SECTIONS 250-263 - California Statutes

FINANCIAL CODE

SECTION 250-263

250. The commissioner may have an office in the City of Sacramento,
the City of Los Angeles, the City of San Diego, the City and County
of San Francisco, or any other location in the state that he or she
considers appropriate. The commissioner shall provide at the expense
of the department such office space, furniture, and equipment as may
be necessary or convenient for the transaction of the business of the
department.

250.5. There is in the Department of Financial Institutions, the
Division of Credit Unions. The Division of Credit Unions has charge
of the execution of the laws of this state relating to credit unions
and to the credit union business.

251. The department may expend moneys in accordance with law for
the necessary travel expenses of officers and employees of the
department while traveling in the line of their duties either within
or without the State.

252. The commissioner shall adopt and keep an official seal. Papers
executed by the commissioner in his or her official capacity
pursuant to law and bearing the seal, or copies thereof certified by
him or her, shall be received in evidence in like manner as the
original and may be recorded in the same manner and with the same
effect as a deed regularly acknowledged.

253. (a) Whenever it is necessary for the commissioner to approve
any instrument and to affix his or her official seal thereto, the
commissioner shall charge a fee of twenty-five dollars ($25)
therefor.
(b) Whenever it is proper for the department to furnish a copy of
any paper that has been filed therein and to certify to the paper,
the commissioner may charge twenty-five cents ($0.25) for each page
copied.
(c) Whenever the commissioner is required or requested to certify
copies of documents, the commissioner may charge a fee of twenty-five
dollars ($25) for certifying the copied documents and for affixing
his or her official seal.

255. Official reports made by the commissioner and verified reports
of an examination made by the commissioner, exclusively or in
conjunction with or with assistance from any agency of the United
States, of a state of the United States, or of a foreign nation are
prima facie evidence of the facts stated in the reports for all
purposes.

258. At least once each month, the commissioner shall issue and
disseminate as the commissioner deems appropriate a bulletin
containing the following information:
(a) Information regarding any of the following actions taken since
issuance of the previous bulletin:
(1) The filing, approval, or denial under Chapter 3 (commencing
with Section 350) of an application for authority to organize a
California state bank, or the issuance under Chapter 3 of a
certificate of authority to a California state bank.
(2) The filing, approval, or denial under Article 1 (commencing
with Section 5400) of Chapter 2 of Division 2 of an application for
the issuance of an organizing permit for the organization of a
California savings association, or for the issuance under Article 2
(commencing with Section 5500) of Chapter 2 of Division 2 of a
certificate of authority to a California savings association.
(3) The filing, approval, or denial under Article 2 (commencing
with Section 14150) of Chapter 2 of Division 5 of an application for
a certificate to act as a credit union, or the issuance of a
certificate to engage in the business of a credit union.
(4) The filing, approval, or denial under Chapter 14 (commencing
with Section 1800), Chapter 14A (commencing with Section 1851),
Division 7 (commencing with Section 18000), Division 15 (commencing
with Section 31000), or Division 16 (commencing with Section 33000)
of an application for a license to engage in business, or the
issuance under any of those laws of a license to engage in business.
(5) The filing, approval, or denial under Chapter 13.5 (commencing
with Section 1700) of an application by a foreign (other nation)
bank to establish its first office of any particular class (as
determined under Section 1701) in this state, or the issuance under
that chapter of a license in connection with the establishment of
such an office.
(6) The filing, approval, or denial under Division 1.5 (commencing
with Section 4800) of an application for approval of a sale, merger,
or conversion.
(7) The filing, approval, or denial under Article 6 (commencing
with Section 5700) of Chapter 2 of Division 2 of an application for
approval of a conversion of a federal savings association into a
state savings association, or the filing of a federal charter of a
state savings association that has converted to a federal savings
association.
(8) The filing, approval, or denial under Article 7 (commencing
with Section 5750) of Chapter 2 of Division 2 of an application for
approval of a reorganization, merger, consolidation, or transfer of
assets of a state savings association.
(9) The filing, approval, or denial under Chapter 9 (commencing
with Section 15200) of Division 5 of an application for approval of a
merger, dissolution, or conversion of a credit union.
(10) The taking of possession of the property and business of a
California state bank, savings association, credit union, or person
licensed by the commissioner under any of the laws cited in paragraph
(2).
(b) Other information as the commissioner deems appropriate.

259. Notwithstanding any other provision of this code, whenever any
provision of this division requires the pledge of securities to be
deposited with the Treasurer, to insure the performance of any act or
duty, the securities after first being approved by the commissioner
and upon the written order of the commissioner, shall be deposited
with the Treasurer. The Treasurer, with the consent of the owner of
the securities deposited or to be deposited with the Treasurer, may
place the securities in the custody of a qualified trust company or
bank in the same manner and under the same conditions provided in
Article 3 (commencing with Section 16550) of Chapter 4 of Part 2 of
Division 4 of Title 2 of the Government Code.

260. Whenever the commissioner is notified of or discovers a
violation of the state law punishable by criminal penalties, he or
she shall promptly advise the Attorney General.

261. (a) For the purposes of this section the following definitions
shall apply:
(1) "Control" has the meaning set forth in subdivision (b) of
Section 700. "Control" also means the ownership of a subject person
by means of sole proprietorship, partnership, or by any other similar
means.
(2) "Controlling person" means a person who, directly or
indirectly, controls a subject person.
(3) "Subject person" means any of the following:
(A) A commercial bank, industrial bank, trust company, savings
association, or credit union incorporated under the laws of this
state.
(B) A person licensed by the commissioner under Chapter 14
(commencing with Section 1800) to receive money for transmission to
foreign countries.
(C) A person authorized by the commissioner pursuant to Section
1803 to act as an agent of a person licensed by the commissioner to
receive money for transmission to foreign countries.
(D) A person licensed by the commissioner pursuant to Division 7
(commencing with Section 18000) to transact business as a premium
finance agency.
(E) A person licensed by the commissioner pursuant to Division 15
(commencing with Section 31000) to transact business as a business
and industrial development corporation.
(F) A person licensed by the commissioner pursuant to Division 16
(commencing with Section 33000) to engage in the business of selling
payment instruments in this state issued by the licensee.
(G) A corporation incorporated under the laws of this state for
the purpose of engaging in, or that is authorized by the commissioner
to engage in, business pursuant to Article 1 (commencing with
Section 3500) of Chapter 19.
(H) A foreign corporation that is licensed by the commissioner
pursuant to Article 1 (commencing with Section 3500) of Chapter 19 to
maintain an office in this state and to transact at that office
business pursuant to Article 1 (commencing with Section 3500) of
Chapter 19.
(b) Notwithstanding any other provision of law, and subject to
subdivision (c), the commissioner may deliver, or cause to be
delivered, to local, state, or federal law enforcement agencies
fingerprints taken of any of the following:
(1) An applicant for employment with the department.
(2) A person licensed, or proposed to be licensed, as a subject
person.
(3) A director, officer, or employee of an existing or proposed
subject person.
(4) An existing or proposed controlling person of a subject
person.
(5) A director, officer, or employee of an existing or proposed
controlling person of a subject person.
(6) A director, officer, or employee of an existing or proposed
affiliate of a subject person.
(c) The authorization in subdivision (b) may only be used by the
department for the purpose of obtaining information regarding an
individual as to the existence and nature of the criminal record, if
any, of that individual relating to convictions, and to any arrest
for which the individual is released on bail or on his or her own
recognizance pending trial, for the commission or attempted
commission of a crime involving robbery, burglary, theft,
embezzlement, fraud, forgery, bookmaking, receiving stolen property,
counterfeiting, or involving checks or credit cards or using
computers.
(d) No request shall be submitted pursuant to this section without
the written consent of the person affected.
(e) Any criminal history information obtained pursuant to this
section shall be confidential and no recipient shall disclose its
contents other than for the purpose for which it was acquired.

262. (a) The commissioner shall inform the Commissioner of
Corporations and other 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 the Commissioner of Corporations
and other 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.

263. Chapter 5 (commencing with Section 11500) of Part 1 of
Division 3 of Title 2 of the Government Code does not apply to
hearings conducted by the department.