California Financial Code

§ 1390

FIN § 1390 Effective Jan 1, 2012Div. 1.1 · Ch. 11 · Art. 2

Statute text

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 activity or that the agency arrangement is inconsistent with safe and sound banking practices, the commissioner may order the California state bank to terminate the agency arrangement.

Legislative history

Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.