reglab/housing_qa huggingface dataset:
CA Fin Code § 6454 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 3 - Corporate Administration|ARTICLE 6 - Records|Section 6454.

6454.  No association by any system of accounting or any device of bookkeeping shall, either directly or indirectly, enter any of its assets upon its books in the name of any other person, partnership, association, or corporation or under any title or designation that is not truly descriptive of the assets.(Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)
CA Fin Code § 6455 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 3 - Corporate Administration|ARTICLE 6 - Records|Section 6455.

6455.  (a) Each association shall maintain complete loan and investment records, and shall do so in a manner satisfactory to the commissioner. Detailed records necessary to make determinations of compliance by an association with the requirements of Chapter 6 (commencing with Section 7200) and other provisions of this division shall be maintained at all times.(b) The record of each real estate loan or other secured loan or investment shall contain documentation satisfactory to the commissioner of the type, adequacy and characteristics of the security.(Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)
CA Fin Code § 6456 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 3 - Corporate Administration|ARTICLE 6 - Records|Section 6456.

6456.  Each mutual association shall maintain membership records which shall show the name and address of the member and the date of membership.(Amended by Stats. 1985, Ch. 983, Sec. 4. Effective September 26, 1985.)
CA Fin Code § 6457 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 3 - Corporate Administration|ARTICLE 6 - Records|Section 6457.

6457.  Each capital stock association shall maintain a register of stockholders.(Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)
CA Fin Code § 6458 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 3 - Corporate Administration|ARTICLE 6 - Records|Section 6458.

6458.  (a) Any association may cause any or all records of the association to be copied or reproduced by any photostatic, photographic, or microfilming process that correctly and permanently copies, reproduces, or forms a medium for copying or reproducing the original record on a film or other durable material.(b) Any copy or reproduction made under subdivision (a) shall be deemed to be an original record for all purposes and shall be treated as an original record in all courts or administrative agencies for the purpose of its admissibility in evidence.(c) A facsimile, exemplification, or certified copy of any copy made pursuant to subdivision (a), or a reproduction produced from a film record, shall, for all purposes, be deemed a facsimile, exemplification, or certified copy of the original record.(Added by renumbering Section 6460 by Stats. 1984, Ch. 287, Sec. 15. Effective July 6, 1984.)
CA Fin Code § 6475 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 3 - Corporate Administration|ARTICLE 7 - Statutory Net Worth; Reserve Accounts|Section 6475.

6475.  (a) Each association shall maintain an adequate statutory net worth appropriate for the conduct of its business and the protection of its savings account holders.(b) The commissioner shall fix a minimum statutory net worth requirement applicable to all associations, which shall not be less than 3 percent of an association’s total assets. In defining total assets, the commissioner may issue regulations to exclude from the total asset figure any asset items deemed appropriate by the commissioner.(c) If the statutory net worth falls below the level specified by the commissioner, the commissioner may require the association to increase its statutory net worth within the time and in a manner designated by the commissioner, so as to bring the amount to the level determined adequate under this section, and may require the association to do any one or more of the following:(1) Increase its liquid assets and maintain that increased liquidity at the level specified by the commissioner.(2) Cease to:(A) Accept savings accounts of all classes or categories, except in exchange for accounts already outstanding.(B) Accept savings accounts of any particular class, category, or amount.(C) Receive additional funds upon savings accounts already outstanding other than installment accounts.The provisions of paragraph (2) of subdivision (c) shall not prevent an association from crediting to savings accounts the interest earned on the accounts.(3) Cease all lending, lending in a particular area, or making a particular type or category of loans.(4) Cease purchase of loans or other investments.(5) Cease or limit promotional expenditures.(6) Convene a meeting or meetings of its board of directors with the commissioner in attendance to accomplish the objectives of this section.(7) Take any other steps that the commissioner deems necessary to safeguard the interests of the association and the public.(Amended by Stats. 1988, Ch. 718, Sec. 11.)
CA Fin Code § 6476 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 3 - Corporate Administration|ARTICLE 7 - Statutory Net Worth; Reserve Accounts|Section 6476.

6476.  Each association shall set up and maintain the reserves required by, and may set up and maintain any additional reserves that are permitted by, this division.The board of directors may make additional transfers to surplus or other reserve accounts.(Added by Stats. 1983, Ch. 1091, Sec. 2.)
CA Fin Code § 6477 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 3 - Corporate Administration|ARTICLE 7 - Statutory Net Worth; Reserve Accounts|Section 6477.

6477.  Any association which, for the purpose of evading provisions of this division or any order of the commissioner, knowingly participates, directly or indirectly, in an exchange with another association of any loan, investment, or other asset held by either association in violation of any provision of this division or any order of the commissioner, shall, upon direction of the commissioner, set up and maintain a reserve in the full amount of the asset acquired and shall not include that reserve in its statutory net worth.(Added by Stats. 1986, Ch. 1158, Sec. 3. Effective September 26, 1986.)
CA Fin Code § 6500 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6500.

6500.  (a) Each association incorporated pursuant to or operating under the provisions of this division shall have all the powers enumerated, authorized, and permitted by this division and other rights, privileges, and powers, and may engage in any activities singly or with others, that are incidental to or reasonably necessary or appropriate for the accomplishment of the objects and purposes of the association, as provided by this division. Among others, and except as otherwise limited by the provisions of this division, each association shall have the powers set out in this chapter. Associations shall be subject to the provisions of the General Corporation Law (Division 1 (commencing with Section 100) Title 1 of the Corporations Code) and shall also have all the powers and privileges provided in the General Corporation Law of this state to other corporations except those powers and privileges that are expressly denied to associations in this division. If any provision of the General Corporation Law is inconsistent with any provision of this division, the provisions of this division shall prevail.(b) All references in this division to the General Corporation Law mean the General Corporation Law effective January 1, 1977, and any subsequent amendments thereto.(c) In the application of Chapter 23 (commencing with Section 2300) of the Corporations Code to associations, the definition of effective date in Section 2300 is January 1, 1978.(Amended by Stats. 1984, Ch. 287, Sec. 16. Effective July 6, 1984.)
CA Fin Code § 6501 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6501.

6501.  An association may have perpetual existence, adopt and use a corporate seal which may be affixed by imprint, facsimile, or otherwise, and adopt and amend bylaws as provided in this division.(Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)
CA Fin Code § 6502 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6502.

6502.  An association may sue, be sued, complain, and defend in any court.(Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)
CA Fin Code § 6502.5 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6502.5.

6502.5.  An association may, acquire, hold, sell, develop, subdivide, dispose of, and convey real and personal property consistent with its objects and powers. It may mortgage, pledge, or lease any real or personal property and may take the property by gift, devise, or bequest.(Added by Stats. 1990, Ch. 1118, Sec. 31.)
CA Fin Code § 6503 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6503.

6503.  (a) No association or subsidiary thereof, without the prior written consent of the commissioner, shall enter into either of the following:(1) Any transaction or modification of any transaction with an affiliated person to buy, lease, or sell real or personal property, or take that property by gift.(2) Any consulting contracts or contracts for services with an affiliated person.(b) As a condition to approving a transaction specified in subdivision (a), the commissioner shall make both of the following findings:(1) The terms of the transaction are fair to, and in the best interests of, the savings association or subsidiary. In the case of real or personal property transactions, this finding shall be supported by an appraisal not prepared by an affiliated person or employee of the association or subsidiary.(2) The transaction was approved in advance by a resolution duly adopted with full disclosure by at least a majority, with no director having an interest in the transaction voting, of the entire board of directors of the association or subsidiary, or alternatively, by a majority of the total votes eligible to be cast by the voting members or stockholders of the association at a meeting called for that purpose, with no votes cast by proxies not solicited for that purpose. For purposes of this subdivision, “full disclosure” shall include, but not be limited to, (A) the affiliated person’s source of financing for any real property involved in the transaction and (B) whether the association or any subsidiary thereof has a deposit relationship with any financial institution or holding company or affiliate thereof providing the financing.(Amended by Stats. 2006, Ch. 538, Sec. 165. Effective January 1, 2007.)
CA Fin Code § 6504 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6504.

6504.  (a) Except by the prior written consent of the commissioner, an association in organization that is not a member of a federal home loan bank may borrow money from any source not more than an aggregate amount equal to 25 percent of its assets on the date of borrowing, and may pledge and otherwise encumber any of its assets to secure its debts.(b) An association that is a member of a federal home loan bank may borrow money from any source without limitation and may pledge and otherwise encumber any of its assets to secure its debts or savings accounts.(Amended by Stats. 1985, Ch. 983, Sec. 5. Effective September 26, 1985.)
CA Fin Code § 6505 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6505.

6505.  (a) An association may issue and sell, directly or through underwriters, capital certificates that represent nonwithdrawable capital contributions, and constitute part of the reserves and statutory net worth of the association. The certificates shall have no voting rights and shall be subordinate to all savings accounts, debt obligations, and claims of creditors of the association. The certificates shall constitute a claim in liquidation against any reserves, surplus, and other statutory net worth accounts remaining after the payment in full of all savings accounts, debt obligations, and claims of creditors. The capital certificates shall be entitled to the payment of interest prior to the allocation of any income to surplus or other statutory net worth accounts of the association and may be issued with a fixed rate of interest or with a prior claim to distribution of a specified percentage of any net income remaining after required allocations to reserves, or a combination of those features. Losses may be charged against capital certificates only after reserves, surplus, and other statutory net worth accounts have been exhausted.(b) To the extent permitted by its articles of incorporation, an association authorized to issue capital stock may provide for the conversion of capital certificates into common stock.(Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)
CA Fin Code § 6507 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6507.

6507.  An association may qualify as and become a member of a federal home loan bank and a home loan bank established as an agency or instrumentality of this state.(Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)
CA Fin Code § 6508 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6508.

6508.  An association may become a member of, deal with, maintain reserves or deposits with, or make reasonable payments or contributions to any organization or instrumentality whether government or private, to the extent that the organization or instrumentality assists in furthering or facilitating the association’s purposes, powers, services, or community responsibilities, and it may comply with any reasonable requirements or conditions of eligibility.(Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)
CA Fin Code § 6509 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6509.

6509.  An association may act as depository for receipt of payments of federal or state taxes and loan funds, and may satisfy any related federal or state statutory or regulatory requirements, including pledging of assets as collateral, payment of interest at prescribed rates, and, notwithstanding any other provision of this division, may issue the accounts subject to the right of immediate withdrawal.(Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)
CA Fin Code § 6510 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6510.

6510.  An association may sell any loan, including a participating interest in a loan, at any time.(Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)
CA Fin Code § 6511 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6511.

6511.  Loans secured by real property may be sold to, and are legal investments for, among others, any public or private pension fund, credit union, labor union fund, or public employee association and may be purchased by those institutions directly from an association. Nothing in this subdivision shall be construed as altering any limits imposed by law on the extent of participation in an investment that is made by any entity covered by this subdivision.(Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)
CA Fin Code § 6513 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6513.

6513.  An association may service loans and investments for others.(Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)
CA Fin Code § 6514 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6514.

6514.  (a) An association may act, and receive compensation for so acting, as trustee of any trust created or organized in the United States and forming a part of a stock bonus, pension, or profit-sharing plan that qualifies for specific tax treatment under Section 401 of the Internal Revenue Code of 1986 (26 U.S.C., Sec. 401), as amended.(b) It may also act, and receive compensation for so acting, as trustee or custodian of an individual retirement account within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended.(c) Assets of the trust or account must be invested only in savings accounts of the association, in obligations or securities issued by the association, or in other investments that are approved by the commissioner.(d) All assets held in fiduciary capacity by any association under the authority of this section may be commingled and consolidated for appropriate purposes of investment if records reflecting each separate beneficial interest are maintained by the fiduciary or by another appropriate party who assumes that duty.(e) The trustee or custodian may accept noncash assets under this section if the assets are converted into cash as soon as practicable.(Amended by Stats. 1990, Ch. 1118, Sec. 32.5.)
CA Fin Code § 6515 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6515.

6515.  (a) Notwithstanding any provisions of Division 1 (commencing with Section 99), Section 202 of the Corporations Code, or any other provisions of law relating to trusts and trust authority, subject to regulations of the commissioner, an association may act as trustee, executor, administrator, guardian, or in any other fiduciary capacity in which banks, trust companies, or other corporations are permitted to act under the laws of this state, directly or through a state or nationally chartered subsidiary.(b) All acts provided in this code to be performed by the commissioner, the State Treasurer, or other public officials for or in respect to the deposit of securities by trust companies for the protection of court and private trusts shall be performed as well for or in respect to the deposit of securities by any association or the trust companies of any association organized or doing business under the laws of this state, or by any federal association authorized to transact a trust business. An association may advertise its authority to engage in and conduct a trust business and to advertise for and solicit a trust business in this state, notwithstanding any other provision of law.(c) Pursuant to the authority contained in Section 1 of Article XV of the California Constitution, the restrictions upon rates of interest contained in Section 1 of Article XV of the California Constitution shall not apply to any obligations of, loans made by, or forbearances of, an association or federal association, or a service corporation which is authorized to exercise trust powers, when the association, federal association, or service corporation is acting in its fiduciary capacity as trustee.(d) Subdivision (c) creates and authorizes an exempt class of persons pursuant to Section 1 of Article XV of the Constitution. Notwithstanding any other provision of law, subdivision (c) does not exempt an association, federal association, or a service corporation of such associations, from complying with all other laws and regulations governing the business in which the association, federal association, or service corporation is engaged.(Amended by Stats. 1996, Ch. 1064, Sec. 552. Effective January 1, 1997. Operative July 1, 1997.)
CA Fin Code § 6516 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6516.

6516.  (a) Subject to regulations issued by the commissioner, an association may own and use or participate in the use or ownership and use of remote service units.(b) A remote service unit is not a branch or agency.(Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)
CA Fin Code § 6517 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6517.

6517.  Subject to Regulation E (12 CFR Part 205) and to rules and regulations of the commissioner, an association may transfer funds between holders of savings accounts, and third parties, or their designees, by means of an electronic funds transfer system. No system or any part of it, including terminals or processing centers, shall of itself be considered a branch office or agency.(Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)
CA Fin Code § 6518 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6518.

6518.  (a) An association may maintain and rent safes, boxes, or other receptacles or premises for the safekeeping of personal property upon terms and conditions that may be agreed upon.(b) An association that rents or otherwise makes safe-deposit boxes available to the public is entitled to all of the remedies set forth in Article 2 (commencing with Section 1660) of Chapter 13 of Division 1, and may dispose of the unclaimed contents of safe-deposit boxes in the manner set forth in that article.(Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)
CA Fin Code § 6519 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6519.

6519.  An association may sell money orders, travel checks, and similar instruments drawn by it on its bank accounts or as agent for any organization empowered to sell the instruments through agents within this state.(Added by Stats. 1983, Ch. 1091, Sec. 2.)
CA Fin Code § 6520 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6520.

6520.  An association, service corporation, or a person authorized in writing by an association may act as an agent for others except that an association may not act as an insurer or transact insurance as agent for an insurer. Any savings and loan association holding company or any service corporation that acts as an agent of an insurer shall conform to the requirements of Section 7455 and Section 770.1 of the Insurance Code.(Amended by Stats. 1985, Ch. 983, Sec. 6.5. Effective September 26, 1985.)
CA Fin Code § 6521 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 4 - Powers of Associations|ARTICLE 1 - General Powers|Section 6521.

6521.  (a) Notwithstanding the provisions of Division 6 (commencing with Section 17000) or any other provision of law, an association or service corporation may act as an escrow agent in connection with the sale, transfer, encumbering or leasing of real or personal property.(b) The name for any subdivision of an association operating as an escrow agent pursuant to this section, if different from the name of the association, shall be approved by the commissioner.(Amended by Stats. 1985, Ch. 983, Sec. 7. Effective September 26, 1985.)