California Financial Code

§ 1757

FIN § 1757 Effective Jan 1, 2012Div. 1.1 · Ch. 20 · Art. 1

Statute text

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

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

(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 and the directors and executive officers of any controlling person of the bank 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.