and may be made as either open-end or closed-end...
• California Financial Code Section 5105.8
  "Corporate debt security" means a marketable obligation, evidencing the indebtedness of any corporation in the form of a bond, note, or debenture, or both note...
• California Financial Code Section 5106
  "Department" means the Department of Financial Institutions.
• California Financial Code Section 5107
  "Financial institution" means a thrift institution, commercial bank, or trust company.
• California Financial Code Section 5108
  "Impaired condition" means a condition in which the assets of an association in the aggregate do not have a value, as determined in accordance with...
• California Financial Code Section 5109
  "Mutual association" means an association for which the articles of incorporation do not authorize the issuance of capital stock.
• California Financial Code Section 5110
  "Member" means a person holding a savings account of a mutual association. A joint and survivorship or other multiple owner constitutes a single membership.
• California Financial Code Section 5111
  "Mutual capital certificate" means a certificate evidencing an investment in a mutual association and issued pursuant to provisions of this division.
• California Financial Code Section 5112
  "Net worth certificate" means a certificate issued by an association in accordance with Section 13i of the Federal Deposit Insurance Act, as amended (12 U.S.C.,...
• California Financial Code Section 5113
  "Person" means any individual, domestic, or foreign corporation, entity, voting trust, business trust, partnership, limited liability company, association, syndicate, organized group of persons, or similar...
• California Financial Code Section 5114
  "Primarily residential property" means real estate on which there is located, or will be located pursuant to a real estate loan, any of the following:...
• California Financial Code Section 5114.5
  "Residential real estate" means any improved real property that is used or intended to be used as a residence and contains not more than four...
• California Financial Code Section 5115
  "Real estate loan" means a loan or other obligation secured by a lien on real estate, if: (a) The security property is real estate as...
• California Financial Code Section 5116
  "Savings account" means that part of the savings liability of an association that is credited to the holder of the account. A savings account may...
• California Financial Code Section 5117
  "Savings bank" means a savings bank organized under this division.
• California Financial Code Section 5117.5
  "Savings institution" means a financial institution as defined in Section 5102.
• California Financial Code Section 5118
  "Savings liability" means the aggregate amount of savings accounts of depositors, including interest credited to the accounts, less redemptions and withdrawals.
• California Financial Code Section 5119
  "Service corporation" means a corporation, other than a wholly owned subsidiary referred to in Section 7300 or a wholly owned subsidiary doing business as a...
• California Financial Code Section 5120
  "Statutory net worth" or "net worth" means the sum of the following: (a) Issued and outstanding capital stock. (b) Issued and outstanding capital certificates. (c)...
• California Financial Code Section 5121
  "Stock association" means an association for which the articles of incorporation authorize the issuance of capital stock.
• California Financial Code Section 5122
  "Stockholder" means the holder of one or more shares of any class of capital stock of a capital stock association which is organized and operating...
• California Financial Code Section 5123
  "Thrift institution" means an association, a cooperative bank, a homestead association, a building and loan association, a federal association, a federal savings bank, a state...
• California Financial Code Section 5124
  "Withdrawal value" means the amount credited to a savings account less lawful deductions, as shown by the records of the association.
• California Financial Code Section 5203
  (a) The name, rights, powers, privileges, and immunities of each association in existence on the effective date of this division shall be governed by the...
• California Financial Code Section 5204
  (a) Wherever it is stated in this division that an agreement or contract contrary to any of the division's provisions is void, the statement is...
• California Financial Code Section 5205
  Whenever the term " association" is used in any provision of law, such term shall be deemed to include savings banks organized under this division;...
• California Financial Code Section 5205.5
  (a) All references in this division to financial statements, balance sheets, income statements, and statements of changes in financial position of an association and all...
• California Financial Code Section 5206
  Whenever the terms "board of directors," "directors," or "director" are used in any provision of law, such terms shall mean, with respect to savings banks...
• California Financial Code Section 5207
  If any provision, clause, or phrase of this division or application to any person or circumstance is held invalid, its invalidity shall not affect other...
• California Financial Code Section 5208
  This division, being a comprehensive coverage of its subject matter, shall not be deemed to be impliedly repealed, in whole or in part, by subsequent...
• California Financial Code Section 5209
  Insofar as the provisions of this division are inconsistent with any other law in effect at the time the provisions of this division are enacted,...
• California Financial Code Section 5300
  Every person who willfully violates or willfully fails to comply with any of the provisions of this division is guilty of a public offense. Except...
• California Financial Code Section 5301
  (a) The commissioner may refer such evidence as is available concerning any violation of this division or of any regulation, order issued by the commissioner,...
• California Financial Code Section 5302
  (a) Whoever knowingly violates subdivision (a) or (b) of Section 6525.5 shall be punished by a fine of not more than one million dollars ($1,000,000)...
• California Financial Code Section 5303
  Any officer, director, employee, or agent of any association who (a) willfully makes or knowingly concurs in the making or publishing of a false or...
• California Financial Code Section 5304
  (a) It is unlawful for any person to corruptly give, offer, or promise anything of value to any other person, with intent to influence or...
• California Financial Code Section 5305
  Any institution-affiliated party who abstracts or willfully misapplies any of the money, funds, or property of the savings association, or willfully misapplies its credit, is...
• California Financial Code Section 5306
  Any institution-affiliated party who knowingly executes, or attempts to execute, a scheme or artifice to defraud a savings association or to obtain any of the...
• California Financial Code Section 5307
  Whoever willfully and knowingly makes, issues, circulates, transmits, or causes or knowingly permits to be made, issued, circulated, or transmitted, any statement or rumor which...
• California Financial Code Section 5308
  Whoever knowingly makes or causes to be made, directly or indirectly, or through any agency whatsoever, any false statement or report, or willfully overvalues any...
• California Financial Code Section 5309
  (a) A person shall be sentenced to consecutive terms for each violation of Section 5303, 5304, 5305, or 5306 up to a mandatory term of...
• California Financial Code Section 5310
  (a) Any person violating or conspiring to violate Sections 5303, 5304, 5305, or 5306 shall be subject to a civil penalty in an amount assessed...
• California Financial Code Section 5311
  (a) Any fine or civil penalty imposed under this chapter shall be based upon the ability of the defendant to pay. In setting the amount...
• California Financial Code Section 5320
  If a person is convicted of a violation of Section 5303, 5304, 5305, or 5306, or is convicted of a felony for a violation of...
• California Financial Code Section 5321
  (a) The prosecuting agency shall, prior to, in conjunction with, or subsequent to the criminal proceeding, file a petition of forfeiture with the superior court...
• California Financial Code Section 5322
  (a) Any person claiming an interest in the property may, at any time within 30 days from the date of the first publication of the...
• California Financial Code Section 5323
  (a) Concurrent with, or subsequent to, the filing of the petition, the prosecuting agency may move the superior court for the following pendente lite orders...
• California Financial Code Section 5324
  (a) If the trier of fact at the forfeiture hearing finds that the alleged property or proceeds is forfeitable pursuant to Section 5320, the court...
• California Financial Code Section 5325
  Notwithstanding that no response or claim has been filed pursuant to Section 5322, in all cases where property is forfeited pursuant to this article and,...
• California Financial Code Section 5330
  The commissioner may impose civil penalties on any savings association, and any institution-affiliated party as follows: (a) Except as provided in subdivision (b) or in...
• California Financial Code Section 5400
  (a) No funds from proposed stockholders, members, or organizers of any proposed association may be collected until a verified application for an organizing permit has...
• California Financial Code Section 5401
  The application for an organizing permit shall be in writing and shall be filed in the office of the commissioner. The application shall be executed...
• California Financial Code Section 5402
  (a) The commissioner may impose conditions in an organizing permit concerning the deposit in escrow of funds collected pursuant to the permit, the manner of...
• California Financial Code Section 5403
  (a) Before filing an application for an organizing permit with the commissioner under Section 5400, an organizer shall file with the Secretary of State an...
• California Financial Code Section 5500
  Within 60 days after issuance of an organizing permit under Article 1 (commencing with Section 5400) any person may request authority to form a capital...
• California Financial Code Section 5501
  Upon receipt of a petition for a certificate of authority, the commissioner shall give written notice to each association that a petition for the issuance...
• California Financial Code Section 5501.5
  The articles of incorporation of each domestic association incorporated after January 1, 1984, shall include a statement that it is formed for each of the...
• California Financial Code Section 5502
  The commissioner shall not approve any petition for certificate of authority unless it is found from the data furnished with the petition, the evidence adduced...
• California Financial Code Section 5503
  (a) The commissioner shall, within a reasonable time after the petition is filed, or within a reasonable time after the hearing, if one is held,...
• California Financial Code Section 5504
  Upon issuance of a certificate of approval of articles of incorporation to a proposed association, the commissioner shall attach the original signed copy of the...
• California Financial Code Section 5505
  The articles of incorporation of a proposed association shall not be filed in the office of the Secretary of State unless a certificate of approval...
• California Financial Code Section 5506
  Within 30 days after the corporate existence of an association begins, the directors of the association shall hold an organization meeting and shall elect officers...
• California Financial Code Section 5600
  (a) The board of directors of an association which is in the process of organization shall select a financial institution within this state as a...
• California Financial Code Section 5601
  Before a certificate of authority is issued, the capital of the association shall be paid into the association and, in the case of stock, shall...
• California Financial Code Section 5602
  In addition to the minimum capital required, the commissioner may require that the consideration for the issuance of capital stock shall be sufficient to create...
• California Financial Code Section 5603
  In the case of a stock association, prior to issuance of a certificate of authority, the association shall file with the commissioner a statement in...
• California Financial Code Section 5604
  (a) In the case of a stock association, on or after the date the commissioner issues the association a certificate of authority, the association shall...
• California Financial Code Section 5605
  (a) Any association that does not commence business within one year after the date of the issuance of its certificate of approval of articles of...
• California Financial Code Section 5606
  (a) Prior to doing business in this state, an association shall obtain and maintain insurance of its savings accounts by the Federal Deposit Insurance Corporation....
• California Financial Code Section 5612
  For the purposes of this article, "security" means any stock, subordinated debenture, warrant, or right or option to purchase any stock issued by an association.
• California Financial Code Section 5613
  (a) No association shall sell, except upon a sale for a delinquent assessment made in accordance with the provisions of the General Corporation Law, or...
• California Financial Code Section 5614
  (a) Except as provided in subdivision (b), no issued and outstanding stock of an association shall be sold or offered for sale to the public,...
• California Financial Code Section 5615
  An application for a permit to sell securities shall be in writing, verified as provided in the Code of Civil Procedure for the verification of...
• California Financial Code Section 5616
  Upon the filing of the application for a permit to sell securities, the commissioner shall examine the application and other papers and documents filed therewith,...
• California Financial Code Section 5617
  Every permit to sell securities shall recite in bold type that the issuance thereof is permissive only and does not constitute a recommendation or endorsement...
• California Financial Code Section 5618
  The commissioner may amend, alter, or revoke any permit issued by the commissioner, or temporarily suspend the rights of the association under such permit.
• California Financial Code Section 5620
  (a) A stock association may issue shares of common stock and preferred stock, with or without par value, and common and preferred stock may be...
• California Financial Code Section 5621
  (a) With the approval of the commissioner, a mutual association may amend its articles of incorporation to authorize the issuance of stock and may issue...
• California Financial Code Section 5622
  Capital stock of a stock association shall be issued pursuant to the following requirements: (a) Except for stock issued pursuant to a stock dividend, stock...
• California Financial Code Section 5623
  A mutual association may issue mutual capital certificates in accordance with regulations of the commissioner.
• California Financial Code Section 5624
  An association may issue net worth certificates in accordance with applicable regulations of the Office of Thrift Supervision or the Federal Deposit Insurance Corporation.
• California Financial Code Section 5650
  Notwithstanding the provisions of subdivision (a) of Section 201 of the Corporations Code and Division 1 of the Financial Code, the name of every association...
• California Financial Code Section 5651
  (a) No certificate of approval of articles of incorporation of a proposed association having the same name as an association in existence in this state...
• California Financial Code Section 5652
  Except as otherwise authorized under existing law, no person, unless lawfully authorized to do business in this state under the provisions of this division and...
• California Financial Code Section 5653
  Upon application by the commissioner or any association, a court of competent jurisdiction may issue an injunction to restrain any person from violating or continuing...
• California Financial Code Section 5654
  (a) Without the prior approval of the commissioner, as provided in this division, no association shall do any of the following: (1) Establish or maintain...
• California Financial Code Section 5655
  No association shall advertise or hold itself out to the public as a bank. This subdivision shall not be construed to prohibit an association which...
• California Financial Code Section 5700
  A state association may convert itself into a federal association by following the procedure outlined in Sections 5701 through 5708.
• California Financial Code Section 5701
  At any regular or special meeting called to consider the conversion of an association into a federal association, in the case of a stock association,...
• California Financial Code Section 5702
  Any executor, administrator, guardian, conservator of a natural person or receiver, and any fiduciary or trustee, and any public corporation, political subdivision, public instrumentality, charitable...
• California Financial Code Section 5703
  Promptly after the meeting approving a conversion into a federal association, the association shall file in the office of the commissioner a certificate verified by...
• California Financial Code Section 5704
  A certified copy of the certificate required by Section 5703 filed in the office of the Secretary of State is presumptive evidence of the holding...
• California Financial Code Section 5705
  After the meeting of the stockholders and members, the association shall take any action necessary to make it a federal association, and promptly after receipt...
• California Financial Code Section 5706
  At the time the conversion into a federal association becomes effective the association ceases to be supervised by this state and all of the property...
• California Financial Code Section 5707
  The converted federal association shall have, hold, and enjoy the property mentioned in Section 5706 in its own right as fully and to the same...
• California Financial Code Section 5708
  Where a copy of a charter of a federal association, issued by the Federal Home Loan Bank Board pursuant to the laws of the United...
• California Financial Code Section 5709
  Any federal association may convert itself into an association by following the procedure set forth in Sections 5710 through 5718.
• California Financial Code Section 5710
  At any regular or special meeting called to consider the action, the stockholders and members entitled to vote by an affirmative majority of the votes...
• California Financial Code Section 5711
  Copies of the minutes of the proceedings of the meeting of the stockholders or members in which they vote to convert into an association, verified...
• California Financial Code Section 5712
  The verified copies of the minutes of the meeting, when filed as required by Section 5711, are presumptive evidence of the holding and action of...
• California Financial Code Section 5713
  After a meeting as provided for in Section 5710, the federal association shall take or cause to be taken such action as shall make it...
• California Financial Code Section 5714
  The directors of an association converted from a federal association may insert in the articles of incorporation the following statement: "This association is incorporated by...
• California Financial Code Section 5715
  Promptly after the filing of the articles of incorporation with the Secretary of State, there shall be filed with the federal home loan bank of...
• California Financial Code Section 5716
  Upon the filing of the articles of incorporation with the Secretary of State, the federal association ceases to be a federal association and is an...
• California Financial Code Section 5717
  The converted association shall have, hold, and enjoy the property mentioned in Section 5716 in its own right as fully and to the same extent...
• California Financial Code Section 5718
  In the event stock is to be issued by the converted association, the commissioner may issue an organizing permit to the federal association or to...
• California Financial Code Section 5750
  (a) Pursuant to a plan or agreement (referred to as "agreement" in this article) adopted by the board of directors and approved by the commissioner...
• California Financial Code Section 5751
  At the sole discretion of the commissioner a public hearing may be held on applications filed under this article, in accordance with procedures established by...
• California Financial Code Section 5752
  Applications filed under this article shall be accompanied by any applicable filing fee prescribed by the commissioner pursuant to Section 9001.
• California Financial Code Section 5753
  The provisions of Chapter 13 (commencing with Section 1300) of Division 1 of Title 1 of the Corporations Code shall apply only to stockholders and...
• California Financial Code Section 5754
  In a merger the agreement shall state any matters with respect to which the articles of the surviving association are deemed amended and the articles...
• California Financial Code Section 5755
  When a merger or consolidation agreement has been approved by the directors and the stockholders or members of an association, the association shall mail notice...
• California Financial Code Section 5756
  Any amendment to a merger or consolidation agreement may be adopted, and the agreement so amended may be approved at the meeting of the stockholders...
• California Financial Code Section 5757
  Notwithstanding any other provision of law, the approval of transactions under this article shall not be required by any borrowers or by holders of savings...
• California Financial Code Section 5758
  The executed agreement, or an executed counterpart of it and the respective certificate of each constituent association or any other corporation and of the surviving...
• California Financial Code Section 5759
  An association may acquire all or at least 90 percent of the issued and outstanding stock of another association, or any other corporation, with the...
• California Financial Code Section 5760
  (a) Any association, owning all the outstanding stock of any corporation, may merge its wholly owned subsidiary corporation if the laws under which the subsidiary...
• California Financial Code Section 5761
  The directors of an association may, in their discretion, abandon a transaction under this article, subject to the rights of third parties under any contracts...
• California Financial Code Section 5762
  The commissioner may adopt rules and regulations relating to any transaction regulated by this article.
• California Financial Code Section 5800
  For the purposes of this article the following words and phrases shall have the following meanings: (a) "Savings and loan holding company" means any person...
• California Financial Code Section 5801
  (a) Except as provided in subdivision (b), no person may become a savings and loan holding company, or thereafter register under Section 5804, unless the...
• California Financial Code Section 5802
  The commissioner shall within 60 days after the date of filing of a completed application, unless good cause is shown why a decision to approve...
• California Financial Code Section 5803
  (a) After the decision under this article by the commissioner either approving or denying the application, upon the filing with the commissioner within 30 days...
• California Financial Code Section 5804
  (a) Within 60 days following approval, or a later date if extended by the commissioner, each savings and loan holding company shall register with the...
• California Financial Code Section 5806
  Each savings and loan holding company, which is not an individual, shall pay an initial and an annual registration fee of five hundred dollars ($500)...
• California Financial Code Section 5807
  When a savings and loan holding company has satisfied the requirements of this article, the commissioner shall issue the holding company a certificate of registration,...
• California Financial Code Section 5808
  No association that is a subsidiary in this state of any savings and loan holding company that does not have in effect a certificate of...
• California Financial Code Section 5809
  (a) The commissioner from time to time may require reports from any savings and loan holding company and its subsidiaries in a format deemed necessary...
• California Financial Code Section 5810
  The commissioner shall have the enforcement powers with respect to savings and loan holding companies and their subsidiaries that are provided with respect to associations...
• California Financial Code Section 5811
  This article shall not apply to an acquisition of stock made pursuant to a plan or agreement of reorganization, merger, consolidation, or transfer of assets...
• California Financial Code Section 5850
  (a) An association may dissolve pursuant to the General Corporation Law (Division 1 (commencing with Section 100) of Title 1 of the Corporations Code). (b)...
• California Financial Code Section 5860
  Notwithstanding any other provision of law, but subject to prior approval of the commissioner, any mutual association may reorganize so as to become a mutual...
• California Financial Code Section 5861
  Upon transfer of assets and assumption of liabilities pursuant to Section 5860, persons who prior thereto held savings accounts with, or other rights as creditors...
• California Financial Code Section 5862
  A reorganization of a mutual association pursuant to this article shall be approved by the board of directors and by the members of the mutual
• California Financial Code Section 5863
  An application to the commissioner for approval of a reorganization under this article shall contain such relevant information as the commissioner may require. The commissioner...
• California Financial Code Section 5864
  In connection with reorganization pursuant to the provisions of this article, a mutual association may, subject to the approval of the commissioner, retain capital assets...
• California Financial Code Section 5865
  A mutual holding company shall be deemed to be a savings association continuing its organization under this division and may engage only in activities authorized...
• California Financial Code Section 5866
  Sections 5801, 5802, and 5803 shall not apply to a reorganization pursuant to this article.
• California Financial Code Section 5867
  Notwithstanding any other provision of law, a reorganized stock association may exercise any and all powers, rights, and privileges of and be subject to all...
• California Financial Code Section 5868
  A reorganized stock association shall have the power to issue additional amounts of capital stock to the mutual holding company of which it is a...
• California Financial Code Section 6000
  An annual meeting of the members of each mutual association shall be held at a time and place fixed in the bylaws of the association.
• California Financial Code Section 6001
  Special meetings of the members of a mutual association may be called at any time by the president or the board of directors, and shall...
• California Financial Code Section 6002
  Notice of each annual and special meeting shall be either published once a week for the two successive calendar weeks (in each instance on any...
• California Financial Code Section 6003
  In the consideration of all questions requiring action by the members of a mutual association, each member shall be entitled to cast one vote for...
• California Financial Code Section 6004
  (a) In order that the association may determine the members entitled to notice of any meeting or to vote or entitled to receive any distribution...
• California Financial Code Section 6005
  At any meeting of the members, voting may be in person or by proxy, provided that no proxy is eligible to be voted at any...
• California Financial Code Section 6006
  Any number of members present at a regular or special meeting of the members shall constitute a quorum. A majority of all votes cast at...
• California Financial Code Section 6050
  (a) The register of stockholders or members, the books of account, and the minutes of an association shall be subject to inspection upon the written...
• California Financial Code Section 6051
  (a) If any member, members, stockholder or stockholders desire to communicate with other members or stockholders of an association about any question pending or to...
• California Financial Code Section 6052
  (a) No action may be instituted or maintained in the right of any association by any savings account holder who is not a stockholder or...
• California Financial Code Section 6053
  In the case of an association which converts from a mutual association to a stock association, for a period of up to five years from...
• California Financial Code Section 6100
  Each association shall prepare and publish annually within the time prescribed by the commissioner in a newspaper of general circulation in the county in which...
• California Financial Code Section 6150
  (a) The business of each association shall be directed by a board of directors elected by ballot by a plurality of the votes of the...
• California Financial Code Section 6151
  No person shall be eligible for election or shall serve as a director or officer of an association who has been convicted of a criminal...
• California Financial Code Section 6152
  (a) A director shall automatically cease to be a director upon being adjudicated as bankrupt or upon conviction of a criminal offense involving dishonesty or...
• California Financial Code Section 6153
  Directors shall be elected for periods of three years and until their successors are elected and qualified, but provision shall be made for the election...
• California Financial Code Section 6154
  If the members or stockholders fail to elect a director to fill each vacancy created by an increase in the number of directors, the current...
• California Financial Code Section 6155
  Whenever the number of directors is changed and vacancies caused by the change are filled, the directors so elected shall be elected to terms in...
• California Financial Code Section 6156
  (a) Any vacancy among directors, not filled by the members or stockholders, may be filled by a majority vote of the remaining directors, though less...
• California Financial Code Section 6157
  Every savings association subject to the new director or senior executive officer notice requirements of Section 32 of the Federal Deposit Insurance Act (12 U.S.C....
• California Financial Code Section 6200
  Except as provided in subdivision (b) of Section 6203, all directors, officers, and employees of an association shall, before entering upon the performance of any...
• California Financial Code Section 6201
  Associations that employ collection agents, who for any reason are not covered by a bond required under Section 6200, shall provide for the bonding of...
• California Financial Code Section 6202
  No indemnity bond coverage is required of any agent that is a financial institution insured by the Federal Deposit Insurance Corporation.
• California Financial Code Section 6203
  (a) The amounts and form of indemnity bonds and sufficiency of the surety shall be approved by the board of directors and by the commissioner....
• California Financial Code Section 6204
  Indemnity bonds shall provide that their cancellation either by the surety or by the insured shall not become effective unless and until 10 days' notice...
• California Financial Code Section 6450
  Each association shall keep correct and complete books and records of accounts, as specified in Section 1500 of the Corporations Code.
• California Financial Code Section 6451
  (a) Except as provided in subdivision (b), each agency of an association, as defined in Section 6551, shall keep an original record of each transaction...
• California Financial Code Section 6452
  Each association shall observe generally accepted accounting principles and practices except to the extent that the commissioner may require or permit different accounting treatment of...
• California Financial Code Section 6453
  Each association shall close its books at the close of business at least annually, or more often if authorized or required in writing by the
• California Financial Code Section 6454
  No association by any system of accounting or any device of bookkeeping shall, either directly or indirectly, enter any of its assets upon its books...
• California Financial Code Section 6455
  (a) Each association shall maintain complete loan and investment records, and shall do so in a manner satisfactory to the commissioner. Detailed records necessary to...
• California Financial Code Section 6456
  Each mutual association shall maintain membership records which shall show the name and address of the member and the date of membership.
• California Financial Code Section 6457
  Each capital stock association shall maintain a register of stockholders.
• California Financial Code Section 6458
  (a) Any association may cause any or all records of the association to be copied or reproduced by any photostatic, photographic, or microfilming process that...
• California Financial Code Section 6475
  (a) Each association shall maintain an adequate statutory net worth appropriate for the conduct of its business and the protection of its savings account holders....
• California Financial Code Section 6476
  Each association shall set up and maintain the reserves required by, and may set up and maintain any additional reserves that are permitted by, this...
• California Financial Code Section 6477
  Any association which, for the purpose of evading provisions of this division or any order of the commissioner, knowingly participates, directly or indirectly, in an...
• California Financial Code Section 6500
  (a) Each association incorporated pursuant to or operating under the provisions of this division shall have all the powers enumerated, authorized, and permitted by this...
• California Financial Code Section 6501
  An association may have perpetual existence, adopt and use a corporate seal which may be affixed by imprint, facsimile, or otherwise, and adopt and amend...
• California Financial Code Section 6502
  An association may sue, be sued, complain, and defend in any court.
• California Financial Code Section 6502.5
  An association may, acquire, hold, sell, develop, subdivide, dispose of, and convey real and personal property consistent with its objects and powers. It may mortgage,...
• California Financial Code Section 6503
  (a) No association or subsidiary thereof, without the prior written consent of the commissioner, shall enter into either of the following: (1) Any transaction or...
• California Financial Code Section 6504
  (a) Except by the prior written consent of the commissioner, an association in organization that is not a member of a federal home loan bank...
• California Financial Code Section 6505
  (a) An association may issue and sell, directly or through underwriters, capital certificates that represent nonwithdrawable capital contributions, and constitute part of the reserves and...
• California Financial Code Section 6507
  An association may qualify as and become a member of a federal home loan bank and a home loan bank established as an agency or...
• California Financial Code Section 6508
  An association may become a member of, deal with, maintain reserves or deposits with, or make reasonable payments or contributions to any organization or instrumentality...
• California Financial Code Section 6509
  An association may act as depository for receipt of payments of federal or state taxes and loan funds, and may satisfy any related federal or...
• California Financial Code Section 6510
  An association may sell any loan, including a participating interest in a loan, at any time.
• California Financial Code Section 6511
  Loans secured by real property may be sold to, and are legal investments for, among others, any public or private pension fund, credit union, labor...
• California Financial Code Section 6513
  An association may service loans and investments for others.
• California Financial Code Section 6514
  (a) An association may act, and receive compensation for so acting, as trustee of any trust created or organized in the United States and forming...
• California Financial Code Section 6515
  (a) Notwithstanding any provisions of Division 1 (commencing with Section 99), Section 202 of the Corporations Code, or any other provisions of law relating to...
• California Financial Code Section 6516
  (a) Subject to regulations issued by the commissioner, an association may own and use or participate in the use or ownership and use of remote...
• California Financial Code Section 6517
  Subject to Regulation E (12 CFR Part 205) and to rules and regulations of the commissioner, an association may transfer funds between holders of savings...
• California Financial Code Section 6518
  (a) An association may maintain and rent safes, boxes, or other receptacles or premises for the safekeeping of personal property upon terms and conditions that...
• California Financial Code Section 6519
  An association may sell money orders, travel checks, and similar instruments drawn by it on its bank accounts or as agent for any organization empowered...
• California Financial Code Section 6520
  An association, service corporation, or a person authorized in writing by an association may act as an agent for others except that an association may...
• California Financial Code Section 6521
  (a) Notwithstanding the provisions of Division 6 (commencing with Section 17000) or any other provision of law, an association or service corporation may act as...
• California Financial Code Section 6522
  (a) An association that declares and pays dividends may distribute its own shares or may make payments in cash or property. Payment of cash or...
• California Financial Code Section 6523
  (a) An association may use advertising, whether printed, broadcasted by radio, televised, displayed, or communicated in any other manner or make any representation that is...
• California Financial Code Section 6524
  An association may organize, sponsor, operate, control, or render investment advice to, an investment company, or underwrite, distribute, or sell securities of any investment company...
• California Financial Code Section 6525
  (a) Notwithstanding the provisions of Sections 1051, 1052, and 1054 of the Labor Code and Section 2947 of the Penal Code, an association, a subsidiary...
• California Financial Code Section 6525.5
  Except with the prior written consent of the commissioner: (a) No person who has been convicted of any criminal offense involving dishonesty or breach of...
• California Financial Code Section 6526
  An association may issue commercial and standby letters of credit in conformance with the Uniform Commercial Code or the Uniform Customs and Practice for Documentary...
• California Financial Code Section 6527
  If a loan or other investment is authorized under more than one section of this division an association may designate under which section the loan...
• California Financial Code Section 6528
  An association may provide correspondent services primarily to other depository institutions to the extent that the activity does not violate other provisions of law. (a)...
• California Financial Code Section 6529
  (a) No affiliated person of a savings association may receive, either directly or indirectly, from the association, a subsidiary thereof, or any other source any...
• California Financial Code Section 6530
  (a) No savings association may discharge or otherwise discriminate against any employee with respect to compensation, terms, conditions, or privileges of employment because the employee...
• California Financial Code Section 6550
  (a) A branch office is a legally established place of business of an association other than the home office, a remote service unit, or any...
• California Financial Code Section 6551
  (a) An agency of an association is a place or facility, stationary or mobile, other than the home office, a remote service unit, or a...
• California Financial Code Section 6552
  No association may establish or maintain a branch office or agency without the prior written approval of the commissioner, except that temporary and incidental agencies...
• California Financial Code Section 6553
  (a) Each application for approval of the establishment and maintenance of a branch office or one or more agencies shall include the following: (1) The...
• California Financial Code Section 6554
  Upon receipt of a complete application for a branch office, the commissioner shall give written notice of the filing of the application to each association....
• California Financial Code Section 6555
  (a) Before acting on an application for a branch office, the commissioner may hold a hearing at a time and place specified in a notice...
• California Financial Code Section 6556
  (a) Upon review of the application for a branch office or agency and after a hearing on the branch application, if one is deemed necessary,...
• California Financial Code Section 6557
  The provisions of this article relating to branch office and agency applications do not apply to a branch office or agency of an existing association...
• California Financial Code Section 6558
  The commissioner may adopt rules and regulations relating to any action pertaining to branch offices and agencies regulated by this article.
• California Financial Code Section 6600
  The savings liability of an association shall consist only of the aggregate amount of its savings accounts, plus interest earned or credited to the accounts,...
• California Financial Code Section 6601
  Except as limited by the association from time to time or by state or federal law or regulations, account holders may make additions to their...
• California Financial Code Section 6602
  Savings accounts may be opened for cash or, subject to any limitations or restrictions in regulations issued by the commissioner, for property in which the...
• California Financial Code Section 6603
  No member of a mutual association is responsible for any losses of the association, no savings account is subject to assessment, and no savings account...
• California Financial Code Section 6651
  Except for savings accounts issued in marketable or bearer form, savings accounts shall be represented only by the account of each savings account holder on...
• California Financial Code Section 6652
  (a) Upon the filing with an association by the savings account holder of record as shown by the books of the association, or by the...
• California Financial Code Section 6653
  (a) No association shall, directly or indirectly, for the opening or increasing of any savings account, give, sell, dispose of, or permit the giving, selling,...
• California Financial Code Section 6653.5
  (a) A troubled savings association may not accept funds obtained, directly or indirectly, by or through any deposit broker for deposit into one or more...
• California Financial Code Section 6660
  (a) For the purposes of this section: (1) "Account" means withdrawable or repurchasable shares, investment certificates, deposits, or savings accounts as defined in Section 561.2,...
• California Financial Code Section 6661
  Notice to an association or federal association of an adverse claim to a savings account of, or to personal property held for the account of,...
• California Financial Code Section 6662
  Nothing in this chapter shall prohibit an association or federal association from issuing tenancy in common, community property, and other types of savings accounts authorized...
• California Financial Code Section 6663
  If any attachment is levied upon any savings account or any other property maintained with an association or federal association, a copy of the writ...
• California Financial Code Section 6700
  An association may contract with the proper authorities of any public or nonpublic elementary or secondary school or institution of higher learning, or any public...
• California Financial Code Section 6701
  An association may contract with any employer, as follows: (a) With respect to the solicitation, collection, and receipt of savings by payroll deduction to be...
• California Financial Code Section 6702
  An association may pay commissions or fees in cash or merchandise for soliciting deposits to any employee of the association or to any broker or...
• California Financial Code Section 6725
  (a) Notwithstanding any other provision of law, an association or federal association may continue to recognize the authority of an attorney-in-fact authorized in writing to...
• California Financial Code Section 6750
  Except as otherwise expressly provided in this article, an association or federal association may issue savings accounts to any married person or minor as the...
• California Financial Code Section 6751
  Any payment or delivery of rights to a married person, to any minor, or to a trust established by or for a married person, or...
• California Financial Code Section 6752
  (a) In the case of a minor, the receipt, acquittance, pledge, or other action required by the association or federal association to be taken by...
• California Financial Code Section 6800
  An account in an association or federal association that is a multiple-party account as defined in Section 5132 of the Probate Code is governed by...
• California Financial Code Section 6804
  No association or federal association paying any survivor in accordance with Part 2 (commencing with Section 5100) of Division 5 of the Probate Code shall,...
• California Financial Code Section 6805
  The pledge or hypothecation to any association or federal association of all or part of a multiple party account, as defined in Section 5132 of...
• California Financial Code Section 6850
  Any association may accept fiduciary savings accounts in the name of any administrator, executor, custodian, conservator, guardian, trustee, or other fiduciary for a named beneficiary...
• California Financial Code Section 6851
  (a) The withdrawal value of a fiduciary account, and interest on it, or other rights relating to it, may be paid or delivered, in whole...
• California Financial Code Section 6852
  (a) Whenever a person holding an account in a fiduciary capacity dies and no written notice of the revocation or termination of the fiduciary relationship...
• California Financial Code Section 6855
  No association paying any fiduciary, beneficiary, or designated person in accordance with this article or the California Multiple-Party Accounts Law contained in Part 2 (commencing...
• California Financial Code Section 6856
  The provisions of this article apply to federal associations to the extent that they are not inconsistent with and do not infringe upon federal laws...
• California Financial Code Section 6900
  If an association or federal association has received no written notice and is not on actual notice that the savings account holder has been adjudicated...
• California Financial Code Section 6950
  (a) When a savings account is held in any association or federal association by a person who dies while domiciled in a sister state or...
• California Financial Code Section 6951
  No action at law or in equity shall be maintained against an association or federal association for payment made in accordance with this article.
• California Financial Code Section 7000
  (a) Administrators, executors, custodians, conservators, guardians, trustees, and other fiduciaries, insurance companies, business and manufacturing companies, banks, trust companies, credit unions, and other types of...
• California Financial Code Section 7001
  (a) Whenever, under the laws of this state or otherwise, a deposit of securities is required for any purpose, the savings accounts and accounts made...
• California Financial Code Section 7002
  The provisions of this article supplement any and all other laws relating to and declaring what shall be legal investments for the persons, fiduciaries, corporations,...
• California Financial Code Section 7050
  An association may issue savings accounts earning interest at different rates of return. The annual rate of return paid on a savings account may either...
• California Financial Code Section 7051
  An association may classify its savings accounts on any basis including, but not limited to, character, amount, or duration of the account, regularity of additions,...
• California Financial Code Section 7052
  Except for accounts that are classified according to a specified contractual time or notice period, interest shall be based on the withdrawal value of each...
• California Financial Code Section 7053
  (a) The date of investment in a savings account shall be the date of actual receipt by the association of the account or an addition...
• California Financial Code Section 7054
  The board of directors, by resolution, may determine any of the following: (a) That interest shall not be paid on designated types of savings accounts...
• California Financial Code Section 7055
  The directors shall determine the method of calculating the amount of any interest on any savings account classification as provided in this article and the...
• California Financial Code Section 7100
  (a) Notwithstanding any other provision of law, but subject to subdivision (b), an association may permit the owner of a deposit or account to make...
• California Financial Code Section 7150
  At any time funds are on hand for the purpose, an association shall have the right to redeem by lot or otherwise, as the board...
• California Financial Code Section 7151
  Except with the prior consent of the commissioner, no association shall redeem any of its savings accounts when the association is in an impaired condition...
• California Financial Code Section 7152
  The redemption price of savings accounts redeemed shall be the full value of the account redeemed, as determined by the board of directors, but in...
• California Financial Code Section 7153
  If the notice of redemption under Section 7150 has been given, and if on or before the redemption date the funds necessary for the redemption...
• California Financial Code Section 7154
  (a) All certificates of ownership evidencing former savings accounts that have been called for redemption must be tendered for payment within the time limit specified...
• California Financial Code Section 7200
  No association shall invest in any security under this chapter, other than in liquid assets, or in any loan at any time if the association...
• California Financial Code Section 7250
  Notwithstanding any other provision of law, an association may invest in the following securities without limit, and in addition may invest not in excess of...
• California Financial Code Section 7250.5
  No savings association may directly or indirectly acquire or retain any corporate debt security unless the corporate debt security is rated in one of the...
• California Financial Code Section 7251
  An association holding investments which have been approved by the commissioner shall not be required to dispose of them or to establish a reserve account...
• California Financial Code Section 7252
  (a) Notwithstanding any other provisions of this chapter, an association may, subject to regulations of the commissioner, invest in the capital stock, obligations, or other...
• California Financial Code Section 7260
  Stock of a Federal Reserve bank.
• California Financial Code Section 7261
  Bonds of the State of California and those for which the faith and credit of the State of California are pledged for the payment of...
• California Financial Code Section 7262
  Bonds of any flood control and water conservation districts, or any zone thereof, having an assessed valuation on taxable real property of not less than...
• California Financial Code Section 7263
  Bonds of any other political subdivision, public corporation, or district of the State of California (herein referred to generally as public corporations) having the power,...
• California Financial Code Section 7264
  Bonds or other evidences of indebtedness of, or which are unconditionally guaranteed by the State of Israel, the United States of Mexico, the Commonwealth of...
• California Financial Code Section 7265
  Bonds of any irrigation district, water, storage district, water conservation district, county water district, reclamation district, drainage district, and any district the primary function of...
• California Financial Code Section 7266
  Bonds, consolidated bonds, collateral trust debentures, consolidated debentures, or other obligations issued by federal land banks or federal intermediate credit banks established under the Federal...
• California Financial Code Section 7267
  Bonds, notes, or other obligations issued by the Federal Financing Bank, the United State Postal Service, or issued or assumed by the International Bank for...
• California Financial Code Section 7268
  (a) Notes with a maturity not exceeding 15 months after the date of issue, issued in anticipation of uncollected taxes, income, revenue, cash receipts, and...
• California Financial Code Section 7269
  In revenue securities of any state of the United States, or of the Commonwealth of Puerto Rico, and of any city, county, city and county,...
• California Financial Code Section 7270
  Bonds of any local public housing agency (as defined in the United States Housing Act of 1937, as amended) as are secured either, (a) by...
• California Financial Code Section 7271
  Bonds secured by an insurance commitment of the Federal Housing Administration.
• California Financial Code Section 7272
  Evidences of indebtedness of companies incorporated in the United States and, directly or indirectly, engaged in manufacturing, extraction, merchandising, or commercial financing and in bonds...
• California Financial Code Section 7273
  Fixed interest railroad bonds meeting the requirements of subdivisions (a) and (b), bonds secured by a mortgage on jointly operated railroad facilities meeting the requirements...
• California Financial Code Section 7274
  Bonds and debentures of gas, electric, or gas and electric companies meeting the requirements of subdivision (a), bonds and debentures of telephone companies meeting the...
• California Financial Code Section 7275
  As used in this article, "funded debt" means all interest-bearing indebtedness of a corporation not maturing within one year of the date it was incurred.
• California Financial Code Section 7300
  (a) Each association shall have power to invest in real property, tangible personal property and interests in real property for the conduct of the business...
• California Financial Code Section 7350
  (a) An association may acquire and hold stock of one or more corporations the primary activities of which are engaging in real property investment, in...
• California Financial Code Section 7450
  (a) An association may make any loan authorized by this division, but the association shall first determine that the type, amount, purpose, and repayment provisions...
• California Financial Code Section 7450.2
  Except with the prior written consent of the commissioner, no association shall knowingly make: (a) Any loan to any corporation of which 10 percent or...
• California Financial Code Section 7451
  Except as otherwise provided by the commissioner, an association shall not make or acquire total loans with respect to one borrower or on one project...
• California Financial Code Section 7452
  (a) An association may make consumer loans, provided that the total of such loans shall not exceed 30-percent of the assets of the association. (b)...
• California Financial Code Section 7453
  (a) An association may make, invest in, sell, purchase, participate in, or otherwise deal in secured or unsecured loans for agricultural, business, commercial, or corporate...
• California Financial Code Section 7454
  Each association is authorized to issue credit cards, extend credit in connection with the cards, and otherwise engage in or participate in credit card operations....
• California Financial Code Section 7455
  No association or director, officer, or employee of an association shall require, as a condition to the granting of any loan or the extension of...
• California Financial Code Section 7456
  Any loan commitment made by an association shall be counted as an investment and shall be included in total assets of the association only to...
• California Financial Code Section 7457
  An association may make loans on the security of its savings accounts, whether or not the borrower is the owner of the account, subject to...
• California Financial Code Section 7458
  An association may make overdraft loans specifically related to transaction accounts, subject to regulations issued by the commissioner.
• California Financial Code Section 7459
  In addition to establishing reserves pursuant to Section 6476, an association or federal association, as defined in Section 5102, may establish a separate loan reserve...
• California Financial Code Section 7460
  (a) Notwithstanding Section 726 of the Code of Civil Procedure or any other provision of law to the contrary, an association, a federal association, an...
• California Financial Code Section 7461
  The provisions of any deed of trust or mortgage on real property which authorize an association, federal association, affiliate or service corporation of an association...
• California Financial Code Section 7462
  The provisions of any deed of trust or mortgage on real property which authorize an association, federal association, affiliate or service corporation of an association...
• California Financial Code Section 7500
  (a) Subject to limitations, if any, within this chapter, an association may originate, invest in, sell, purchase, service, participate, or otherwise deal in (including brokerage...
• California Financial Code Section 7501
  Each real estate loan shall be evidenced by a note or instrument of obligation for the amount of the loan. The note or instrument shall...
• California Financial Code Section 7502
  (a) Each real estate loan shall be secured by a deed of trust, mortgage, or other transaction or instrument constituting a lien or claim, or...
• California Financial Code Section 7503
  Except as specified by the loan contract or by Section 2954.8 of the Civil Code, an association shall have no obligation to pay interest to...
• California Financial Code Section 7504
  Notwithstanding any other provision of law, an association may adjust the interest rate, payment, balance, or term-to-maturity on any loan secured by real property as...
• California Financial Code Section 7505
  (a) Notwithstanding any other provision of law, an association may originate, invest in, sell, purchase, service, participate, or otherwise deal in loans (including construction loans)...
• California Financial Code Section 7505.5
  (a) A savings association may make loans the principal purpose of which is to provide financing with respect to what is, or what is to...
• California Financial Code Section 7506
  Notwithstanding any other provision of the law, an association may make a loan secured by an assignment of a loan or loans to the extent...
• California Financial Code Section 7507
  (a) An association may make loans or advances of credit, or invest in interests therein, on the security of real property, which loans, advances of...
• California Financial Code Section 7509
  (a) (1) At the time of origination, a real estate loan may not exceed 100 percent of the market value of security property. An association...
• California Financial Code Section 7600
  In the case of any investment made by an association in a real estate loan, in the event all or part of the ownership of...
• California Financial Code Section 7650
  (a) Except as provided in subdivision (b), nothing in this division or the laws of this state shall be construed as denying to an association...
• California Financial Code Section 7675
  (a) Pursuant to the authority contained in Section 1 of Article XV of the California Constitution, the restrictions upon rates of interest contained in Section...
• California Financial Code Section 7700.3
  An association may engage in leasing activities that are the functional equivalent of lending, subject to the limitations of Sections 7701 to 7704, inclusive.
• California Financial Code Section 7701
  An association may become the legal or beneficial owner of tangible personal property or real property for the purpose of leasing such property, may obtain...
• California Financial Code Section 7702
  (a) A lease of tangible personal property made to a natural person for personal, family, or household purposes pursuant to this section shall be subject...
• California Financial Code Section 7703
  For the purposes of this article: (a) A "net lease" is a lease under which the association will not, directly or indirectly, provide or be...
• California Financial Code Section 7704
  If, in good faith, an association believes that there has been an unanticipated change in conditions that threatens its financial position by significantly increasing its...
• California Financial Code Section 7720
  (a) An association may invest in tangible personal property, including without limitation, vehicles, mobilehomes, machinery, equipment, or furniture, and may hold the property for rental...
• California Financial Code Section 7800
  Subject to the provisions of Section 2955.5 of the Civil Code, the board of directors of every association and affiliate or service corporation of an...
• California Financial Code Section 8009
  (a) Except where required by law, regulation, or court order, or permitted under subdivision (b), the commissioner, and all employees of the department, shall not...
• California Financial Code Section 8010
  The commissioner, after a determination of value made in accordance with Article 4 (commencing with Section 8150) of Chapter 7, may order that assets, individually...
• California Financial Code Section 8030
  (a) To meet the operating costs and expenses of the department in administering this division and other laws relating to savings associations or the savings...
• California Financial Code Section 8031
  The proportion of operating costs and expenses to be assessed against each association shall be determined and prescribed by the commissioner by regulation. The total...
• California Financial Code Section 8032
  (a) On or before the 20th day of June of each year the commissioner shall notify each association by mail of the amount assessed and...
• California Financial Code Section 8033
  If an association ceases to be an association by reason of merger, consolidation, conversion, acquisition of assets, or a similar type of transaction, any unpaid...
• California Financial Code Section 8034
  (a) If a new domestic association is formed during a fiscal year, the initial assessment provided for by this article shall be computed on the...
• California Financial Code Section 8035
  If any domestic association proposes to acquire the assets of any federal association or any state or national bank by transfer, conversion, or otherwise, the...
• California Financial Code Section 8035.5
  As of the operative date of this section: (a) The Savings Association Special Regulatory Fund is converted into a separate account in the Financial Institutions...
• California Financial Code Section 8036
  All money collected or received by the commissioner under this division or any other law relating to savings associations or the savings association business, except...
• California Financial Code Section 8037
  All expenses of the department in administering the division and other laws relating to savings associations or to the savings association business shall be paid...
• California Financial Code Section 8050
  (a) The commissioner shall have general supervision over all (1) associations, (2) savings and loan holding companies, (3) service corporations, (4) finance subsidiaries, and (5)...
• California Financial Code Section 8051
  Each decision, order, or instruction shall be in writing signed by the commissioner or a deputy commissioner and shall be sent by registered or first-class...
• California Financial Code Section 8053
  The commissioner may from time to time issue, amend and rescind any rules, regulations, forms, and orders that are necessary to carry out the provisions...
• California Financial Code Section 8054
  (a) Notwithstanding any other provision of law, whenever by statute or regulation there is extended to federal associations doing business in this state any right,...
• California Financial Code Section 8055
  Every final decision of the commissioner is subject to judicial review in accordance with law. An action or proceeding for judicial review pursuant to this...
• California Financial Code Section 8150
  (a) On or before the last day of January in each year, or within 30 days following the end of the fiscal year, each association,...
• California Financial Code Section 8151
  Each association, savings and loan holding company and subsidiary of any association or savings and loan holding company that is required to file an annual...
• California Financial Code Section 8152
  From time to time the commissioner may, without previous notice, examine or cause an examination to be made into the affairs of each association, and...
• California Financial Code Section 8153
  (a) In lieu of a report or an examination under Section 8150 or 8152, the commissioner may accept any report made to, or examination made...
• California Financial Code Section 8154
  (a) Whenever, in the judgment of the commissioner, the condition of any association, savings and loan holding company, or any of their subsidiaries renders it...
• California Financial Code Section 8155
  (a) The commissioner is authorized in connection with any examination or audit of any association or any subsidiary to cause to be made appraisals of...
• California Financial Code Section 8156
  (a) Each association shall at least annually cause its books and accounts to be audited at its own expense by a certified public accountant or...
• California Financial Code Section 8157
  (a) The commissioner may prescribe the scope of the annual audit and may require the auditor to furnish information in addition to that contained in...
• California Financial Code Section 8158
  (a) The commissioner, or any department employee authorized by the commissioner, shall have free access to all books and records of an association, savings and...
• California Financial Code Section 8159
  For each department examination or appraisal made outside this state, a reasonable fee and the actual traveling expenses incurred shall be paid to the department...
• California Financial Code Section 8160
  If an association, savings and loan holding company, or any subsidiary of an association or savings and loan holding company fails to report to the...
• California Financial Code Section 8200
  The commissioner may issue cease and desist orders which may order affirmative action in accordance with the following: (a) If the commissioner, as a result...
• California Financial Code Section 8201
  (a) Whenever the commissioner determines that any institution-affiliated party or any director, officer, or employee of a savings and loan holding company or affiliate thereof...
• California Financial Code Section 8202
  (a) The commissioner shall publish and make the following available to the public: (1) Any final order issued with respect to any administrative enforcement proceeding...
• California Financial Code Section 8225
  (a) Whenever the commissioner deems it necessary in order to conserve the assets of any association for the benefit of the depositors and other creditors,...
• California Financial Code Section 8226
  Any conservator shall have all the rights, powers, and privileges possessed by the officers, directors, members and stockholders of the association.
• California Financial Code Section 8227
  Except as authorized by the commissioner, the conservator shall not retain special counsel or other experts, incur any expense other than normal operating expenses, or...
• California Financial Code Section 8228
  The directors and officers shall remain in office and the employees shall remain in their respective positions, but the conservator may remove any director, officer,...
• California Financial Code Section 8229
  (a) While the association is in the charge of a conservator, savings account holders, borrowers, and other obligors of the association shall continue to make...
• California Financial Code Section 8230
  Whenever a conservator has taken possession of the property and business of any association pursuant to this article, that association, within 10 days after the...
• California Financial Code Section 8250
  (a) If the commissioner finds that any association (1) is in an impaired condition, (2) is engaging in practices that threaten to result in an...
• California Financial Code Section 8251
  (a) In the case of an insured association, the appointment by the commissioner of a receiver under this article shall constitute an official determination of...
• California Financial Code Section 8252
  If the commissioner or a department employee is appointed receiver, no additional compensation shall be paid, but if another person is appointed, then the compensation...
• California Financial Code Section 8253
  If the association is an institution insured by the Federal Deposit Insurance Corporation, the Federal Deposit Insurance Corporation shall be tendered appointment as receiver or...
• California Financial Code Section 8254
  Whenever a receiver has taken possession of the property and business of any association pursuant to this article, that association, within 10 days after the...
• California Financial Code Section 8500
  (a) Every federal association and the holders of stock, shares, share accounts, savings accounts, and certificate accounts issued by any federal association have all the...
• California Financial Code Section 8501
  No director of a federal association shall be liable for monetary damages to the federal association, its stockholders or members, based upon the laws of...
• California Financial Code Section 9000
  Associations shall pay all fees required by this division to the department.
• California Financial Code Section 9001
  (a) Except where otherwise expressly provided, the commissioner shall prescribe by regulation the amount of each fee expressly required by the provisions of this division,...
• California Financial Code Section 10000
  Terms not expressly defined in this chapter have the meaning given in Chapter 1 (commencing with Section 5000) or as the commissioner may provide by...
• California Financial Code Section 10001
  (a) No person, other than a California savings association or other person authorized by this division, shall do any business of an association. (b) No...
• California Financial Code Section 10002
  Notwithstanding Section 10001, and subject to Section 10003, on and after January 1, 1991, a foreign savings association may conduct the business of an association...
• California Financial Code Section 10003
  No foreign savings association may conduct the business of an association in California, and no foreign savings association or foreign holding company may acquire control...
• California Financial Code Section 10004
  Except as expressly provided for in this chapter, any person who, as principal, agent, salesperson, solicitor, or in any other capacity, solicits or conducts in...
• California Financial Code Section 10005
  For the purposes of this article and any other law of this state prohibiting, limiting, or regulating the doing of business or the selling, taking,...
• California Financial Code Section 10006
  Except as provided by regulation, this division applies to a foreign savings association or its holding company as if business conducted in this state were...
• California Financial Code Section 10007
  If a foreign savings association is controlled by a foreign holding company, the requirements under this chapter applicable to both a foreign savings association and...
• California Financial Code Section 10009
  This chapter shall become operative on January 1, 1991.
• California Financial Code Section 10010
  Terms not expressly defined in this chapter have the meaning given in Chapter 1 (commencing with Section 5000) or as the commissioner may provide by...
• California Financial Code Section 12000
  This division is known and may be cited as the Check Sellers, Bill Payers and Proraters Law.
• California Financial Code Section 12001
  Unless the context otherwise requires, the definitions set forth in this chapter govern the construction of this division.
• California Financial Code Section 12002
  A check seller is a person: (a) who, for compensation, engages, in whole or in part, in the business of selling checks, drafts, money orders,...
• California Financial Code Section 12002.1
  A prorater is a person who, for compensation, engages in whole or in part in the business of receiving money or evidences thereof for the...
• California Financial Code Section 12002.2
  A business agent, for the purpose of this division is a person who engages in business as a prorater as defined in Section 12002.1 as...
• California Financial Code Section 12003
  "Commissioner" means the Commissioner of Corporations of the State of California, or any deputy, investigator, auditor, or any other person employed by him.
• California Financial Code Section 12004
  "Licensee" means any individual or corporation licensed by the commissioner to engage in the business of a business agent, and any corporation licensed by the...
• California Financial Code Section 12005
  "Mobile unit" means a vehicle or other movable means from which the business of selling checks, drafts, or money orders is conducted.
• California Financial Code Section 12100
  This division does not apply to any of the following: (a) Any person, or his or her authorized agent, doing business under license and authority...
• California Financial Code Section 12101.5
  In any proceeding under this law, the burden of proving an exemption or an exception from a definition is upon the person claiming it.
• California Financial Code Section 12102
  Any person who willfully violates any provision of this division, or who willfully violates any rule or order under this division, shall, upon conviction, be...
• California Financial Code Section 12102.1
  A licensee under this division or any person engaged in the same type of business as licensed under this division whether said person is licensed...
• California Financial Code Section 12103
  Whenever in the opinion of the commissioner any person is engaged in business as a check seller as defined in this division without a license...
• California Financial Code Section 12104
  A nonprofit community service organization that meets all of the following criteria shall be exempt from any requirements imposed on proraters pursuant to this division:...
• California Financial Code Section 12105
  (a) Whenever it appears to the commissioner that any person has engaged or is about to engage in any act or practice constituting a violation...
• California Financial Code Section 12106
  (a) The commissioner may do the following, at his or her discretion: (1) Make public or private investigations within or outside of this state necessary...
• California Financial Code Section 12107
  (a) If, upon inspection or investigation, based upon a complaint or otherwise, the department has cause to believe that a person is engaged in business...
• California Financial Code Section 12108
  (a) The remedies available to the commissioner pursuant to this division are not exclusive and may be sought and employed in any combination deemed advisable...
• California Financial Code Section 12200
  No person shall engage in the business, for compensation, of selling checks, drafts, money orders, or other commercial paper serving the same purpose, or of...
• California Financial Code Section 12200.1
  A license to engage in the business of selling checks, drafts, or money orders, or of receiving money as agent of an obligor for the...
• California Financial Code Section 12200.2
  A license as a business agent or special prorater may be issued to an individual.
• California Financial Code Section 12200.3
  No licensee under this division shall engage in the business of selling checks, drafts, or money orders, or other commercial paper serving the same purpose...
• California Financial Code Section 12200.5
  The commissioner shall classify and license applicants for a proraters license in accordance with the nature of their existing or proposed business and the extent...
• California Financial Code Section 12201
  An application for a license shall be in writing, under oath, and in a form prescribed by the commissioner and shall contain the name, and...
• California Financial Code Section 12202
  If the business is to be conducted at a specific address or addresses, the address or addresses at which the business is to be conducted...
• California Financial Code Section 12203
  If the business is to be conducted from a mobile unit, the California state registration number or other identification of such mobile unit and the...
• California Financial Code Section 12204
  The application shall specify the type of business for which a license is requested and shall also contain such other information as the commissioner may...
• California Financial Code Section 12205
  (a) A licensed bill payer, general prorater, or special prorater who does not qualify to make use of agencies in the conduct of its business...
• California Financial Code Section 12206
  (a) If the applicant is to engage in the business of receiving money for the purpose of paying bills, invoices or accounts of an obligor,...
• California Financial Code Section 12207
  The bond shall be approved by the commissioner. The bond shall run to the state for the use of the state and of any person...
• California Financial Code Section 12208
  The bond shall be conditioned that the obligor will faithfully conform to and abide by the provisions of this division and of all rules and...
• California Financial Code Section 12209
  The bond shall remain in force and effect until the surety is released from liability by the commissioner, or until the bond is canceled by...
• California Financial Code Section 12212
  No action may be brought on the bond by any person after the expiration of two years from the time when the act or default...
• California Financial Code Section 12213
  When an action is commenced on the bond of a licensee the commissioner may require the filing of a new bond, and immediately upon the...
• California Financial Code Section 12214
  (a) An applicant at the time of filing an application for a license under this division shall pay to the commissioner the sum of fifty...
• California Financial Code Section 12216
  (a) Upon the filing of the application and the payment of the fees and the approval of the bond, the commissioner shall investigate and examine...
• California Financial Code Section 12217
  Each license shall state the following: (a) The name of the licensee, and if the licensee is a partnership or association the names of the...
• California Financial Code Section 12218
  The license shall be kept conspicuously posted in the principal place of business of the licensee.
• California Financial Code Section 12219
  The license is not transferable or assignable.
• California Financial Code Section 12220
  The commissioner may by regulation require licensees to file at such times as he may specify such information as the commissioner may reasonably require regarding...
• California Financial Code Section 12221
  Upon reasonable notice and opportunity to be heard, the commissioner may deny the application for the license for any of the following reasons: (a) A...
• California Financial Code Section 12223
  The commissioner may require a licensee, in addition to the bond provided in Section 12206, to obtain an adequate fidelity bond for each officer, employee,...
• California Financial Code Section 12225
  The commissioner may issue a duplicate of a license that has been lost, stolen, or destroyed, or for a certificate which the licensee desires to...
• California Financial Code Section 12300
  The commissioner may make general rules and regulations and specific rulings, demands, and findings for the enforcement of this division.
• California Financial Code Section 12300.1
  Licensees shall observe reasonable precautions against theft or alteration of checks, drafts or money orders, and against burglary or holdup.
• California Financial Code Section 12300.2
  Every person engaging in the business of a check seller shall conduct the business under his or her true name unless he or she has...
• California Financial Code Section 12300.3
  All funds received by a licensee or its agents from the sale of checks, drafts, money orders, or other commercial paper serving the same purpose...
• California Financial Code Section 12300.4
  Prior to such separation and transmittal to the licensee or deposit by its agent such funds received by said agent may be used by said...
• California Financial Code Section 12300.5
  An amount equal to all such funds received by a licensee shall be separated from the funds of the licensee and deposited in its trust...
• California Financial Code Section 12300.6
  Prior to separation and deposit by the licensee such funds may only be used by the licensee for the making of change or the cashing...
• California Financial Code Section 12301
  A licensee may establish branch offices or agencies if it is qualified under the provisions of Section 12205 and if it expressly assumes responsibility for...
• California Financial Code Section 12301.1
  A licensee within 10 days after establishing a mobile unit, a branch office or agency location shall notify the commissioner in writing and shall furnish...
• California Financial Code Section 12301.2
  A check, draft, or money order sold by a licensee shall be drawn on an account of a licensee maintained at a bank authorized to...
• California Financial Code Section 12301.3
  A licensee shall not permit any officer, employee, or agent to sell any check, draft, or money order unless the signature of the person signing...
• California Financial Code Section 12301.4
  A licensee shall terminate and cancel any agency immediately upon instruction from the commissioner and when it has been established (a) that the agent has...
• California Financial Code Section 12301.5
  No agent of a licensee shall issue or cause to be issued any check, draft, or money order, or other commercial paper serving the same...
• California Financial Code Section 12302
  Whenever a licensee desires to change his place of business to a street address other than that designated in his license or desires to change...
• California Financial Code Section 12303
  Every licensee shall keep and use in his business books, accounts and records in accordance with good accounting practice and which will enable the commissioner...
• California Financial Code Section 12304
  (a) Each licensee, except a special prorater, shall submit to the commissioner, at such licensee's own expense, an audit report containing audited financial statements covering...
• California Financial Code Section 12305
  For the purpose of discovering violations of this division the commissioner may at any time investigate the business and examine the books, accounts, records, and...
• California Financial Code Section 12306
  The cost of every examination of a licensee or other person subject to this division shall be paid to the commissioner by the licensee or...
• California Financial Code Section 12307
  The commissioner may require the attendance of witnesses and examine under oath all persons whose testimony he requires relative to any examination or investigation.
• California Financial Code Section 12307.1
  The commissioner may commence and prosecute actions and proceedings to enjoin violations of this division or violations of orders or decisions of the commissioner rendered...
• California Financial Code Section 12307.2
  If the commissioner finds as a result of an examination or report that a licensee is insolvent or conducting business in such an unsafe or...
• California Financial Code Section 12307.3
  Whenever as a result of an examination or report it appears to the commissioner that: (a) The capital of any licensee is impaired; (b) Any...
• California Financial Code Section 12307.4
  Whenever the commissioner has taken possession of the property and business of a licensee the commissioner may petition the superior court for the appointment of...
• California Financial Code Section 12307.5
  (a) For any licensee, a disciplinary action taken by the State of California, another state, an agency of the federal government, or another country for...
• California Financial Code Section 12309
  (a) A schedule of the fees charged by a licensee shall be posted in a conspicuous place in the place of business of the licensee...
• California Financial Code Section 12310
  A licensee under this division shall not sell checks payable to bearer, to cash, or to the purchaser, but a licensee may sell a check...
• California Financial Code Section 12311
  No licensee shall advertise, print, display, publish, distribute, or broadcast, or cause or permit to be advertised, printed, displayed, published, distributed, or broadcast, in any...
• California Financial Code Section 12312
  An agreement between one licensed to engage in the business of selling checks, drafts, money orders, or other commercial paper serving the same purpose, and...
• California Financial Code Section 12313.5
  Nothing in this chapter shall be construed as authorizing the examination, inspection or auditing of the books and records of any client of a business...
• California Financial Code Section 12314
  The total charges received by a prorater, or any other person for the prorater's services, may not exceed in the aggregate twelve percent (12%) for...
• California Financial Code Section 12314.1
  A cancellation fee or termination penalty may not be charged to a debtor.
• California Financial Code Section 12315
  A prorater shall not receive any fee unless he has the consent of at least 51 percent of the total amount of indebtedness and of...
• California Financial Code Section 12315.1
  A prorater shall notify, in writing, all creditors listed in the prorate contract of the debtors desire to engage the services of the prorater within...
• California Financial Code Section 12316
  If a prorater contracts for, receives or makes any charge in excess of the maximum permitted by this division, except as the result of an...
• California Financial Code Section 12317
  A prorater shall not purchase from a creditor any obligation of a debtor.
• California Financial Code Section 12318
  A prorater shall not take: (a) Any contract, promise to pay, or other instrument which has any blank spaces when signed by a debtor; (b)...
• California Financial Code Section 12319
  Every contract between a prorater and a debtor shall: (a) List every debt to be prorated with the creditor's name and disclose the total of...
• California Financial Code Section 12320
  A prorater shall deliver a copy of any contract or agreement between the prorater and a debtor to the debtor immediately after the debtor executes...
• California Financial Code Section 12321
  Unless paid by check or money order a prorater shall deliver a receipt to a debtor for each payment within five (5) days after receipt...
• California Financial Code Section 12322
  At least once in each six (6) months, the prorater shall render an accounting to the debtor which shall itemize the total amount received from...
• California Financial Code Section 12323
  A prorater shall not lend money or credit.
• California Financial Code Section 12324
  A prorater shall not: (a) Offer, pay, or give any cash, fee, gift, bonus, premium, reward, or other compensation to any person for referring any...
• California Financial Code Section 12325
  A prorater shall not solicit or require a debtor to purchase or agree to purchase any policy of insurance.
• California Financial Code Section 12326
  A special prorater shall not advertise in any manner or otherwise hold himself out to the public as a general prorater or as qualified to...
• California Financial Code Section 12327
  Nothing in this division shall be deemed to authorize the performance, directly or indirectly, of an act or acts constituting the practice of law by...
• California Financial Code Section 12328
  (a) No collection agency may be maintained in the same premises as a prorating organization unless such prorating organization is exempt under the provisions of...
• California Financial Code Section 12329
  It shall be unlawful for any prorater to disclose the list of creditors of a debtor to any individual or firm for the purpose of...
• California Financial Code Section 12330
  The commissioner shall have power and authority to promulgate rules and regulations governing the form and wording of advertising to be used by proraters. The...
• California Financial Code Section 12331
  Within the organization of each prorater corporation, either as an owner, officer, or employee, there shall be one or more persons possessing a minimum of...
• California Financial Code Section 12332
  (a) It is unlawful for any person to knowingly alter, destroy, mutilate, conceal, cover up, falsify, or make a false entry in any record, document,...
• California Financial Code Section 12400
  The commissioner may, upon reasonable opportunity to be heard, suspend or revoke any license issued pursuant to this division, if he finds that: (a) The...
• California Financial Code Section 12401
  The commissioner may upon three days' notice and a hearing, suspend any license for a period not exceeding 30 days, pending investigation.
• California Financial Code Section 12401.1
  The commissioner may by order summarily suspend or revoke the license of a licensee who fails to pay the license fee prescribed by Section 12214...
• California Financial Code Section 12402
  Except where a shorter time for setting the hearing is prescribed in this division, all hearings under this division shall be conducted in accordance with...
• California Financial Code Section 12403
  Every order, decision, license, or other official act of the commissioner is subject to review in accordance with law.
• California Financial Code Section 12404
  (a) The commissioner may, after appropriate notice and opportunity for hearing, by order, censure or suspend for a period not exceeding 12 months, or bar...
• California Financial Code Section 13000
  It is the intent of the Legislature in enacting this division to enhance the safety of consumers using automated teller machines in California without discouraging...
• California Financial Code Section 13020
  As used in this division: (a) "Access area" means any paved walkway or sidewalk which is within 50 feet of an automated teller machine. The...
• California Financial Code Section 13030
  On or before July 1, 1991, with respect to all existing installed automated teller machines in this state, and any automated teller machines installed after...
• California Financial Code Section 13031
  It is not the intent of the Legislature in enacting this chapter to impose a duty to relocate or modify automated teller machines upon the...
• California Financial Code Section 13040
  (a) Each operator of an automated teller machine installed on or after July 1, 1991, shall comply with Section 13041 commencing on the date the...
• California Financial Code Section 13041
  The operator, owner, or other person responsible therefor, shall provide lighting during hours of darkness with respect to an open and operating automated teller machine...
• California Financial Code Section 13050
  Customers receiving access devices shall be furnished by the respective issuers thereof with notices of basic safety precautions which customers should employ while using an...
• California Financial Code Section 13060
  The provisions of this division shall not apply with respect to any automated teller machine which is: (a) Located inside of a building, unless it...
• California Financial Code Section 13070
  This division supersedes and preempts all rules, regulations, codes, statutes, or ordinances of all cities, counties, cities and counties, municipalities, and local agencies regarding customer...
• California Financial Code Section 13080
  (a) No operator of an automated teller machine (ATM) in this state shall impose any surcharge upon a customer for the usage of that machine...
• California Financial Code Section 13081
  (a) In enacting this section, the Legislature finds and declares all of the following: (1) It is in the best interest of consumers in this...
• California Financial Code Section 13082
  (a) Whenever a point-of-sale system is changed or modified to include a video touch screen or any other nontactile keypad, the point-of-sale device that would...
• California Financial Code Section 13083
  (a) Subject to the requirements of Section 13080, an agreement to operate or share an automated teller machine may not prohibit, limit, or restrict the...
• California Financial Code Section 14000
  This division shall be known as the "California Credit Union Law."
• California Financial Code Section 14001
  The definitions given in this division govern the construction of this division unless the context otherwise requires.
• California Financial Code Section 14001.1
  This division is applicable to any person, other than a federal credit union engaging in the business of a credit union in this state. For...
• California Financial Code Section 14001.5
  If and to the extent that any provision of this division is preempted by federal law, the provision shall not apply and shall not be
• California Financial Code Section 14002
  A credit union is a cooperative, organized for the purposes of promoting thrift and savings among its members, creating a source of credit for them...
• California Financial Code Section 14002.5
  (a) Except as provided in subdivision (b), all provisions of law applicable to nonprofit mutual benefit corporations generally (including, but not limited to, the Nonprofit...
• California Financial Code Section 14003
  "Commissioner" means the Commissioner of Financial Institutions of the State of California.
• California Financial Code Section 14004
  "Impaired capital" means that the losses or projected losses of a credit union are such that the book value of a member's share is reduced...
• California Financial Code Section 14005
  Unless otherwise defined in this division, "insolvent" means a credit union has ceased to pay its debts in the ordinary course of business, or cannot...
• California Financial Code Section 14006
  "Credit manager" means a natural person approved by the board of directors and employed by a credit union to supervise the lending activities of the...
• California Financial Code Section 14007
  "Obligation" means any contractual obligation to the credit union for money borrowed or credit extended or guaranteed from its members, including, but not limited to,...
• California Financial Code Section 14050
  The use by any person, other than those authorized by this division, of any name or title which contains the phrase "credit union," is a...
• California Financial Code Section 14051
  Any person who willfully and knowingly makes, circulates, or transmits to another or others any statement or rumor, written, printed or by word of mouth,...
• California Financial Code Section 14052
  In addition to the powers enumerated in this division, every credit union has the general powers conferred upon corporations by the Nonprofit Mutual Benefit Corporation...
• California Financial Code Section 14100
  (a) Credit unions shall be incorporated under the Nonprofit Mutual Benefit Corporation Law of this state. (b) The Secretary of State shall not file the...
• California Financial Code Section 14101
  The articles of incorporation of every credit union shall set forth the following: (a) The name of the corporation, which shall include the phrase "credit...
• California Financial Code Section 14101.2
  (a) The articles shall be signed by each director named in the articles, acknowledged pursuant to Section 5030 of the Corporations Code and filed in...
• California Financial Code Section 14101.4
  (a) The provisions of Section 14101, except as provided in subdivision (b) of that section, shall not apply to a credit union organized prior to...
• California Financial Code Section 14101.6
  (a) Every credit union shall, within 90 days after the filing of its original articles and annually thereafter during the applicable filing period in each...
• California Financial Code Section 14101.8
  (a) No amendment of the articles of a credit union shall become effective unless the certificate of amendment or other instrument setting forth the amendment...
• California Financial Code Section 14102
  (a) Amendments to the articles of incorporation of any credit union may be adopted by resolution of the board of directors, which is also adopted...
• California Financial Code Section 14102.2
  (a) No restated articles of a credit union shall become effective unless the certificate setting forth the restated articles, with the commissioner's approval endorsed thereon,...
• California Financial Code Section 14102.4
  (a) No certificate of correction of a credit union shall become effective unless the certificate, with the commissioner's approval endorsed thereon, is filed with the...
• California Financial Code Section 14102.6
  (a) No certificate of revocation by a credit union shall become effective unless the certificate, with the commissioner's approval endorsed thereon, is filed with the...
• California Financial Code Section 14103
  The bylaws shall prescribe the manner in which the business of the credit union shall be conducted with reference to the following matters: (a) The...
• California Financial Code Section 14150
  No membership shares, certificates for funds or other securities shall be issued by any credit union until it has applied for and obtained from the...
• California Financial Code Section 14151
  Applications for a certificate to act as a credit union shall be made in writing to the commissioner, setting forth such information as the commissioner...
• California Financial Code Section 14152
  At the time of filing an application to operate as a credit union, the applicant shall pay to the commissioner a filing fee of five...
• California Financial Code Section 14153
  Upon the filing of the application for a certificate to act as a credit union, the commissioner shall examine the application together with the other...
• California Financial Code Section 14154
  If the commissioner determines that the applicant has satisfied the provisions of this division and does not find facts constituting reasons for denial as specified...
• California Financial Code Section 14155
  Upon reasonable notice and opportunity to be heard, the commissioner may deny the application for a certificate to act as a credit union or an...
• California Financial Code Section 14156
  Each certificate issued under this division remains in full force and effect until surrendered and accepted by the commissioner, or until suspended or revoked by...
• California Financial Code Section 14200
  The powers of supervision and examination of all credit unions organized under the provisions of this division are vested in the commissioner.
• California Financial Code Section 14200.1
  There is in the Department of Financial Institutions, the Division of Credit Unions. The Division of Credit Unions has charge of the execution of the...
• California Financial Code Section 14200.2
  The Chief Officer of the Division of Credit Unions is the Deputy Commissioner of Financial Institutions for the Division of Credit Unions. The Deputy Commissioner...
• California Financial Code Section 14201
  The commissioner may establish or waive such rules and regulations as may be reasonable or necessary to carry out the purposes and provisions of this
• California Financial Code Section 14202
  The commissioner may by regulation authorize credit unions organized under the provisions of this division to engage in any activity authorized by law or regulation...
• California Financial Code Section 14203
  Upon request of the commissioner, a credit union shall furnish to the commissioner an authorization for examination of financial records of any capital funds, undivided...
• California Financial Code Section 14204
  If the commissioner upon any examination, or from any report made to the commissioner, finds any credit union is violating the provisions of this division...
• California Financial Code Section 14205
  The commissioner may, upon reasonable notice and opportunity to be heard, suspend or revoke any certificate if the commissioner finds that the credit union has...
• California Financial Code Section 14207
  In any proceeding under this law, the burden of proving an exemption or an exception from a definition is upon the person claiming it.
• California Financial Code Section 14208
  The commissioner may, after appropriate notice and opportunity for hearing, by order censure, or suspend for a period not exceeding 12 months, or bar from...
• California Financial Code Section 14209
  (a) Whenever it appears to the commissioner that any person has engaged in or is about to engage in any acts or practices constituting a...
• California Financial Code Section 14211
  In determining for purposes of this division whether the capital of any credit union is adequate, the commissioner shall consider the following: (a) The nature...
• California Financial Code Section 14250
  (a) (1) The commissioner may at any time investigate into the affairs and examine the books, accounts, records, files, and any office within or outside...
• California Financial Code Section 14251
  The commissioner upon the written consent of any credit union officer or director may make any examination of the credit union in any regularly established...
• California Financial Code Section 14252
  (a) A credit union with total assets equal to or greater than ten million dollars ($10,000,000) shall, within 105 days after the end of each...
• California Financial Code Section 14253
  A credit union shall, when requested by the commissioner, submit its unaudited financial statements, prepared in accordance with generally accepted accounting principles and consisting of...
• California Financial Code Section 14254.5
  (a) Except as provided in subdivisions (b) and (c), within 10 business days of opening, closing, or relocating a branch office, a credit union shall...
• California Financial Code Section 14255
  Every credit union shall make other special reports to the commissioner as the commissioner may from time to time require. Such reports shall be in...
• California Financial Code Section 14256
  (a) If any credit union fails to file with the commissioner any report required by this division on or before the day designated for the...
• California Financial Code Section 14257
  Investigation and examination reports prepared by the commissioner's duly designated representatives shall not be public records. The reports may be disclosed to the officers, directors,...
• California Financial Code Section 14300
  For purposes of this chapter, the following terms shall have the following meanings: (a) "Officer with a subject institution" means the position of director, officer,...
• California Financial Code Section 14301
  Any requirement in this chapter for notice or hearing before the commissioner issues an order may be waived by the person to whom the order...
• California Financial Code Section 14302
  (a) The commissioner may bring an action in the name of the people of this state in the superior court to enjoin any violation of,...
• California Financial Code Section 14303
  (a) The commissioner may, without any prior notice or hearing, order a person to cease and desist from violating Section 14150 if either of the...
• California Financial Code Section 14304
  If, after notice and a hearing, the commissioner finds any of the factors set forth in subdivision (a) or (b) with respect to a subject...
• California Financial Code Section 14305
  (a) If the commissioner finds that any of the factors set forth in Section 14304 is true with respect to a subject institution or subject...
• California Financial Code Section 14306
  An order issued pursuant to Sections 14303 to 14305, inclusive, may include any of the following provisions: (a) Require the subject institution or subject person...
• California Financial Code Section 14307
  (a) If the commissioner finds that a subject institution's books or records are so incomplete or inaccurate that the commissioner is unable through the normal...
• California Financial Code Section 14308
  If, after notice and a hearing, the commissioner finds that any of the factors set forth in subdivision (a), any of the factors set forth...
• California Financial Code Section 14309
  (a) If the commissioner finds that any of the factors set forth in subdivision (a) of Section 14308, any of the factors set forth in...
• California Financial Code Section 14310
  (a) If the commissioner finds that any of the factors set forth in paragraph (1) and the factor set forth in paragraph (2) are true...
• California Financial Code Section 14311
  (a) Any subject institution, subject person of a subject institution, or former subject person of a subject institution to whom an order is issued under...
• California Financial Code Section 14312
  (a) For purposes of this section, "subject depository institution" means any of the following: (1) A credit union that is organized under the laws of...
• California Financial Code Section 14313
  If the commissioner finds that any of the factors set forth in subdivisions (a) to (g), inclusive, are true with respect to a California credit...
• California Financial Code Section 14314
  (a) If the commissioner takes possession of the property and business of a California credit union pursuant to Section 14313, the California credit union may,...
• California Financial Code Section 14315
  (a) On taking possession of the business and assets of any credit union as provided in this chapter, the commissioner may proceed to liquidate the...
• California Financial Code Section 14316
  The commissioner shall supervise the acts of the liquidating agent or the liquidating committee appointed under this article and may remove the liquidating agent or...
• California Financial Code Section 14317
  If required by the commissioner, the liquidating agent or the members of the liquidating committee appointed under this article shall provide proof of bond coverage...
• California Financial Code Section 14318
  If the commissioner retains possession of the assets of a credit union for purposes of liquidation, the commissioner shall use the services of civil service...
• California Financial Code Section 14319
  In any case where the commissioner takes possession of a subject institution pursuant to this article without a prior notice or hearing, or takes action...
• California Financial Code Section 14350
  The commissioner shall annually levy on and collect from credit unions holding certificates authorizing them to act as credit unions, pro rata on the basis...
• California Financial Code Section 14351
  (a) The amount of the annual assessment on any credit union holding a certificate authorizing it to act as a credit union shall be the...
• California Financial Code Section 14352
  For purposes of the annual assessment, the total assets of a credit union holding a certificate authorizing it to act as a credit union shall...
• California Financial Code Section 14353
  (a) Whenever the commissioner levies an annual assessment on credit unions holding certificates authorizing them to act as credit unions, the commissioner shall promptly mail...
• California Financial Code Section 14353.5
  Whenever the commissioner finds it necessary or advisable to make an extra examination of a credit union, the commissioner may charge the credit union a...
• California Financial Code Section 14354
  There is established the Credit Union Fund in the State Treasury.
• California Financial Code Section 14355
  All money received or collected by the commissioner under this division or any other law relating to credit unions or the credit union business shall...
• California Financial Code Section 14356
  All expenses of the department in administering this division and other laws relating to credit unions or the credit union business shall be paid out...
• California Financial Code Section 14380
  There is established in the department a Credit Union Advisory Committee.
• California Financial Code Section 14381
  The Credit Union Advisory Committee shall advise the commissioner and the Deputy Commissioner of Financial Institutions for the Division of Credit Unions on matters relating...
• California Financial Code Section 14382
  (a) The Credit Union Advisory Committee consists of seven members. (b) The members of the Credit Union Advisory Committee shall be appointed by the Secretary...
• California Financial Code Section 14383
  The Credit Union Advisory Committee shall meet at least once each calendar quarter.
• California Financial Code Section 14384
  The commissioner may by order or regulation prescribe rules governing the Credit Union Advisory Committee and its members, including such matters as meetings, quorum, and
• California Financial Code Section 14400
  (a) The savings capital of a credit union shall consist of the payments made by members on shares as set forth in the credit union's...
• California Financial Code Section 14401
  A credit union may borrow money from any source in an aggregate amount not to exceed 50 percent of the paid-in and unimpaired capital and...
• California Financial Code Section 14402
  Every credit union may purchase and hold, either individually or jointly with other credit unions or affiliated organizations, a lot and building to be employed...
• California Financial Code Section 14403
  Every credit union may purchase and hold, either individually or jointly with other credit unions or affiliated organizations, furniture, fixtures, vaults, and other personal property...
• California Financial Code Section 14404
  A credit union shall not invest more than the amounts permitted pursuant to regulations which shall be promulgated by the commissioner for the investments set...
• California Financial Code Section 14405
  Every credit union may: (a) (1) Become a member of any organization or organizations composed of credit unions, credit associations, chambers of commerce, financial institutions,...
• California Financial Code Section 14406
  The savings capital, undivided profits, and reserve funds of a credit union shall be deposited only in the following: (a) Commercial banks or trust companies,...
• California Financial Code Section 14407
  (a) Whenever the losses of any credit union resulting from a depreciation in the value of its securities or otherwise exceed its undivided earnings and...
• California Financial Code Section 14408
  No credit union shall make any gift or donation having a value in excess of twenty-five thousand dollars ($25,000) unless the gift or donation is...
• California Financial Code Section 14409
  (a) Every credit union shall obtain adequate bond or insurance coverage, for each director, officer, supervisory committee member, and credit committee member, for the credit...
• California Financial Code Section 14409.2
  (a) Notwithstanding the provisions of Sections 1051, 1052, and 1054 of the Labor Code and Section 2947 of the Penal Code, any credit union or...
• California Financial Code Section 14410
  (a) No member of the board of directors, supervisory committee, or credit committee shall receive any compensation for his or her services as a member...
• California Financial Code Section 14450
  The credit union shall be directed by a board consisting of an odd number of directors, at least five in number, each of whom shall...
• California Financial Code Section 14451
  Directors may be elected for a term of three years or less. If directors are elected for terms in excess of one year their terms...
• California Financial Code Section 14452
  The office of any director shall be declared vacant if such director is absent from three consecutive regular meetings of the board of directors unless...
• California Financial Code Section 14452.5
  A vacancy on the board of directors shall be filled in accordance with Section 7224 of the Corporations Code, subject to the following: (a) A...
• California Financial Code Section 14453
  The board of directors of every credit union shall have the general management of the affairs, funds, and records of the credit union. The board...
• California Financial Code Section 14454
  The directors shall hold a meeting of all directors within 10 days after the annual meeting of members pursuant to Section 14804 for the purpose...
• California Financial Code Section 14456
  Unless the bylaws expressly reserve any or all of the following duties to the members, the directors have all of the following special duties: (a)...
• California Financial Code Section 14500
  (a) The officers of every credit union shall include a chairman or president, one or more vice chairmen or vice presidents, a secretary and a...
• California Financial Code Section 14501
  If the bylaws so provide, the directors may elect the same person as secretary and treasurer or chief financial officer.
• California Financial Code Section 14502
  The powers and duties of the officers of any credit union required pursuant to subdivision (a) of Section 14500 are as prescribed in the bylaws.
• California Financial Code Section 14550
  Every credit union shall have a supervisory committee of at least three persons, each of whom shall be a member of the credit union.
• California Financial Code Section 14551
  The supervisory committee may: (a) Suspend at any time by unanimous vote, at a meeting called for that purpose, the credit committee, or any member...
• California Financial Code Section 14551.5
  The supervisory committee shall be responsible for reviewing the credit union's policies and control procedures to safeguard against fraud and self-dealing, and the supervisory committee...
• California Financial Code Section 14552
  The supervisory committee shall, within seven days after suspension of any or all members of the credit committee, or any member of the board of...
• California Financial Code Section 14553
  (a) The supervisory committee shall at least once each year make or cause to be made an audit of the books and records and an...
• California Financial Code Section 14554
  No member of the supervisory committee shall serve as a member of the credit committee, as the credit manager, as a member of the board...
• California Financial Code Section 14555
  The commissioner may, after investigation and finding that the supervisory committee is not performing in conformance with this article, declare all offices of the supervisory...
• California Financial Code Section 14600
  Every credit union shall have a credit committee of at least three persons, each of whom shall be a member of the credit union, or...
• California Financial Code Section 14601
  No member of the credit committee or the credit manager or any loan officer shall serve as a member of the supervisory committee.
• California Financial Code Section 14602
  (a) (1) No credit union shall create any obligation with a credit union member, without the written approval of a majority of all the members...
• California Financial Code Section 14603
  The credit committee, the credit manager, or a loan officer may approve in advance, upon their own motion or upon the application of any member,...
• California Financial Code Section 14604
  A credit union member whose written application to enter into any obligation is denied, may appeal from the denial of the credit committee, the credit...
• California Financial Code Section 14605
  A credit manager shall not disburse or have the authority to authorize any person to disburse the proceeds of any loan. A credit manager shall...
• California Financial Code Section 14650
  Subject to the limitations of Sections 14402, 14403, and 14404, any credit union or credit unions may purchase, acquire and hold outstanding shares of a...
• California Financial Code Section 14651
  (a) Every credit union may invest in the shares of stock of a corporation, or in membership or economic interests of a limited liability company,...
• California Financial Code Section 14652
  Every credit union may invest in securities and other assets described in Chapter 9 (commencing with Section 1000) of the Banking Law as legal investments...
• California Financial Code Section 14652.5
  A credit union may organize, sponsor, operate, control, or render investment advice to, an investment company, or underwrite, distribute, or sell securities of any investment...
• California Financial Code Section 14653
  Credit unions may invest in a trust organized solely for the purpose of investing in United States government securities and United States government agency securities,...
• California Financial Code Section 14653.5
  Notwithstanding any other provision of law, a credit union may make any investment authorized by regulation or in writing by the commissioner.
• California Financial Code Section 14654
  Credit unions may purchase from the vendor or lessor of any personal property, conditional sale contracts or vehicle lease agreements covering the sale or lease...
• California Financial Code Section 14655
  A credit union may purchase from the owner thereof a promissory note upon which a member is primary obligor provided the credit union could have...
• California Financial Code Section 14656
  A credit union may, in accordance with rules and regulations prescribed by the commissioner, purchase from any liquidating credit union notes made by individual members...
• California Financial Code Section 14700
  Every credit union shall create and maintain a regular reserve as specified by the commissioner.
• California Financial Code Section 14701
  Losses incurred by a credit union may be charged to its regular reserve as permitted by rule of the commissioner.
• California Financial Code Section 14702
  In addition to the regular reserve, special reserves shall be established when required by regulation or when found necessary by the board of directors of...
• California Financial Code Section 14703
  A credit union shall establish and maintain an allowance-for-loan-losses account in accordance with generally accepted accounting principles. The commissioner may order the credit union to...
• California Financial Code Section 14750
  Except as provided in Section 14950, any officer, director, member of a committee of a credit union, loan officer appointed pursuant to Section 14602, or...
• California Financial Code Section 14751
  Any officer, director, member of a committee, credit manager, or loan officer appointed pursuant to Section 14602 who violates Section 14750 is primarily liable to...
• California Financial Code Section 14752
  Except as provided for in Section 14051 and this article, any person who willfully violates any provision of this division, or who willfully violates any...
• California Financial Code Section 14753
  Any director, officer, or employee of a credit union who asks for, receives, or agrees to receive any money, property, or thing of value for...
• California Financial Code Section 14754
  Any director, officer, or employee of a credit union who knowingly overdraws his or her account with that credit union, except for any overdraft pursuant...
• California Financial Code Section 14755
  Any director, officer, agent, or employee of any credit union who knowingly receives or possesses the credit union's property otherwise than in payment of a...
• California Financial Code Section 14756
  Any director, officer, agent, or employee of a credit union who (1) knowingly concurs in making or publishing any written report, exhibit, or statement of...
• California Financial Code Section 14758
  Any director, officer, or employee of a credit union who makes or maintains, or attempts to make or maintain, a deposit of the credit union's...
• California Financial Code Section 14759
  Any officer, director, employee, or agent of any credit union who willfully makes a false or untrue entry in any book, record, report, statement concerning...
• California Financial Code Section 14760
  (a) Every director of a credit union is guilty of a misdemeanor who: (1) In case of the fraudulent insolvency of that credit union, has...
• California Financial Code Section 14761
  Any officer or agent of any credit union who makes or delivers any guaranty or endorsement on behalf of the credit union whereby the credit...
• California Financial Code Section 14762
  A director of a credit union who concurs in any vote or act of the directors of the credit union by which it is intended...
• California Financial Code Section 14763
  Any officer or employee of any credit union who intentionally conceals from the directors of the credit union any discounts or loans made by the...
• California Financial Code Section 14764
  No credit union shall purchase any real or personal property or any interest in real or personal property, including, but not limited to, a leasehold,...
• California Financial Code Section 14765
  No officer, director, or employee of a credit union shall purchase, directly or indirectly, or be interested in the purchase of, any of the credit...
• California Financial Code Section 14766
  No officer, director, or employee of a credit union, directly or indirectly, shall purchase or be interested in the purchase of, any of the credit...
• California Financial Code Section 14767
  It is unlawful for any person willfully to make any untrue statement of a material fact in any document filed with the commissioner under this...
• California Financial Code Section 14768
  Any officer, director, employee, or agent of any credit union who abstracts or willfully misapplies any of the money, funds, or property of the credit...
• California Financial Code Section 14800
  (a) Every credit union may admit to membership those persons qualified for membership upon the occurrence of any of the following: (1) Upon the purchase...
• California Financial Code Section 14801
  Every credit union may expel members as provided in Section 14456 of this division and Section 7341 of the Corporations Code.
• California Financial Code Section 14802
  Each member shall keep the credit union informed of his current address. In the event a member fails to do this, a charge may be...
• California Financial Code Section 14803
  (a) No credit union shall pay any commission or compensation to any person for securing a new member or for getting an existing member to...
• California Financial Code Section 14804
  The members of a credit union shall hold an annual meeting for the election of directors and a supervisory committee and, if provided for in...
• California Financial Code Section 14805
  Special meetings of members may be held upon order of the board of directors. Special meetings of members shall be held upon the written request...
• California Financial Code Section 14806
  In credit unions formed on or after September 15, 1945, no member shall have more than one vote irrespective of the number of shares held...
• California Financial Code Section 14807
  Any member may withdraw from membership in the credit union at any time. A withdrawing member may be required to give 60 days' notice of...
• California Financial Code Section 14808
  All amounts paid on shares or on certificates for funds of an expelled or withdrawn member, with any dividends or interest credited thereto to the...
• California Financial Code Section 14809
  Members who leave the field of membership may be permitted to retain their membership in the credit union unless otherwise provided in the credit union's
• California Financial Code Section 14811
  (a) A member who has no outstanding obligations with the credit union and whose share account is below the amount established by the bylaws may...
• California Financial Code Section 14812
  Unless otherwise provided in the bylaws, a quorum for a meeting of members shall be 10 percent of the members or 50 members, whichever is
• California Financial Code Section 14820
  (a) Any member of a credit union may authorize another person or persons to act by proxy with respect to such membership, subject to subdivision...
• California Financial Code Section 14821
  (a) Except for solicited proxies which on their face provide for a period of validity of three years from the date of execution of the...
• California Financial Code Section 14822
  Notwithstanding any other provision to the contrary, no member shall vote by proxy on any matter submitted by mail to all members of a credit...
• California Financial Code Section 14850
  The Corporate Securities Law relating to the necessity of qualification of the sale of securities does not apply to the sale and issue of membership...
• California Financial Code Section 14851
  (a) Every credit union may issue shares (1) to any member qualified pursuant to the credit union's bylaws; (2) to an officer, employee, or agent...
• California Financial Code Section 14852
  Every credit union may charge a reasonable fee for the transfer of its shares.
• California Financial Code Section 14853
  A credit union may issue shares or certificates for funds to a minor of any age or maintain any other account authorized for credit union...
• California Financial Code Section 14854
  Subject to Section 14860, a credit union share account that is a multiple-party account, as defined in Section 5132 of the Probate Code, is governed...
• California Financial Code Section 14855
  Every credit union may receive money and accumulate funds to be loaned and execute certificates for funds for the money received. The certificates for funds...
• California Financial Code Section 14856
  Every credit union may impress a lien upon the shares and dividends of any member to the extent of any obligations entered into with that...
• California Financial Code Section 14857
  Every credit union may cancel the shares of any member who withdraws or is expelled, and apply the value of the shares to the liquidation...
• California Financial Code Section 14858
  Every credit union shall apply for and obtain insurance as provided for by Title II of the Federal Credit Union Act (12 U.S.C. Sec. 1781...
• California Financial Code Section 14860
  Except as provided in this section and Part 2 (commencing with Section 5100) of Division 5 of the Probate Code, no credit union shall exercise...
• California Financial Code Section 14861
  No credit union shall issue shares to anyone not qualified for membership under its bylaws, except shares issued in coownership as provided in Section 14851.
• California Financial Code Section 14862
  The board of directors shall establish from time to time a written savings capital structure policy which shall set out the various terms and conditions...
• California Financial Code Section 14863
  (a) A credit union shall not impose any charge on a member or depositor holding a periodic certificate for funds for the failure of such...
• California Financial Code Section 14865
  Shares issued by a credit union to a member shall be evidenced in monetary amounts rather than by numbers of shares. The shares owned by...
• California Financial Code Section 14866
  The evidence of credit union shares issued shall be a certificate, a passbook, a statement or other evidence approved by regulation of the commissioner. The...
• California Financial Code Section 14867
  (a) Shares, including special shares, and certificates for funds may be withdrawn for payment to the owner or for any third party, in the manner...
• California Financial Code Section 14868
  (a) As used in this section: (1) "Beneficiary" has the meaning given that term in Section 5126 of the Probate Code. (2) "Totten trust account"...
• California Financial Code Section 14900
  (a) The board of directors of any credit union may declare dividends at such intervals, in accordance with such formula, and for such periods as...
• California Financial Code Section 14901
  The rates of dividends and terms of payment may be established in advance by action of the board of directors. However, nothing in this section...
• California Financial Code Section 14902
  The directors of any credit union may, for the dividend period, declare dividends from its undivided profits as provided by law, but no credit union...
• California Financial Code Section 14905
  Amounts paid or credited by a credit union to its members or depositors on or before the 30th day after the close of its income...
• California Financial Code Section 14950
  (a) Every credit union may enter into obligations with its members upon the approval of the credit committee or, in the alternative, the credit manager,...
• California Financial Code Section 14951
  Any application for any loan or extension or guarantee of credit, except an application for an extension of a loan, shall be in writing, shall...
• California Financial Code Section 14952
  (a) The board of directors of a credit union shall establish the maximum amount that the credit union may lend to a member under 18...
• California Financial Code Section 14953
  (a) Any extension of credit in excess of the unsecured loan limit set by the board of directors pursuant to Section 15100 shall be secured...
• California Financial Code Section 14954
  For the purposes of this chapter, a person who is not an applicant for an extension of credit or the creation of an obligation with...
• California Financial Code Section 14955
  "Security" includes, but is not limited to, the following: (a) A note endorsed by any member of the credit union or by any other person....
• California Financial Code Section 14957
  Whenever the directors, the credit committee, or if applicable, the credit manager, deem any loan unsafe, they may require additional security to be given by...
• California Financial Code Section 14958
  A credit union may participate in guaranteed loan programs of the federal or state governments, subject to the limitations on loans set forth in this
• California Financial Code Section 14959
  (a) A credit union may participate in loans made to its members jointly with other credit unions, corporations or financial organizations. (b) A credit union...
• California Financial Code Section 14960
  (a) Any credit union that makes a refund anticipation loan to a covered borrower, as defined in Section 232 of Title 32 of the Code...
• California Financial Code Section 15001
  Every credit union may assess charges as approved by the board of directors for failure to meet punctually obligations to the credit union. Any late...
• California Financial Code Section 15050
  (a) For purposes of this section, "official" means a director, officer, or member of the supervisory committee or the credit committee of a credit union....
• California Financial Code Section 15051
  The board of directors shall declare the office of any director, officer, committee member, or the credit manager vacant if the person fails to reduce...
• California Financial Code Section 15100
  (a) The board of directors shall establish written policies which shall set forth the policies of the credit union with respect to any obligation that...
• California Financial Code Section 15101
  Notwithstanding the provisions of Section 15100, if a loan is made for educational purposes and such loan would cause the aggregate of loans to an...
• California Financial Code Section 15102
  (a) Notwithstanding Section 726 of the Code of Civil Procedure or any other provision of law to the contrary, a credit union, an affiliate of...
• California Financial Code Section 15103
  A credit union, or the agent of a credit union, that has received a notice pursuant to Section 7507.6 of the Business and Professions Code,...
• California Financial Code Section 15200
  Any credit union may, with the approval of the commissioner, merge with another credit union or with a central credit union.
• California Financial Code Section 15201
  (a) The merger shall be made pursuant to any plan agreed upon by the majority of the board of directors of each credit union joining...
• California Financial Code Section 15202
  (a) After the requirement of approval as provided in Section 15201 is satisfied, each credit union shall execute a certificate of merger as an officers'...
• California Financial Code Section 15203
  Each certificate of merger called for in Section 15202 shall be filed in the office of the Secretary of State. After the filing in the...
• California Financial Code Section 15204
  (a) Upon any merger effectuated as provided in this article, all property, property rights, and interests of the merged credit union shall vest in the...
• California Financial Code Section 15250
  (a) Whenever the board of directors of a credit union recommends by a vote of a majority of all its members the dissolution of the...
• California Financial Code Section 15251
  If the dissolution of the credit union is approved pursuant to subdivision (a) or (b) of Section 15250, the board of directors of the credit...
• California Financial Code Section 15252
  Promptly thereafter the president or vice president and secretary or assistant secretary, or a majority of the committee or the liquidating agent in charge of...
• California Financial Code Section 15253
  After a vote to dissolve a credit union no business may be carried on by the credit union except in the proper course of liquidation.
• California Financial Code Section 15254
  The committee or the liquidating agent in charge of liquidation may sue in the name and on behalf of the credit union, and may sell...
• California Financial Code Section 15255
  After determining that all known debts and liabilities of the credit union have been paid or adequately provided for, the committee or the liquidating agent...
• California Financial Code Section 15257
  When a credit union has completely wound up, all of its known debts and liabilities actually paid or adequately provided for or paid as far...
• California Financial Code Section 15258
  The certificate of dissolution shall be filed in the office of the Secretary of State and copies, certified by him, shall be filed in the...
• California Financial Code Section 15259
  At any time during the liquidation process, the committee or the liquidating agent in charge of liquidation may be relieved of their duties at the...
• California Financial Code Section 15260
  Where the commissioner finds that on the date of filing with the Secretary of State of the certificate of election to wind up and dissolve,...
• California Financial Code Section 15300
  A credit union may convert itself into a federal credit union by following the procedure contained in this article.
• California Financial Code Section 15301
  Upon recommendation of the board of directors the members of any credit union may by an affirmative majority vote of such members resolve to convert...
• California Financial Code Section 15302
  Within 10 days after the meeting or written vote at which the members determine to convert into a federal credit union, the credit union shall...
• California Financial Code Section 15303
  A certified copy of the certificate required by Section 15302 filed in the office of the Secretary of State is presumptive evidence of the holding...
• California Financial Code Section 15304
  After the meeting or the written vote of the members, the credit union shall take such action as is necessary to make it a federal...
• California Financial Code Section 15305
  At the time the conversion into a federal credit union becomes effective, the credit union ceases to be supervised by this state and all of...
• California Financial Code Section 15306
  The converted federal credit union shall have, hold, and enjoy the property mentioned in Section 15305 in its own right as fully and to the...
• California Financial Code Section 15350
  Upon recommendation of its board of directors, any federal credit union may convert into a credit union under the laws of this state by complying...
• California Financial Code Section 15351
  The officers and directors of the federal credit union shall be the officers and directors of the credit union after conversion takes effect, to hold...
• California Financial Code Section 15352
  The commissioner may conduct a joint audit of the federal credit union with federal auditors. Upon completion of such audit, he shall issue a certificate...
• California Financial Code Section 15353
  Copies of the minutes of the proceedings of the meeting of the members or the written ballot and the record of written vote of the...
• California Financial Code Section 15354
  The verified copies of the minutes of the meeting or the record of written vote, when filed as required by Section 15353, are presumptive evidence...
• California Financial Code Section 15355
  After an affirmative vote as provided in Section 15350, the federal credit union shall take or cause to be taken such action in the manner...
• California Financial Code Section 15356
  The directors of a credit union converted from a federal credit union may insert in the articles of incorporation the following statement: "This credit union...
• California Financial Code Section 15357
  Within 10 days after the filing of the articles of incorporation with the Secretary of State, there shall be filed, with the National Credit Union...
• California Financial Code Section 15358
  Upon the filing of the articles of incorporation with the Secretary of State and the issuance of a certificate by the commissioner authorizing the federal...
• California Financial Code Section 15359
  The converted credit union shall have, hold, and enjoy the property mentioned in Section 15358 in its own right as fully and to the same...
• California Financial Code Section 15400
  "Central credit union" means a credit union whose membership includes, but is not limited to, other credit unions, members of credit unions, credit union employees,...
• California Financial Code Section 15450
  Central credit unions may be organized and operated under this division. Each such credit union shall use the word "central" in its official name.
• California Financial Code Section 15451
  (a) A central credit union may, with the approval of the commissioner and under such regulations as he shall prescribe, admit to membership groups of...
• California Financial Code Section 16000
  This chapter may be cited as the "Foreign (Other State) Credit Union Law."
• California Financial Code Section 16001
  In this chapter: (a) "Branch business" means the business of issuing share accounts, certificates for funds, and share drafts, receiving deposits, paying checks, making loans...
• California Financial Code Section 16002
  Nothing in this chapter shall be deemed to authorize a foreign (other nation) credit union to transact business in this state.
• California Financial Code Section 16003
  No foreign (other state) credit union may establish or maintain a California branch office or California facility unless it is qualified to transact intrastate business...
• California Financial Code Section 16004
  No foreign (other state) credit union may establish a California branch office or California facility unless its deposit or share accounts are insured by the...
• California Financial Code Section 16005
  Each application filed with the commissioner under this chapter or under any regulation or order issued under this chapter shall be in the form, shall...
• California Financial Code Section 16006
  Fees shall be paid to and collected by the commissioner as follows: (a) The fee for an application by a foreign (other state) credit union...
• California Financial Code Section 16007
  (a) Not less than 30 days before a foreign (other state) credit union establishes a California branch office or a California facility, the foreign (other...
• California Financial Code Section 16008
  In administering the provisions of this chapter, the commissioner may share information with federal and home state regulators of foreign (other state) credit unions.
• California Financial Code Section 16009
  A foreign (other state) credit union that is licensed to establish an office shall post at a conspicuous place at the office a notice to...
• California Financial Code Section 16010
  No license shall be transferable or assignable.
• California Financial Code Section 16011
  Whenever a foreign (other state) credit union is licensed to establish more than one office, it shall designate one of its offices as its primary
• California Financial Code Section 16012
  Each foreign (other state) credit union that is licensed to establish an office shall conduct all of the business of the office in a single...
• California Financial Code Section 16013
  Whenever any provision of this chapter or of any regulation or order issued under this chapter which is applicable to or with respect to a...
• California Financial Code Section 16020
  (a) Except for the activities described in paragraph (2) of subdivision (c) of Section 16001, no foreign (other state) credit union shall transact business in...
• California Financial Code Section 16021
  (a) No foreign (other state) credit union shall establish or maintain a California branch office unless the commissioner shall have first approved its establishment and...
• California Financial Code Section 16022
  (a) If the commissioner finds all of the following with respect to an application by a foreign (other state) credit union for approval to establish...
• California Financial Code Section 16023
  The approval of an application for approval to establish a California branch office shall be revoked by operation of law if the applicant foreign (other...
• California Financial Code Section 16024
  (a) Within 30 days of establishing a California facility, a foreign (other state) credit union shall notify the commissioner in writing of its intent to...
• California Financial Code Section 16075
  Within 10 days of relocating a California branch office or California facility, a foreign (other state) credit union shall file a report with the commissioner...
• California Financial Code Section 16076
  Not less than 30 days before a foreign (other state) credit union discontinues a California branch office or California facility, it shall file a report...
• California Financial Code Section 16077
  Promptly after a foreign (other state) credit union relocates or discontinues a California branch office or California facility pursuant to this article, the foreign (other...
• California Financial Code Section 16100
  (a) A foreign (other state) credit union that has a license to establish and maintain an office in this state may engage in activities at...
• California Financial Code Section 16101
  (a) The following provisions of this division apply to a foreign (other state) credit union that maintains a California branch office or California facility with...
• California Financial Code Section 16102
  (a) Any foreign (other state) credit union that is authorized to and does maintain a California branch office or California facility is exempted from the...
• California Financial Code Section 16103
  (a) A foreign (other state) credit union that is licensed to establish and maintain an office or offices in this state shall keep the assets...
• California Financial Code Section 16150
  (a) The commissioner may at any time investigate into the affairs and examine the books, accounts, and other records of a foreign (other state) credit...
• California Financial Code Section 16151
  The commissioner may make any examination of a foreign (other state) credit union at any office of the commissioner. The commissioner may make an examination...
• California Financial Code Section 16152
  (a) Each foreign (other state) credit union shall, within 10 days after receipt or within any extended time that the commissioner may specify, file with...
• California Financial Code Section 16153
  A foreign (other state) credit union shall file with the commissioner any other report as the commissioner may from time to time require. Each report...
• California Financial Code Section 16154
  A foreign (other state) credit union that maintains a California branch office or California facility, if required by the commissioner, shall make, keep, and preserve,...
• California Financial Code Section 16200
  (a) The commissioner may bring an action in the name of the people of this state in the superior court to enjoin any violation of,...
• California Financial Code Section 16200.5
  (a) If the commissioner finds that any person has violated, or that there is reasonable cause to believe that any person is about to violate,...
• California Financial Code Section 16201
  If, after notice and hearing, the commissioner finds that any person has violated any provision of this chapter or of any regulation or order issued...
• California Financial Code Section 16202
  If, after notice and hearing, the commissioner finds any of the following with respect to a foreign (other state) credit union that is licensed to...
• California Financial Code Section 16203
  (a) If the commissioner finds that any of the factors set forth in Section 16202 is true with respect to any foreign (other state) credit...
• California Financial Code Section 16204
  Any foreign (other state) credit union whose license to maintain an office is suspended or revoked shall immediately surrender the license to the commissioner.
• California Financial Code Section 16205
  (a) Any foreign (other state) credit union to which an order is issued under Section 16202 or 16203 may apply to the commissioner to modify...
• California Financial Code Section 16206
  (a) If the commissioner finds that any of the factors set forth in Section 16202 is true with respect to any foreign (other state) credit...
• California Financial Code Section 16500
  This chapter may be cited as the "Foreign (Other Nation) Credit Union Law."
• California Financial Code Section 16501
  In this chapter: (a) "Agency," when used with respect to a foreign (other nation) credit union, means an office in this state at which the...
• California Financial Code Section 16502
  Nothing in this chapter shall apply to a foreign (other state) state credit union or be deemed to authorize a foreign (other state) state credit...
• California Financial Code Section 16503
  No foreign (other nation) credit union may establish a branch office unless its deposit or share accounts are insured by the National Credit Union Administration...
• California Financial Code Section 16504
  Each application filed with the commissioner under this chapter or under any regulation or order issued under this chapter shall be in the form, shall...
• California Financial Code Section 16505
  Fees shall be paid to and collected by the commissioner as follows: (a) The fee for filing with the commissioner an application by a foreign...
• California Financial Code Section 16506
  (a) (1) No foreign (other nation) credit union shall be issued a license to maintain an office unless it shall have first filed with the...
• California Financial Code Section 16507
  In administering the provisions of this chapter, the commissioner may share information with federal and home country regulators of foreign (other nation) credit unions.
• California Financial Code Section 16508
  No license shall be transferable or assignable.
• California Financial Code Section 16509
  A foreign (other nation) credit union that is licensed to establish an office shall post at a conspicuous place at the office a notice to...
• California Financial Code Section 16510
  Whenever a foreign (other nation) credit union is licensed to establish more than one office, it shall designate one of its offices as its primary
• California Financial Code Section 16511
  Each foreign (other nation) credit union that is licensed to establish an office shall conduct all of the business of the office in a single...
• California Financial Code Section 16512
  Whenever any provision of this chapter or of any regulation or order issued under this chapter that is applicable to or with respect to a...
• California Financial Code Section 16525
  (a) No foreign (other nation) credit union shall establish or maintain an office in this state at which it engages in representational functions unless it...
• California Financial Code Section 16526
  (a) No foreign (other nation) credit union shall establish or maintain a representative office unless the commissioner shall have first approved the establishment of the...
• California Financial Code Section 16527
  (a) No foreign (other nation) credit union that is licensed to maintain a representative office shall relocate the office unless the commissioner shall have first...
• California Financial Code Section 16528
  A foreign (other nation) credit union that is licensed to maintain a representative office may, subject to any regulations that the commissioner may prescribe, engage...
• California Financial Code Section 16529
  (a) (1) No foreign (other nation) credit union that is licensed to maintain a representative office shall close the office unless the commissioner shall have...
• California Financial Code Section 16530
  The approval of an application for approval to establish a representative office shall be revoked by operation of law if the applicant foreign (other nation)...
• California Financial Code Section 16550
  (a) No foreign (other nation) credit union shall transact business in this state except at a branch office or agency that it is licensed to...
• California Financial Code Section 16551
  No foreign (other nation) credit union shall be licensed to maintain a branch office or agency unless it is qualified to transact intrastate business in...
• California Financial Code Section 16552
  (a) No foreign (other nation) credit union shall establish or maintain a branch office or agency unless the commissioner shall have first approved its establishment...
• California Financial Code Section 16553
  The approval of an application for approval to establish a branch office or agency shall be revoked by operation of law if the applicant foreign...
• California Financial Code Section 16554
  (a) No foreign (other nation) credit union which is licensed to maintain a branch office or agency shall relocate the office unless the commissioner shall...
• California Financial Code Section 16555
  (a) (1) No foreign (other nation) credit union that is licensed to maintain a branch office or agency shall close the office unless the commissioner...
• California Financial Code Section 16600
  (a) A foreign (other nation) credit union that has a license to establish and maintain an office may engage in activities at the office as...
• California Financial Code Section 16601
  (a) A foreign (other nation) credit union may not expand its field of membership in this state without first obtaining the commissioner's approval. (b) An...
• California Financial Code Section 16602
  (a) The following provisions of this code apply to a foreign (other nation) credit union that maintains a branch office or agency with respect to...
• California Financial Code Section 16603
  (a) Any foreign (other nation) credit union that is authorized to and does maintain a branch office or agency is exempted from the restrictions of...
• California Financial Code Section 16604
  (a) A foreign (other nation) credit union which is licensed to establish and maintain an office or offices shall keep the assets of the offices...
• California Financial Code Section 16605
  (a) In this section: (1) "Adjusted liabilities," when used with respect to a foreign (other nation) credit union, means the liabilities of the foreign (other...
• California Financial Code Section 16607
  (a) In this section: (1) "Adjusted liabilities," when used with respect to a foreign (other nation) credit union that is licensed to maintain a branch...
• California Financial Code Section 16700
  (a) The commissioner may at any time investigate into the affairs and examine the books, accounts, and other records of a foreign (other nation) credit...
• California Financial Code Section 16701
  The commissioner may make an examination of a foreign (other nation) credit union at any office of the commissioner. The commissioner may make an examination...
• California Financial Code Section 16702
  (a) Each foreign (other nation) credit union shall, within 10 days after receipt or within any extended time that the commissioner may specify, file with...
• California Financial Code Section 16703
  A foreign (other nation) credit union shall file with the commissioner any other report as the commissioner may from time to time require. Each report...
• California Financial Code Section 16704
  Each foreign (other nation) credit union that maintains an office shall make, keep, and preserve at that office, or at any other place that the...
• California Financial Code Section 16800
  (a) A foreign (other nation) credit union that is licensed to maintain an office may voluntarily surrender the license for the office by filing the...
• California Financial Code Section 16900
  (a) The commissioner may bring an action in the name of the people of this state in the superior court to enjoin any violation of,...
• California Financial Code Section 16900.5
  (a) If the commissioner finds that any person has violated, or that there is reasonable cause to believe that any person is about to violate,...
• California Financial Code Section 16901
  If, after notice and hearing, the commissioner finds that any person has violated any provision of this chapter or of any regulation or order issued...
• California Financial Code Section 16902
  If, after notice and hearing, the commissioner finds any of the following with respect to a foreign (other nation) credit union that is licensed to...
• California Financial Code Section 16903
  (a) If the commissioner finds that any of the factors set forth in Section 16902 is true with respect to any foreign (other nation) credit...
• California Financial Code Section 16904
  Any foreign (other nation) credit union whose license to maintain an office is suspended or revoked shall immediately surrender the license to the commissioner.
• California Financial Code Section 16905
  (a) Any foreign (other nation) credit union to which an order is issued under Section 16902 and 16903 may apply to the commissioner to modify...
• California Financial Code Section 16906
  (a) If the commissioner finds that any of the factors set forth in Section 16902 is true with respect to any foreign (other nation) credit...
• California Financial Code Section 17000
  This division is known and may be cited as the "Escrow Law."
• California Financial Code Section 17001
  Unless the context otherwise requires, the definitions set forth in this chapter govern the construction of this division.
• California Financial Code Section 17002
  "Commissioner" means the Commissioner of Corporations.
• California Financial Code Section 17002.5
  "Person" means, in addition to the singular, persons, group of persons, co-operative, association, company, firm, partnership, corporation, limited liability company, or other legal entity.
• California Financial Code Section 17003
  (a) "Escrow" means any transaction in which one person, for the purpose of effecting the sale, transfer, encumbering, or leasing of real or personal property...
• California Financial Code Section 17004
  "Escrow agent" means any person engaged in the business of receiving escrows for deposit or delivery.
• California Financial Code Section 17004.5
  "Internet escrow agent" means any person engaged in the business of receiving escrows for deposit or delivery over the Internet.
• California Financial Code Section 17005
  "Licensee" means any person holding a valid, unrevoked license as an escrow agent.
• California Financial Code Section 17005.1
  "Joint control agent" means a person engaging in the business of receiving money or other property for disbursal or use in payment of the cost...
• California Financial Code Section 17005.2
  "Business location" and "business office location" mean a facility or other place of business where a person engages in the business of receiving an escrow...
• California Financial Code Section 17005.3
  "Customer contact center" means a facility operated by an Internet escrow agent that exists solely for the purpose of responding to customer electronic messages and...
• California Financial Code Section 17005.4
  "Person subject to this division" means any person undertaking the performance of escrow agent services. Unless specifically exempted, as in Section 17006, however, this definition...
• California Financial Code Section 17005.5
  "Within this state" means any activity of a person relating to receiving escrows for deposit or delivery that originates from this state and is directed...
• California Financial Code Section 17005.6
  Except as provided for in Section 17004, "escrow agent" as used in this division includes joint control agents and Internet escrow agents.
• California Financial Code Section 17006
  (a) This division does not apply to: (1) Any person doing business under any law of this state or the United States relating to banks,...
• California Financial Code Section 17006.5
  In any proceeding under this law, the burden of proving an exemption or an exception from a definition is upon the person claiming it.
• California Financial Code Section 17008
  No foreign corporation shall transact any escrow business in this State without first complying with all the requirements of this division, nor until it has...
• California Financial Code Section 17009
  The commissioner shall forward by prepaid registered mail a copy of every paper served under this chapter, to the secretary of the corporation at its...
• California Financial Code Section 17010
  The commissioner shall collect from the plaintiff at the time of service, the sum of two dollars ($2) for each copy of process served on...
• California Financial Code Section 17200
  It shall be unlawful for any person to engage in business as an escrow agent within this state except by means of a corporation duly...
• California Financial Code Section 17200.8
  (a) Within the organization of each escrow agent corporation, either as an owner, officer, or employee, there shall be one or more persons possessing a...
• California Financial Code Section 17201
  An application for a license as an escrow agent shall be in writing and in such form as is prescribed by the commissioner. The application...
• California Financial Code Section 17202
  (a) At the time of filing an application for an escrow agent' s license, the applicant shall deposit with the commissioner a bond satisfactory to...
• California Financial Code Section 17202.1
  An applicant for an escrow agent's license or a licensee may, in lieu of and subject to the same conditions as the bond required by...
• California Financial Code Section 17203
  The bond of an escrow agent shall be conditioned that the licensee will faithfully conform to and abide by the provisions of this division and...
• California Financial Code Section 17203.1
  (a) All officers, directors, trustees, and employees of an escrow agent, whether or not compensated, who have access to money or negotiable securities belonging to...
• California Financial Code Section 17205
  No action may be brought on an escrow agent's bond by any person after the expiration of two years from the time when the act...
• California Financial Code Section 17206
  When an action is commenced on an escrow agent's bond the commissioner may require the filing of a new bond, and immediately upon the recovery...
• California Financial Code Section 17207
  The commissioner shall charge and collect the following fees and assessments: (a) For filing an application for an escrow agent's license, six hundred twenty-five dollars...
• California Financial Code Section 17207
  The commissioner shall charge and collect the following fees and assessments: (a) For filing an application for an escrow agent's license, six hundred twenty-five dollars...
• California Financial Code Section 17208
  All money received by the commissioner shall be paid by him or her into the State Treasury to the credit of the State Corporations Fund...
• California Financial Code Section 17209
  An application for a license as an escrow agent shall be signed and verified by an authorized officer of the applicant, and such application shall...
• California Financial Code Section 17209.1
  Upon the receipt of a proper and complete application for license, and all required fees, the commissioner shall immediately examine and investigate all facts connected...
• California Financial Code Section 17209.2
  The commissioner may or may not require an applicant to submit to an appropriate hearing. If a hearing is held the commissioner shall, on or...
• California Financial Code Section 17209.3
  The commissioner may refuse to issue any license being applied for, and shall refuse to issue any license being applied for if upon the commissioner's...
• California Financial Code Section 17209.4
  The license shall state whether the licensee is licensed as an escrow agent or joint control agent.
• California Financial Code Section 17210
  (a) An escrow agent licensed on or after January 1, 1986, shall maintain at all times a tangible net worth of fifty thousand dollars ($50,000),...
• California Financial Code Section 17210.1
  The license shall be kept conspicuously posted in all places of business of the licensee.
• California Financial Code Section 17210.2
  (a) No escrow agent shall disseminate, or cause or permit to be disseminated, in any manner whatsoever, any statement or representation which is false, misleading,...
• California Financial Code Section 17212.1
  All licensees shall notify the commissioner of any changes in shareholders, directors, officers, trustees, managers, and other persons participating in the escrow business directly or...
• California Financial Code Section 17213
  (a) An escrow agent shall not transact business pursuant to this division under any other name than that set forth in the articles of incorporation...
• California Financial Code Section 17213.1
  (a) An escrow agent's business shall not be removed from the premises or address shown on the license without the prior approval of the commissioner,...
• California Financial Code Section 17213.2
  The commissioner may order a licensed escrow agent which opens a branch office or changes its business location or locations without first obtaining the approval...
• California Financial Code Section 17213.5
  Licensees of this division shall be entitled to establish additional business office locations by compliance with all of the following: (a) Filing with the commissioner...
• California Financial Code Section 17214
  (a) There is established in the Department of Corporations an Escrow Law Advisory Committee consisting of 11 members. The members shall consist of the commissioner...
• California Financial Code Section 17215
  Whenever the commissioner issues a license or order under this division, the commissioner may impose conditions that are necessary and appropriate to carry out the...
• California Financial Code Section 17300
  "Fidelity Corporation" means the Escrow Agents' Fidelity Corporation.
• California Financial Code Section 17301
  "Member" means any person licensed under this division who is required by Section 17312 to be a member of Fidelity Corporation.
• California Financial Code Section 17302
  "Trust obligation" means: (a) All money and property deposited with a member within the State of California in an escrow or joint control transaction. (b)...
• California Financial Code Section 17303
  "Commissioner" means the Commissioner of Corporations.
• California Financial Code Section 17304
  "Loss," within the meaning of this chapter, means the loss of trust obligations held by a member within the State of California as a result...
• California Financial Code Section 17305
  "Monthly average escrow liability," as used in this chapter, means the average escrow liability for the 12-month period as reported in the most recent report...
• California Financial Code Section 17310
  (a) It shall be the purpose of Fidelity Corporation to indemnify a member within the State of California against loss, subject to the limitations set...
• California Financial Code Section 17311
  (a) Persons licensed pursuant to this division shall maintain a corporation under the Nonprofit Mutual Benefit Corporation Law (Part 3 (commencing with Section 7110) of...
• California Financial Code Section 17312
  (a) Each person licensed pursuant to this division who is engaged in the business of receiving escrows specified in subdivision (c) and whose escrow business...
• California Financial Code Section 17313
  The commissioner shall review and approve the articles of incorporation and bylaws of Fidelity Corporation before they are filed with the Secretary of State.
• California Financial Code Section 17313.1
  The fiscal year of Fidelity Corporation shall commence on July 1 of each year.
• California Financial Code Section 17314
  (a) Fidelity Corporation shall pay a member for loss of trust obligations subject to the limitations set forth in this chapter. Fidelity Corporation shall pay...
• California Financial Code Section 17314.1
  (a) Notwithstanding any other provision of this article, Fidelity Corporation shall not be obligated to pay any claim made by a member unless (1) the...
• California Financial Code Section 17314.2
  Claims filed prior to the effective date of this chapter shall be governed by the provisions in effect when the loss occurred.
• California Financial Code Section 17314.3
  (a) A deductible shall apply to each loss suffered by a member in the amount of five thousand dollars ($5,000), plus 5 percent of the...
• California Financial Code Section 17315
  The commissioner may establish rules which are reasonable and necessary to carry out the provisions of this chapter.
• California Financial Code Section 17320
  Fidelity Corporation shall establish and maintain the following funds for payment of claims and for payment of costs of administration: the membership fund, the operations...
• California Financial Code Section 17321
  Fidelity Corporation shall bill and collect from each member an annual premium that in the aggregate shall consist of assessments for the operations fund and...
• California Financial Code Section 17321.1
  Fidelity Corporation shall levy a special assessment against its members whenever: (a) Deemed necessary by the board of directors in the event of any extraordinary...
• California Financial Code Section 17321.2
  Fidelity Corporation shall be entitled to collect late fees as specified in Fidelity Corporation's bylaws for any late payment of assessments under Section 17320, 17321,...
• California Financial Code Section 17322
  Fidelity Corporation shall report to the commissioner each levy of assessment within 10 business days after the levy.
• California Financial Code Section 17323
  (a) In the event any member fails to pay an assessment when due, Fidelity Corporation shall by written demand addressed to the member request the...
• California Financial Code Section 17324
  Any reduction in the membership fund caused by payment of an extraordinary expense pursuant to subdivision (a) of Section 17320 or payment of claims pursuant...
• California Financial Code Section 17330
  Any member or successor in interest who suffers a loss may file a claim with Fidelity Corporation for the amount of the loss.
• California Financial Code Section 17331
  (a) An applicant applying for licensure as an escrow agent under this division is required to apply for a Fidelity Corporation Certificate, prepared and issued...
• California Financial Code Section 17331.1
  (a) Any person not previously issued a certificate must, upon employment with an escrow agent within this state, apply to Fidelity Corporation for a certificate....
• California Financial Code Section 17331.2
  (a) Fidelity Corporation shall deny the application for a certificate or revoke the certificate of any person, upon any of the following grounds: (1) The...
• California Financial Code Section 17331.3
  (a) Notice to the person, and to the member with whom the person is employed, of the decision to deny an application for or to...
• California Financial Code Section 17332
  When either Fidelity Corporation or the insurer providing the fidelity bond or insurance policy, if any, under Section 17310, or both, pay an obligation on...
• California Financial Code Section 17333
  The commissioner may forthwith upon written notice and order take possession of the property and business of Fidelity Corporation and retain possession until Fidelity Corporation...
• California Financial Code Section 17334
  Whenever the commissioner has taken possession of the property and business of Fidelity Corporation, Fidelity Corporation within 10 business days after the taking, if it...
• California Financial Code Section 17335
  An appeal may be taken from the judgment of the court by the commissioner or by Fidelity Corporation in the manner provided by law for...
• California Financial Code Section 17336
  (a) Fidelity Corporation shall have independent authority to investigate claims filed by members pursuant to Section 17330. (b) Fidelity Corporation, upon submitting written notice to...
• California Financial Code Section 17337
  Fidelity Corporation may invest its funds only as provided by rules of the commissioner adopted with a view to preserving reasonable liquidity. Upon request of...
• California Financial Code Section 17339
  Prior to incurring any extraordinary or nonrecurring expense, Fidelity Corporation shall first obtain the written consent of the commissioner.
• California Financial Code Section 17340
  In the event the board of directors of Fidelity Corporation deem it necessary and prudent to raise additional moneys for payment of claims or expenses...
• California Financial Code Section 17341
  The commissioner shall give prompt notice to Fidelity Corporation when the commissioner takes possession of the property and business of a member and shall give...
• California Financial Code Section 17342
  Memberships issued by Fidelity Corporation shall be nontransferable and shall be exempt from the provisions of the Corporate Securities Law of 1968.
• California Financial Code Section 17343
  No provision of the Insurance Code shall apply to Fidelity Corporation.
• California Financial Code Section 17344
  The operation of Fidelity Corporation shall at all times be subject to the regulation of the commissioner and the commissioner's duly designated representatives. The commissioner...
• California Financial Code Section 17345
  Any member aggrieved by any action or decision of Fidelity Corporation may appeal to the commissioner within 30 days from the action or decision, except...
• California Financial Code Section 17345.1
  (a) A member or successor in interest aggrieved by any action or decision of Fidelity Corporation may file a written request for a hearing with...
• California Financial Code Section 17346
  (a) Fidelity Corporation and its members shall not advertise, print, display, publish, distribute, or broadcast, or cause or permit to be advertised, printed, displayed, published,...
• California Financial Code Section 17347
  (a) The Secretary of State shall not file articles for the incorporation of Fidelity Corporation or an amendment to the articles unless the commissioner has...
• California Financial Code Section 17348
  In order to permit Fidelity Corporation to fulfill its obligation under this chapter, the commissioner shall furnish a list of all persons licensed under this...
• California Financial Code Section 17349
  If Fidelity Corporation is dissolved, subject to the approval of the commissioner, the net assets after settling all liabilities shall be distributed to the members...
• California Financial Code Section 17350
  All costs and expenses incurred by the commissioner in the administration of this chapter shall be paid to the commissioner by Fidelity Corporation. The limitation...
• California Financial Code Section 17400
  The commissioner may from time to time make, amend, and rescind the rules, forms, and orders that are necessary to carry out the provisions of...
• California Financial Code Section 17402
  No person subject to this division or any officer thereof shall advertise in any manner or publish any statement of its capital, other than amounts...
• California Financial Code Section 17403
  (a) No person subject to this division shall issue, circulate, or publish any advertisement by any means of communication, or make use of or circulate...
• California Financial Code Section 17403.1
  No person subject to this division shall describe as an escrow, whether orally, in writing, or electronically, any transaction that is not defined as such...
• California Financial Code Section 17403.2
  (a) No person subject to this division shall solicit or accept an escrow instruction or amended or supplemental escrow instruction containing any blank to be...
• California Financial Code Section 17403.3
  (a) At the time of execution a copy of each escrow instruction or amended or supplemental escrow instruction shall be delivered to all persons executing...
• California Financial Code Section 17403.4
  All written escrow instructions and all escrow instructions transmitted electronically over the Internet executed by a buyer or seller, whether prepared by a person subject...
• California Financial Code Section 17403.5
  (a) All records required by this chapter may be retained by an Internet escrow agent and provided to the commissioner in electronic format. (b) All...
• California Financial Code Section 17404
  Every person subject to this division shall keep and use in its business, books, accounts, and records which will properly enable the commissioner to determine...
• California Financial Code Section 17405
  (a) The business, accounts and records of every person performing as an escrow agent, whether required to be licensed under this division or not, are...
• California Financial Code Section 17405.1
  The cost of every inspection and examination of a licensee or other person subject to this division shall be paid to the commissioner by the...
• California Financial Code Section 17406
  (a) Each licensee shall submit to the commissioner, at the licensee's own expense, an audit report containing audited financial statements covering the calendar year or,...
• California Financial Code Section 17406.1
  (a) Whenever the reports and financial statements required pursuant to subdivision (a), (b), or (c) of Section 17406 are to be reported upon or certified...
• California Financial Code Section 17408
  (a) If any person subject to this division fails to make any report required by law or by the commissioner, the commissioner may immediately cause...
• California Financial Code Section 17409
  (a) All moneys deposited in escrow to be delivered upon the close of the escrow or upon any other contingency shall be deposited and maintained...
• California Financial Code Section 17409.1
  (a) Each person subject to this chapter shall maintain separate escrow trust accounts for each licensed location. Transfers between accounts are prohibited except by the...
• California Financial Code Section 17410
  (a) Escrow or trust funds are not subject to enforcement of a money judgment arising out of any claim against the licensee or person acting...
• California Financial Code Section 17411
  No person shall knowingly keep or cause to be kept any funds or money in any bank or state or federal savings and loan association...
• California Financial Code Section 17411.1
  "Trust funds" or "escrow accounts" as used in Sections 17409, 17410, and 17411 shall include all funds required to be held by an escrow agent...
• California Financial Code Section 17414
  (a) It is a violation for any person subject to this division or any director, stockholder, trustee, officer, agent, or employee of any such person...
• California Financial Code Section 17414.1
  (a) Any person who has been convicted of or pleaded nolo contendere to any crime specified in subdivision (b) within the past 10 years, or...
• California Financial Code Section 17414.2
  (a) In response to any written request by an escrow agent or by Fidelity Corporation, any bank, savings association, credit union, any other financial institution,...
• California Financial Code Section 17415
  (a) If the commissioner, as a result of any examination or from any report made to him or her, shall find that any person subject...
• California Financial Code Section 17416
  Whenever in the opinion of the commissioner any person, except as named in Section 17006, is engaged, either actually or through subterfuge, in the business...
• California Financial Code Section 17419
  On and after January 1, 1992, any person seeking employment with an escrow agent shall complete an employment application on or before the first day...
• California Financial Code Section 17420
  Except for the normal compensation of his own employees, it shall be a violation of this division for any person subject to this division to...
• California Financial Code Section 17421
  Notwithstanding the provisions of Section 17420, a disbursal, other than for a fee, commission or compensation may be advanced or paid out prior to the...
• California Financial Code Section 17421.5
  (a) Notwithstanding Section 17420, a licensee may charge a fee for administering an escrow that has been postponed for at least two months from the...
• California Financial Code Section 17422
  A joint control agent, unless acting pursuant to written instructions of his principals, shall not disburse funds for the payment of the cost of labor,...
• California Financial Code Section 17423
  (a) The commissioner may, after appropriate notice and opportunity for hearing, by order, censure or suspend for a period not exceeding 12 months, or bar...
• California Financial Code Section 17423.1
  (a) (1) Whenever the commissioner takes any enforcement or disciplinary action pursuant to Section 17423, upon the action becoming final the commissioner shall notify the...
• California Financial Code Section 17424
  (a) For any licensee, a disciplinary action taken by the State of California, another state, an agency of the federal government, or another country for...
• California Financial Code Section 17425
  Any person subject to this division or any director, stockholder, trustee, officer, agent, or employee of that person who violates any provision of the federal...
• California Financial Code Section 17600
  (a) An escrow agent's license remains in effect until surrendered, revoked, or suspended. (b) A licensee that ceases to engage in the business regulated by...
• California Financial Code Section 17601
  If the commissioner has reason to believe that any escrow agent is violating the provisions of this division, the commissioner may investigate the escrow agent's...
• California Financial Code Section 17602
  If it appears to the commissioner that any licensed escrow agent has violated its articles of incorporation, or any law or rule binding upon it,...
• California Financial Code Section 17602.5
  If any licensed escrow agent fails to make any reports required by law or by the commissioner within ten (10) days from the day designated...
• California Financial Code Section 17603
  If it appears to the commissioner that any licensed escrow agent is conducting business in an unsafe or injurious manner, the commissioner shall, by written...
• California Financial Code Section 17604
  No order issued pursuant to Sections 17602 or 17603 may become final except after notice to any licensed escrow agent affected thereby of the intention...
• California Financial Code Section 17605
  The licensed escrow agent has ten (10) days after an order is made final in which to commence action to restrain enforcement of such order,...
• California Financial Code Section 17606
  The commissioner may immediately revoke by order the escrow agent's license if the licensee fails to comply with any order, unless the escrow agent secures...
• California Financial Code Section 17606.1
  The license of an escrow agent shall be deemed revoked upon the completion or closure of a court approved liquidation of the business of the...
• California Financial Code Section 17607
  (a) Whenever it appears to the commissioner that any person has engaged or is about to engage in any act or practice constituting a violation...
• California Financial Code Section 17608
  The commissioner may, after notice and a reasonable opportunity to be heard, suspend or revoke any license if he finds that: (a) The licensee has...
• California Financial Code Section 17609
  The revocation, suspension, surrender or expiration of an escrow agent's license does not impair or affect pre-existing escrows lawfully contracted, but nothing contained in this...
• California Financial Code Section 17609.1
  The power of investigation and examination by the commissioner is not terminated by the surrender, suspension, or revocation of any license issued by him.
• California Financial Code Section 17609.2
  Whenever the commissioner deems it necessary for the general welfare of the public, the commissioner has continuous authority to exercise the powers set forth in...
• California Financial Code Section 17610
  The commissioner, and all persons designated by him, may administer oaths, take the testimony of witnesses, and issue subpenas requiring the attendance of witnesses and...
• California Financial Code Section 17611
  (a) The commissioner may make such investigations as he or she deems necessary to determine whether any person has violated or is about to violate...
• California Financial Code Section 17612
  The authority to make or conduct any examination, investigation, or hearing, including the authority to administer oaths and to subpena witnesses, and to take their...
• California Financial Code Section 17613
  All hearings provided for in this division shall be conducted in accordance with the provisions of Chapter 5, Part 1, Division 3, Title 2, of...
• California Financial Code Section 17614
  Every order, decision, license or other official act of the commissioner is subject to review, in accordance with law.
• California Financial Code Section 17621
  Whenever it appears to the commissioner that any escrow agent subject to this division: (a) Is in an insolvent condition; (b) Is conducting escrow business...
• California Financial Code Section 17622
  Whenever the commissioner has taken possession of any licensee, such licensee, within 10 days after such taking, if it deems it is aggrieved thereby, may...
• California Financial Code Section 17623
  An appeal from a judgment enjoining the commissioner from further proceedings and directing the commissioner to surrender the business, property, and assets to the licensee...
• California Financial Code Section 17625
  If the commissioner's demand for the possession of the property, business and assets is not complied with within 24 hours after service of the demand,...
• California Financial Code Section 17626
  When the commissioner takes possession of the property, business and assets of any licensee, such licensee or the president and secretary of such licensee shall...
• California Financial Code Section 17627
  The commissioner may issue subpoenas and require the attendance of parties for examination under this article as provided for in this chapter.
• California Financial Code Section 17628
  When the commissioner takes possession of the business, property, and assets of a licensee, he may appoint a custodian. The commissioner may require a good...
• California Financial Code Section 17629
  When the commissioner takes possession of the property, business, and assets of a licensee, he may collect all money due to such licensee and give...
• California Financial Code Section 17630
  If any facts occur which would entitle the commissioner under Section 17621 to take possession of the property, business and assets of a licensee the...
• California Financial Code Section 17631
  Subject to the other provisions of this article, a conservator, while in possession of the property, business and assets of a licensee, has the same...
• California Financial Code Section 17632
  Upon appointing a conservator the commissioner shall cause to be made and completed at the earliest possible date such an examination of the affairs of...
• California Financial Code Section 17633
  A conservator, while in possession of the property, business and assets of a licensee, may call, upon the notice required by the licensee's bylaws, a...
• California Financial Code Section 17634
  If the commissioner becomes satisfied that it may be done safely and in the public interest, he may terminate the conservatorship and permit the licensee...
• California Financial Code Section 17635
  If at any time after taking possession of the property and business of a licensee it shall appear to the commissioner that it would be...
• California Financial Code Section 17636
  Whenever the commissioner has taken possession of the property and business of a licensee he may petition the superior court for the appointment of a...
• California Financial Code Section 17637
  The commissioner may appoint one or more special deputies to assist in the duties of liquidation and distribution under his direction and may also employ...
• California Financial Code Section 17638
  In liquidating the affairs of a licensee the commissioner may: (a) Collect all money due to, and claims of, the licensee and give receipt therefor....
• California Financial Code Section 17639
  After the issuance of an order of liquidation under Section 17635, any of the following transactions occurring within four months prior to the application for...
• California Financial Code Section 17640
  If the commissioner is in possession of the business, property, and assets of a licensee, whether or not he is liquidating the affairs of such...
• California Financial Code Section 17641
  Claims for damages resulting from the disaffirmance of an executory contract or lease by the commissioner may be filed and allowed. No claim of a...
• California Financial Code Section 17642
  When the commissioner determines to liquidate a licensee, he shall cause an inventory of all the assets of the licensee to be made in duplicate,...
• California Financial Code Section 17643
  When the commissioner determines to liquidate a licensee he shall cause notice to be given by publication once a week for four successive weeks in...
• California Financial Code Section 17644
  All claims, demands, or causes of action of creditors, and persons other than the parties to an escrow transaction against the licensee or against any...
• California Financial Code Section 17645
  Upon the expiration of the time fixed for the presentation of claims, the commissioner shall prepare in duplicate a full and complete schedule of all...
• California Financial Code Section 17646
  Not later than five days after the time of filing the schedule of claims with the court, written notice shall be mailed to all claimants...
• California Financial Code Section 17647
  Regardless of any law of this state, the judges of the superior court of the county in this state in which the principal office of...
• California Financial Code Section 17648
  If it appears improbable that anything can be realized from any property of the licensee and that the cost of maintaining, preserving, or protecting the...
• California Financial Code Section 17649
  For the purpose of executing and performing any of the powers and duties conferred upon him by this article, the commissioner may in the name...
• California Financial Code Section 17650
  If any real property of the licensee sold by the commissioner is located in a county other than the county in which the application to...
• California Financial Code Section 17651
  When the commissioner has (a) fully liquidated all claims other than claims of stockholders, and (b) made due provision for any and all known but...
• California Financial Code Section 17652
  Upon the payment of a final dividend in liquidation, the commissioner shall prepare and file with the court a full and final statement of the...
• California Financial Code Section 17653
  In making its order approving the commissioner's final statement of the liquidation of a licensee, the court shall determine the amounts of the liquidating dividends...
• California Financial Code Section 17654
  The order of the court approving the final statement on liquidation shall provide for the destruction or other disposition of the books and records of...
• California Financial Code Section 17700
  Any person who willfully violates any provision of this division, or who willfully violates any rule or order under this division, shall, upon conviction, be...
• California Financial Code Section 17701
  (a) Any person who violates any provision of this division, or who violates any rule or order under this division, shall be liable for a...
• California Financial Code