Title FIN, California Fin. Code

(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 proposed location of the branch or agency. (2) The functions to be performed at the branch or agency. (3) Any additional informat…

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. The notice shall state the name of the association and the name of the city or community in which the branch is proposed to…

(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 of hearing. (b) If a hearing is to be held, the hearing shall not be held less than 10 days after the mailing of a notice of hearing under subdiv…

(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, the commissioner shall determine whether all of the following criteria are met: (1) The applicant’s policies, financial condition, and opera…

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 acquired pursuant to a merger, consolidation, conversion, or transfer of assets. (Repealed and added by Stats. 1983, Ch. 1091, Sec…

The commissioner may adopt rules and regulations relating to any action pertaining to branch offices and agencies regulated by this article. (Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)

(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 treasurer or chief financial officer. (b) The officers of any credit union may include other officers with titles and duties specified in …

If the bylaws so provide, the directors may elect the same person as secretary and treasurer or chief financial officer. (Amended by Stats. 1985, Ch. 951, Sec. 7.)

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. (Amended by Stats. 1985, Ch. 951, Sec. 8.)

Except as provided in Section 22696, any person who willfully violates any provision of this division, or who willfully violates any rule or order adopted pursuant to this division, shall, upon conviction, be punished by a fine of not more than ten thousand dollars ($10,000), by …

A violation of Division 9.5 (commencing with Section 22800) by a licensee shall constitute a violation of this division. (Added by Stats. 2018, Ch. 1011, Sec. 1. (SB 1235) Effective January 1, 2019.)

Notwithstanding any other law of this state, but subject to the provisions of Section 31550: (a) Any commercial bank, industrial bank, or trust company organized under the laws of this state may, with the prior approval of the commissioner, acquire and hold securities issued by a…

In this article, unless the context otherwise requires, “merger” means any of the mergers described in Section 4901. (Amended by Stats. 1995, Ch. 480, Sec. 166. Effective October 2, 1995.)

(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 state) state bank pursuant to (1) this article, (2) in case the surviving bank is a national banking association or…

(a) No provision of Division 1.1 (commencing with Section 1000), except the provisions of Chapter 19 (commencing with Section 1670) of Division 1.1, prohibits or restricts the merger of a California state bank or California industrial loan company. (b) No provision of Division 2 …

A merger is subject to the provisions of Section 1108 of the Corporations Code. (Amended by Stats. 1995, Ch. 480, Sec. 170. Effective October 2, 1995.)

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 of a merger of the type defined in Section 4880. (Amended by Stats. 1995, Ch. 480, Sec. 172. Effective October 2, 1995.)

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 by the commissioner to the disappearing depository corporation; and (2) File with the commiss…

(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 depository corporation and specifying the time at which the merger became effective. (b) A…

Every credit union shall have a supervisory committee of at least three persons, provided that the number of members on the committee is an odd number, each of whom shall be a member of the credit union and elected by the members of the credit union. In the alternative, the board…

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 thereof, or the credit manager, or any member of the board of directors, or any officer. (b) By a majority vote call a meeting of th…

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 shall exercise whatever efforts are necessary pursuant to Sections 14551 and 14553 to meet th…

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 directors, or any other officer, cause notice of a special meeting to be given to the members to take such action regarding the suspens…

(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 examination of the business and affairs of the credit union. The supervisory committee shall make a full report of the assets and liabilities, receipts an…

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 of directors, or as an employee of the credit union. (Amended by Stats. 1982, Ch. 691, Sec. 6.)

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 committee of a credit union vacant and shall direct the board of directors of the credit union to call a…

(a) The board of directors may, by resolution, establish an audit committee in lieu of a supervisory committee. An audit committee that meets all the requirements of this section shall be deemed to satisfy the requirements for a supervisory committee set forth in Sections 14550 t…

In this article, “distribution to its shareholders” has the meaning set forth in Corporations Code Section 166. (Added by Stats. 1977, Ch. 1164.)

No licensee shall, except with the prior approval of the commissioner, make, or obligate itself to make, any distribution to its shareholders. (Amended by Stats. 1996, Ch. 1064, Sec. 652. Effective January 1, 1997. Operative July 1, 1997.)

If the commissioner finds, with respect to an application for approval for a licensee to make, or to obligate itself to make, a distribution to its shareholders: (a) That for the applicant to make, or to obligate itself to make, the distribution will not endanger the applicant’s …

Notwithstanding the provisions of Section 31232, unless an application for approval for a licensee to make, or to obligate itself to make, a distribution to its shareholders is approved, denied, withdrawn, or abandoned within a period of 45 days after such application is filed wi…

In this article, unless the context otherwise requires, “merger” means any of the mergers described in Section 4908.02. (Added by Stats. 1996, Ch. 887, Sec. 46. Effective September 25, 1996.)

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 this article and the law of the surviving depository corporation’s domicile. (Amended by Stats. 1996, Ch.…

A merger is subject to the provisions of Section 1108 of the Corporations Code. (Added by Stats. 1996, Ch. 887, Sec. 46. Effective September 25, 1996.)

A disappearing or surviving depository corporation shall file an application for approval of a merger with the commissioner. (Amended by Stats. 1996, Ch. 1064, Sec. 521.3. Effective January 1, 1997. Operative July 1, 1997.)

A merger shall not become effective unless it has been approved by the commissioner. (Amended by Stats. 1996, Ch. 1064, Sec. 521.4. Effective January 1, 1997. Operative July 1, 1997.)

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) That the shareholders’ equity of the surviving depository corporation will be adequate and that the financial condition of t…

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 the merger. (Amended by Stats. 1996, Ch. 1064, Sec. 521.7. Effective January 1, 1997. Operative July 1, 1997.)

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 of the type defined in Section 4880. (Added by Stats. 1996, Ch. 887, Sec. 46. Effective September 25, 1996.)

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 by the commissioner to the disappearing depository corporation. (b) File with the commissione…

(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 depository corporation and specifying the time at which the merger became effective. (b) A…

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 in the alternative, a credit manager, to have general supervision of all obligations of members. The bylaws of the credit union shall provide that ei…

No member of the credit committee or the credit manager or any loan officer shall serve as a member of the supervisory committee. (Amended by Stats. 1998, Ch. 539, Sec. 24. Effective January 1, 1999.)

(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 of the credit committee, the credit manager, or a loan officer appointed as provided in this section. (2) Paragraph (1) does not apply to …

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, the extension of credit to any member and loans may be granted to such member within the limit of such extension of credit authorized b…

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 manager, or loan officer to the board of directors. (Amended by Stats. 1984, Ch. 789, Sec. 5.)