Title FIN, California Fin. Code

“Federal depository corporation” means a national banking association or a federal savings association. (Added by Stats. 1995, Ch. 480, Sec. 97. Effective October 2, 1995.)

“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). (Added by Stats. 1995, Ch. 480, Sec. 97. Effective October 2, 1995.)

“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 association that is organized under the laws of any state of the United States other than this state and, in the case of a federa…

In this division, “industrial loan company” means an industrial bank as defined in Section 111. (Amended by Stats. 2013, Ch. 334, Sec. 49. (SB 537) Effective January 1, 2014.)

“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 under the Federal Deposit Insurance Act (12 U.S.C. Sec. 1811 et seq.). (Added by Stats. 1995, Ch. 480, Sec.…

“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 respect to a state depository corporation, the law of the state of the United States under which the depository corporation is organized. …

“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 consolidation, includes a consolidation in which the resulting corporation is a federal depository corporation. The provisions o…

“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. (b) When used with respect to a federal savings association that is authorized to issue capital stock, a share of capital s…

“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 a share of guarantee stock. (b) When used with respect to a federal savings association that is authorized to issue capital…

“State depository corporation” means a state bank, a state savings association, or an industrial loan company. (Added by Stats. 1995, Ch. 480, Sec. 97. Effective October 2, 1995.)

“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 Insurance Corporation under the Federal Deposit Insurance Act (12 U.S.C. Sec. 1811 et seq.). (Added by Stats. 1995, Ch. 480, Sec. 97. Effective Oc…

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 requires another meaning. (Added by Stats. 1983, Ch. 1091, Sec. 2.)

For purposes of this division: (a) Any reference to regulations of the federal Office of the Comptroller of the Currency or the Federal Deposit Insurance Corporation shall also be deemed to include and refer to regulations adopted by the Federal Home Loan Bank Board or the Federa…

“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 director, officer, controlling person of the savings association. (c) A member of the immediate family of a director, off…

“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 (a), (b), or (c), as follows: (a) The savings association directly or indirec…

“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 other persons or entities, owns, controls, or holds with power to vote, or holds proxies representing, 10 percent or more of the …

“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, father, mother, children, brothers, sisters, and grandchildren. (b) The father, mother, brothers, and sisters of the person’s spouse. (…

“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 who has filed or is required to file an application to become a savings and loan holding company with …

“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 or special meeting or by the written consent (including consents by proxy) of a majority of the total votes of members outstanding at the close of…

(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 division, but excluding a federal association. (b) “Federal association” means a savings and loan association or …

“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 division. (b) An uncanceled annual license issued to an association under prior law which is valid on the effective da…

“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 are to be used for current transactions, and which has a maturity at the time of issuance of not exceeding nine months, exclusive of days …

“Commissioner” means the Commissioner of Financial Protection and Innovation. (Amended by Stats. 2022, Ch. 452, Sec. 108. (SB 1498) Effective January 1, 2023.)

“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. The term does not necessarily mean a municipal corporation or other political subdivision. A community need not be li…

“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 consumer credit, but does not include credit extended in connection with credit cards or bona fide overdraft loans. (A…

“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 and debenture, which is commonly regarded as a debt security and is not predominantly speculative in nature. A security …

“Department” means the Department of Financial Protection and Innovation. (Amended by Stats. 2022, Ch. 452, Sec. 109. (SB 1498) Effective January 1, 2023.)

“Financial institution” means a thrift institution, commercial bank, or trust company. (Added by Stats. 1983, Ch. 1091, Sec. 2.)

“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 generally accepted accounting principles, equal to or greater than the aggregate amount of liabilities of the association to its cre…

“Mutual association” means an association for which the articles of incorporation do not authorize the issuance of capital stock. (Added by Stats. 1983, Ch. 1091, Sec. 2.)

“Member” means a person holding a savings account of a mutual association. A joint and survivorship or other multiple owner constitutes a single membership. (Added by Stats. 1983, Ch. 1091, Sec. 2.)

“Mutual capital certificate” means a certificate evidencing an investment in a mutual association and issued pursuant to provisions of this division. (Added by Stats. 1983, Ch. 1091, Sec. 2.)

“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., Sec. 1823i) and regulations promulgated thereunder by the Federal Deposit Insurance Corporation. (Amended by Stats. 199…

“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 organization, group or entity, whether incorporated or not. (Amended by St…

“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: (a) A structure or structures designed or used primarily for residential rather than nonresidential purposes and consisting of mo…

“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 dwelling units. (Added by Stats. 1985, Ch. 983, Sec. 1.5. Effective September 26, 1985.)

“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 defined pursuant to Section 658 of the Civil Code. (b) The security interest of the association may be enforced as a real estate mortgage, deed of…

“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 be referred to as a deposit. For the purposes of Sections 6661, 6662, and 6663 and Article 4 (commencing with Section 6725) through Ar…

“Savings bank” means a savings bank organized under this division. (Added by Stats. 1983, Ch. 1091, Sec. 2.)

“Savings institution” means a financial institution as defined in Section 5102. (Added by Stats. 1984, Ch. 868, Sec. 2.5.)

“Savings liability” means the aggregate amount of savings accounts of depositors, including interest credited to the accounts, less redemptions and withdrawals. (Added by Stats. 1983, Ch. 1091, Sec. 2.)

“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 finance subsidiary in accordance with the requirements of 12 C.F.R. 563.132, in which at least 80 percent of the shares of …

“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) Paid-in surplus. (d) Retained earnings. (e) Pledged savings accounts of a mutual association with the approval of th…

“Stock association” means an association for which the articles of incorporation authorize the issuance of capital stock. (Added by Stats. 1983, Ch. 1091, Sec. 2.)

“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 pursuant to the provisions of this division. (Added by Stats. 1983, Ch. 1091, Sec. 2.)

“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 or federal credit union, an industrial loan company, and a supervised thrift and residential financing i…