SECTIONS 8050-8055 - California Statutes

FINANCIAL CODE

SECTION 8050-8055

8050. (a) The commissioner shall have general supervision over all
(1) associations, (2) savings and loan holding companies, (3) service
corporations, (4) finance subsidiaries, and (5) other persons that
are subject to the provisions of this division.
(b) The commissioner shall enforce the purposes of this division
by use of the powers conferred by it and by an action in any court of
competent jurisdiction if required.

8051. Each decision, order, or instruction shall be in writing
signed by the commissioner or a deputy commissioner and shall be sent
by registered or first-class mail, addressed to the home office of
the appropriate association or person.

8053. The commissioner may from time to time issue, amend and
rescind any rules, regulations, forms, and orders that are necessary
to carry out the provisions of this division, including rules and
regulations governing the administration of any association, savings
and loan holding company and their subsidiaries, and defining any
terms whether or not used in the law insofar as the definitions are
not inconsistent with the provisions of this division. The
commissioner may waive any requirement of any rule or regulation in
situations where, in the commissioner's opinion, the requirement is
not necessary in the public interest or for the protection of the
public.

8054. (a) Notwithstanding any other provision of law, whenever by
statute or regulation there is extended to federal associations doing
business in this state any right, power, privilege, or duty not
authorized for state associations, the commissioner may by regulation
extend to state associations that right, power, privilege, or duty.
(b) Any regulation adopted under this section shall expire at 12
p.m. on December 31 of the year following the calendar year in which
it is promulgated.
(c) For the purposes of Chapter 3.5 (commencing with Section
11340) of Part 1 of Division 3 of Title 2 of the Government Code
regulations adopted under this section are subject only to the
provisions of Sections 11343.4, 11346.1, and 11349.6 of the
Government Code.
(d) The provisions of this section shall not apply to any federal
statute or regulation promulgated prior to January 1, 1984.

8055. Every final decision of the commissioner is subject to
judicial review in accordance with law. An action or proceeding for
judicial review pursuant to this section shall be commenced within 60
days after issuance of the final decision.