Title FIN, California Fin. Code

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 or deny could not be made within 60 days, approve the application with any conditions reasonably necessary or advisable in the public in…

(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 after the date of the decision of a written request for a hearing by any person aggrieved by the decision, the commissio…

(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 commissioner in a prescribed form which shall require information with respect to the financial condition, ownership, operations, …

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) if the registrant’s association subsidiaries have total assets of up to one hundred million dollars ($100,000,000) or one thousand…

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, and shall send a copy to each association subsidiary in this state with respect to which the holding company has…

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 registration for that association as required by this article or whose holding company has failed to comply with (1) an order of a court made in…

(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 or appropriate and relevant to the jurisdiction and responsibilities of the commissioner under this division. Any savings and loa…

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 in Section 8200. (Amended by Stats. 1987, Ch. 1162, Sec. 9. Effective September 26, 1987.)

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 under Section 5750. (Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)

(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) In the case of a mutual association, the required vote of members to elect voluntarily to wind up and dissolve shall be by m…

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 holding company by causing a reorganized savings and loan association to be incorporated and organized as a stock associat…

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 of, the mutual association with respect to accounts and liabilities transferred shall have such accounts and rights s…

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 association. (Added by Stats. 1988, Ch. 718, Sec. 10.)

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 may disapprove any proposed mutual holding company formation and refuse to issue a certificate of autho…

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 at the holding company level to the extent that the capital exceeds adequate reserves as prescribed by state …

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 for an association, but may not issue or accept savings accounts or other deposits and the provisions of subdivision (…

Sections 5801, 5802, and 5803 shall not apply to a reorganization pursuant to this article. (Added by Stats. 1988, Ch. 718, Sec. 10.)

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 limitations not inconsistent with this article which are applicable to stock associations as provided in this division. (Ad…

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 subsidiary and, in addition, to other persons an amount of capital stock and securities convertible into capital stock which in the agg…

(a) The Pilot Program for Increased Access to Responsible Small Dollar Loans is hereby established. (b) For purposes of this article: (1) “Commissioner” means the Commissioner of Financial Protection and Innovation. (2) “Program” means the Pilot Program for Increased Access to Re…

(a) Any entity licensed under this chapter that wishes to participate in the program, that is in good standing with the commissioner and has no outstanding enforcement actions or deficiencies at the time of its application, shall file an application with the commissioner, in a ma…

Every entity approved by the commissioner to participate in the program shall file with the commissioner on or before March 15 an annual report consistent with Section 22159, separate from any other annual report the licensee may be required to file. (Added by Stats. 2013, Ch. 46…

Except as otherwise provided, nothing in this article shall exempt any licensee from any of the provisions of this division or Section 1632 of the Civil Code. (Added by Stats. 2013, Ch. 467, Sec. 2. (SB 318) Effective January 1, 2014. Repealed as of January 1, 2028, pursuant to S…

No licensee may offer or make a loan, nor impose any charges or fees pursuant to Section 22370, nor use a finder pursuant to Section 22371, without prior approval from the commissioner to participate in the program. (Added by Stats. 2013, Ch. 467, Sec. 2. (SB 318) Effective Janua…

(a) A loan made pursuant to this section shall comply with the following requirements: (1) The loan shall be unsecured. (2) Interest on the loan shall accrue on a simple-interest basis, through the application of a daily periodic rate to the actual unpaid principal balance each d…

(a) A licensee who is approved by the commissioner to participate in the program may use the services of one or more finders as provided in this article. In addition to the fees and costs authorized by subdivision (b) of Section 22375 and subdivision (a) of Section 22377, the com…

(a) A finder may perform one or more of the following services for a licensee at the finder’s physical location for business: (1) Distributing, circulating, using, or publishing preprinted brochures, flyers, factsheets, or other written materials relating to loans that the licens…

(a) At the time the finder receives or processes an application for a program loan, the finder shall provide the following statement to the applicant, on behalf of the licensee, in no smaller than 10-point type, and shall ask the applicant to acknowledge receipt of the statement …

(a) A finder may be compensated by the licensee pursuant to the written agreement between the licensee and the finder, as described in Section 22376. Compensation may be paid in accordance with a compensation schedule that is mutually agreed to by the licensee and the finder. (b)…

A licensee that utilizes the service of a finder shall do all of the following: (a) Notify the commissioner within 15 days of entering into a contract with a finder, on a form acceptable to the commissioner, regarding all of the following: (1) The name, business address, and lice…

All arrangements between a licensee and a finder shall be set forth in a written agreement between the parties. The agreement shall contain a provision establishing that the finder agrees to comply with all regulations that are established by the commissioner pursuant to this art…

(a) The commissioner may examine the operations of each licensee and each finder to ensure that the activities of the licensee and the finder are in compliance with this article. The costs of the commissioner’s examination of each finder shall be attributed to the commissioner’s …

Notwithstanding the requirements of Section 22102 and its implementing regulations, a licensee accepted to participate in the program may appoint one or more branch managers with responsibility for multiple branch locations, subject to approval by the commissioner, and a finding …

(a) Notwithstanding any other law, the commissioner shall examine each licensee that is accepted into the program, and each finder whose services were used by the licensee, at least once every 24 months. (b) Notwithstanding subdivision (a), the commissioner shall have the authori…

(a) On or before July 1, 2015, and annually on or before July 1, 2017, to July 1, 2026, inclusive, the commissioner shall post a report on the commissioner’s internet website summarizing utilization of the Pilot Program for Increased Access to Responsible Small Dollar Loans. The …

(a) The Pilot Program for Affordable Credit-Building Opportunities as described in Article 3.5 (commencing with Section 22348) is abolished. (b) All powers, duties, purposes, jurisdiction, responsibilities, and functions of the Commissioner of Corporations with respect to the for…

This article shall remain in effect only until January 1, 2028, and as of that date is repealed. (Amended by Stats. 2020, Ch. 174, Sec. 2. (AB 2196) Effective January 1, 2021. Repealed as of January 1, 2028, by its own provisions. Repeal affects Article 3.6, commencing with Secti…

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 in such form and containing such information as the commissioner may require and shall be accompanied by a fee of five thousand dollar…

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 prospective applicant in advance of the filing of an application for the purpose of discussing questions relating…

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) The character, reputation, and financial standing of the organizers or incorporators and their motives in seeking to organize t…

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 the application until he or she has ascertained to his or her satisfaction: (a) That the public convenience and advantage will be promoted by the…

(a) In this section, “control” has the meaning set forth in Section 1250. (b) For purposes of Section 1023, the commissioner may find: (1) That a proposed officer or director of a proposed bank or trust company does not have sufficient standing to afford reasonable promise of suc…

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 of an application and of the right of the applicant to meet with the commissioner regarding the reasons for such denial. The reques…

The commissioner may, in approving an application to organize and establish a corporation to engage in the banking or trust business pursuant to Section 1023, impose any conditions the commissioner deems reasonable or necessary or advisable in the public interest. (Amended by Sta…

(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 survive the merger or acquisition of control. (b) Sections 1020, 1021, 1022, 1023, and 1024 shall not apply to the formation of a bank pursuant to…

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 of the Commissioner of Financial Institutions under Division 1 (commencing with Section 99) or under any law of this state or of the Un…