California Financial Code

§ 6556

FIN § 6556Div. 2 · Ch. 4 · Art. 2

Statute text

(a)Upon review of the application for a branch office or agency and after a hearing on the branch application, if one is deemed necessary, the commissioner shall determine whether all of the following criteria are met:

(1)The applicant’s policies, financial condition, and operations afford no basis for supervisory objection.

(2)The proposed branch office or agency will be opened within a reasonable time after approval, as determined by the commissioner.

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Legislative history

Amended by Stats. 1987, Ch. 730, Sec. 13.