SECTIONS 8009-8010 - California Statutes

FINANCIAL CODE

SECTION 8009-8010

8009. (a) Except where required by law, regulation, or court order,
or permitted under subdivision (b), the commissioner, and all
employees of the department, shall not disclose any information
acquired by them in the discharge of their duties as prescribed by
this division.
(b) The commissioner may furnish information relating to the
condition or operation of any association or other person to state
and federal authorities that supervise financial institutions, to
state, local and federal law enforcement agencies, and state agencies
that are engaged in any investigation of an unsafe or unsound
business practice.
(c) No record or document in the possession or custody of the
department which contains information specified in subdivision (a)
shall be produced pursuant to a subpoena duces tecum addressed to the
commissioner or any employee of the department except upon a
determination of a court of competent jurisdiction that disclosure of
the information in the record or document would serve the public
interest and assist the department in conducting the duties
prescribed by this subdivision. With respect to each item subject to
the subpoena duces tecum, the court shall either make this
determination or shall determine that the item is not subject to
disclosure. The court's determination shall be made upon hearing on a
motion by the subpoenaing party under this subdivision to compel
production of the document or record.

8010. The commissioner, after a determination of value made in
accordance with Article 4 (commencing with Section 8150) of Chapter
7, may order that assets, individually or in the aggregate, to the
extent that the assets are overvalued on an association's books, be
charged off against current operations, or that a special reserve or
reserves equal to the overvaluation be set up by transfers from
retained earnings or reserves.