California Financial Code

§ 8158

FIN § 8158Div. 2 · Ch. 7 · Art. 4

Statute text

(a)The commissioner, or any department employee authorized by the commissioner, shall have free access to all books and records of an association, savings and loan holding company, and any of their subsidiaries that relate to the business of the association, holding company, or subsidiary, and to the books and records kept by any officer, agent, or employee that relate to the business of the association, holding company, or subsidiary.

(b)The commissioner, or any department employee authorized by the commissioner, may summon witnesses and administer oaths or affirmations in the examination of the directors, officers, agents, or employees of any association, savings and loan holding company, any of their subsidiaries, or any other person, in relation to their affairs, transactions, and conditions, and may require and compel the production of records, books, papers, contracts, or other documents by court order, if not voluntarily produced.

(c)This section applies to all parties designated in subdivisions (a) and (b) when an association is placed in conservatorship or receivership.

Legislative history

Amended by Stats. 1987, Ch. 730, Sec. 19.