California Financial Code

§ 1397

FIN § 1397 Effective Jan 1, 2012Div. 1.1 · Ch. 11 · Art. 3

Statute text

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 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.