California Financial Code

§ 1711

FIN § 1711 Effective Jan 1, 2012Div. 1.1 · Ch. 19 · Art. 4

Statute text

(a)In this section, “act” includes (without limitation) omission.

(b)For purposes of making findings on an application by an uninsured foreign (other state) bank for approval to establish a facility:

(1)The commissioner may, in the absence of credible evidence to the contrary, presume that the directors, executive officers, and any controlling person of the bank, the directors and executive officers of any controlling person of the bank, and the members of the proposed management of the facility are each of good character and sound financial standing.

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Legislative history

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