DecisionDepot
California legal research

California Financial Code

§ 380

FIN § 380 Effective Jan 1, 2015Div. 1 · Ch. 3 · Art. 4

Statute text

View on leginfo.ca.gov
(a)The commissioner shall inform appropriate state and federal officials charged with the regulation of financial institutions or securities transactions of any enforcement actions, including, but not limited to, civil or criminal actions, cease and desist orders, license or authorization suspensions or revocations, or an open investigation.
(b)The commissioner shall inform appropriate state and federal officials charged with the regulation of financial institutions or securities transactions if it appears that any bank, bank holding company, savings association, savings and loan holding company, credit union, industrial loan company, industrial loan holding company, or other licensee of the department is conducting its business in a fraudulent, unsafe, unsound, or injurious manner, or has suffered or will suffer substantial financial loss or damage, and it appears to the commissioner that the information is relevant to the regulatory activities of the other agency.

Legislative history

Amended by Stats. 2014, Ch. 401, Sec. 25. (AB 2763) Effective January 1, 2015.

Source: California Financial Code § 380 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.