California Financial Code

§ 585

FIN § 585 Effective Jan 1, 2012Div. 1 · Ch. 6 · Art. 4

Statute text

If, after notice and an opportunity to be heard, the commissioner finds that any of the factors set forth in subdivision (a), any of the factors set forth in subdivision (b), and any of the factors set forth in subdivision (c) are true with respect to a subject person of a subject institution or holding company, the commissioner may issue an order suspending or removing the subject person from the subject person’s office, if any, with the subject institution or holding company, and prohibiting the subject person from participating in any manner in the conduct of the affairs of the subject institution or holding company without the approval of the commissioner:

(a)(1) That the subject person has, directly or indirectly, violated, or has caused a subject institution to violate, any provision of any:

(A)Division subject to the jurisdiction of the commissioner.

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Legislative history

Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.