reglab/statecodes huggingface dataset:
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 3 - Department of Financial Protection and Innovation › ARTICLE 4 - Administration of the Department › Section 379.

379. (a) For the purposes of this section the following definitions shall apply:
(1) “Control” has the meaning set forth in subdivision (b) of Section 1250. “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 licensee.
(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.
(Amended by Stats. 2013, Ch. 334, Sec. 23. (SB 537) Effective January 1, 2014.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 3 - Department of Financial Protection and Innovation › ARTICLE 4 - Administration of the Department › Section 380.

380. (a) The commissioner shall inform 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 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.
(Amended by Stats. 2014, Ch. 401, Sec. 25. (AB 2763) Effective January 1, 2015.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 3 - Department of Financial Protection and Innovation › ARTICLE 4 - Administration of the Department › Section 381.

381. 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.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 3 - Department of Financial Protection and Innovation › ARTICLE 4 - Administration of the Department › Section 382.

382. (a) The department shall require fingerprint images from any department employee, prospective employee or applicant seeking employment within the department, contractor, subcontractor, volunteer, or vendor who may have access to criminal offender record information.
(b) The fingerprint images described in subdivision (a) shall be furnished to the Department of Justice for the purpose of obtaining state- and national-level criminal record information, and to determine the existence and nature of any of the following:
(1) A record of state or federal convictions and the existence and nature of state or federal arrests for which the person is free on bail or on their own recognizance pending trial or appeal.
(2) Being convicted of, or pleading nolo contendere to, a crime, or having committed an act involving dishonesty, fraud, or deceit, if the crime or act is substantially related to the qualifications, functions, or duties of a person in accordance with this provision.
(3) Any conviction or arrest for which the person is free on bail or on their own recognizance pending trial or appeal that has a reasonable nexus to the information or data that the person will be given access.
(c) When the Department of Justice receives a request for national-level criminal offender record information, it shall forward the request to the Federal Bureau of Investigation. The Department of Justice shall review the information returned from the Federal Bureau of Investigation and compile and disseminate a response as provided under subdivision (k) or (o) of Section 11105 of the Penal Code to the department.
(d) The department shall request subsequent arrest notifications from the Department of Justice as provided under Section 11105.2 of the Penal Code.
(e) The Department of Justice may assess a fee sufficient to cover the processing costs required under this section, as authorized pursuant to subdivision (e) of Section 11105 of the Penal Code.
(f) For purposes of this section, “criminal offender record information” means the same as defined in Section 13102 of the Penal Code.
(Added by Stats. 2023, Ch. 198, Sec. 6. (SB 152) Effective September 13, 2023.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 3 - Department of Financial Protection and Innovation › ARTICLE 5 - Financial Institutions Fund › Section 400.

400. As of the operative date of this section, there is established a Financial Institutions Fund in the State Treasury. Except as otherwise provided in Division 5 (commencing with Section 14000), all money collected or received by the commissioner under this code shall be deposited with the Treasurer to the credit of the Financial Institutions Fund.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 3 - Department of Financial Protection and Innovation › ARTICLE 6 - State Banking Account › Section 405.

405. (a) The commissioner shall annually collect pro rata from the banks and trust companies under the supervision of the department a fund in an amount sufficient in the commissioner’s judgment to meet the expenses of the department in administering laws relating to banks or trust companies or to the banking or trust business that are not otherwise provided for and to provide a reasonable reserve for contingencies.
(b) The amount of the annual assessment for the fund on any bank or trust company shall not be less than five thousand dollars ($5,000). Above that minimum amount, except as otherwise provided in subdivision (c), the annual assessment shall not exceed the sum of the products of a base assessment rate, or percentage thereof, and segregated portions of its total resources, according to the following table:
Segregated Total Resources
Percentage of Base
(In Millions or Fractions Thereof)
Assessment Rate
First $2
100.0
Next $18
50.0
Next $80
12.0
Next $100
6.25
Next $800
6.0
Next $1,000
4.0
Next $4,000
3.5
Next $14,000
3.0
Next $20,000
2.5
Excess over $40,000
1.5
(c) (1) For purposes of determining the annual assessment on banks and trust companies that have one or more foreign (other state) branch offices, the resources of foreign (other state) branch offices shall be excluded from total resources, except that the commissioner may order the resources of foreign (other state) branch offices to be included in total resources if and to the extent that it is necessary in the commissioner’s judgment to meet the expenses of the department on account of foreign (other state) branch offices and a reasonable reserve for contingencies.
(2) If the commissioner finds that a bank or trust company allocated any resource to a foreign (other state) branch office for the purpose, in whole or in part, of reducing its annual assessment, the commissioner may, for purposes of calculating the annual assessment on the bank or trust company, reallocate the resource to the bank’s or trust company’s head office.
(d) The base assessment rate shall be set by the commissioner from time to time at the commissioner’s discretion, not to exceed two dollars and twenty cents ($2.20) per one thousand dollars ($1,000) of total resources.
(Amended by Stats. 2013, Ch. 334, Sec. 24. (SB 537) Effective January 1, 2014.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 3 - Department of Financial Protection and Innovation › ARTICLE 6 - State Banking Account › Section 406.

406. The commissioner shall annually collect from national banking associations and foreign (other state) banks operating trust departments in this state an annual assessment to meet expenses of the department, not exceeding one one-hundredth of 1 percent of the amount required by law to be deposited with the Treasurer as surety for the faithful performance and execution of all court and private trusts accepted by them.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 3 - Department of Financial Protection and Innovation › ARTICLE 6 - State Banking Account › Section 407.

407. Whenever the commissioner makes an assessment pursuant to Section 405 or 406, the commissioner shall fix the date when the assessment is due and payable and shall mail or otherwise deliver to each bank and trust company assessed an invoice showing the amount of its assessment and the date when the assessment is due and payable.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 3 - Department of Financial Protection and Innovation › ARTICLE 6 - State Banking Account › Section 408.

408. The commissioner, in addition to the annual assessment, shall collect from each bank authorized to engage in the trust business, to defray the cost of examination, a fee not to exceed seventy-five dollars ($75) per hour for each examiner necessarily engaged in the examination of the trust company, trust business, or trust department. The commissioner shall assess the fee upon completion of the examination of the trust company or trust business and shall mail or otherwise deliver an invoice for the fee to the institution. The institution shall pay the fee within 30 days after the invoice is mailed or otherwise delivered to it.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 3 - Department of Financial Protection and Innovation › ARTICLE 6 - State Banking Account › Section 409.

409. If any bank or trust company fails to make timely payment of any assessment made pursuant to Section 405, 406, or 408, the commissioner may, in the commissioner’s sole discretion, (a) cancel the certificate of authority of the bank or trust company to conduct a banking or trust business or (b) levy a civil penalty pursuant to Section 329.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 3 - Department of Financial Protection and Innovation › ARTICLE 6 - State Banking Account › Section 410.

410. As of the operative date of this section:
(a) The State Banking Fund is converted into a separate account in the Financial Institutions Fund and designated as the State Banking Account.
(b) All moneys and other assets and all liabilities of the State Banking Fund shall be transferred to the State Banking Account.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 3 - Department of Financial Protection and Innovation › ARTICLE 6 - State Banking Account › Section 411.

411. Except as otherwise provided in Section 413 or 414, all salaries and other expenses of the department, other than those incurred in administering laws relating to savings associations or the savings association business, credit unions or the credit union business, industrial banks, the industrial banking business, insurance premium finance agencies, the insurance premium finance business, or Article 2 (commencing with Section 53630) of Chapter 4 of Part 1 of Division 2 of Title 5 of the Government Code, shall be paid out of the State Banking Account in the Financial Institutions Fund. Salaries and other expenses incurred in the liquidation or conservation of any bank (other than an industrial bank) or of any person licensed under Division 1.2 (commencing with Section 2000) or Division 15 (commencing with Section 31000), including the compensation of employees of the department to the extent that they are engaged in that liquidation or conservation, if possible, and if advanced from the State Banking Account in the Financial Institutions Fund, shall constitute a first charge against the assets of the bank or licensee, as the case may be. Salaries and other expenses incurred in the liquidation or conservation of any industrial bank, including the compensation of employees of the department to the extent that they are engaged in that liquidation or conservation, if possible, and if advanced from the Industrial Bank Account in the Financial Institutions Fund, shall constitute a first charge against the assets of the industrial bank.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 3 - Department of Financial Protection and Innovation › ARTICLE 6 - State Banking Account › Section 412.

412. The commissioner shall deliver all moneys received or collected by the commissioner under Section 405, 406, or 408 or otherwise, other than moneys received or collected by the commissioner under laws relating to savings associations, the savings association business, credit unions, the credit union business, industrial banks, the industrial banking business, insurance premium finance agencies, the insurance premium finance business, or Article 2 (commencing with Section 53630) of Chapter 4 of Part 1 of Division 2 of Title 5 of the Government Code, to the Treasurer, who shall deposit the moneys to the credit of the State Banking Account of the Financial Institutions Fund.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 3 - Department of Financial Protection and Innovation › ARTICLE 6 - State Banking Account › Section 413.

413. (a) In this section, “assessment statute” means any statute that authorizes the commissioner to make or collect an assessment (other than a fine) on financial institutions, including the following:
(1) Sections 405 to 407, inclusive.
(2) Section 2042.
(3) Article 2 (commencing with Section 8030) of Chapter 7 of Division 2.
(4) Article 4 (commencing with Section 14350) of Chapter 3 of Division 5.
(5) Section 1533.
(b) The commissioner may charge to and collect from the Financial Institutions Fund, the Credit Union Fund, each of the accounts included in the Financial Institutions Fund, and each of the programs included in the State Banking Account an amount equal to the fund’s, account’s, or program’s pro rata share of those expenses of the department which, in the opinion of the commissioner, it is not feasible to attribute to any single one of the funds, accounts, or programs. The fund’s, account’s, or program’s pro rata share shall be determined and paid in the manner and at the time ordered by the commissioner.
(c) The provisions of any assessment statute that authorize the commissioner to make or collect an assessment for the purposes specified in the assessment statute include authority for the commissioner to make and collect an assessment for the additional purpose of providing money in an amount that will, in the commissioner’s judgment, be sufficient to make payments that may be required under subdivision (b).
(Amended by Stats. 2013, Ch. 334, Sec. 25. (SB 537) Effective January 1, 2014.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 3 - Department of Financial Protection and Innovation › ARTICLE 6 - State Banking Account › Section 414.

414. Notwithstanding any other provision of this code or of Section 53667 of the Government Code, the commissioner may, at any time during a fiscal year, pay any expense of the department from any of the following accounts and funds: the State Banking Account, the Savings and Loan Account, the Industrial Bank Account, the Financial Institutions Fund, the Credit Union Fund, and the Local Agency Deposit Security Fund. However, if the commissioner pays an expense of the department from an account or fund from which the expense is not, except for this section, permitted to be paid, the commissioner shall, as of a date within that fiscal year, reimburse the account or fund from which the expense was paid by making a transfer from the account or fund from which the expense would have been permitted to be paid.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 4 - Operations › Section 450.

450. (a) In this section, “governmental agency” includes, without limitation, any agency of this state, of any other state of the United States, of the United States, or of any foreign nation.
(b) The commissioner may furnish information to a governmental agency that regulates financial institutions.
(c) The commissioner may furnish to a governmental agency that administers a loan guarantee or similar program, information relating to a person who participates in the program.
(d) The commissioner may furnish to a governmental agency that regulates business activities, other than the type described in subdivision (b), information relating to any of the following:
(1) A suspected violation of a law administered by the agency.
(2) A person involved in an application to the agency for a license, approval, or other authorization.
(e) The commissioner may furnish to a governmental agency that is a law enforcement agency information relating to a suspected crime.
(f) The commissioner may furnish information to any person who provides share insurance or guaranty of the shares of a credit union in accordance with Section 14858, 16004, or 16503.
(g) The commissioner may furnish confidential information regarding a licensee to the directors, officers, employees, attorneys, accountants, and consultants of that licensee in accordance with Section 452.
(h) This section does not prescribe the only circumstances under which the commissioner may furnish information.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 4 - Operations › Section 451.

451. With the prior approval of the commissioner, a foreign (other state) or foreign (other nation) financial institutions regulatory agency may examine a licensee and any of its offices, provided that the agency has a regulatory interest in the licensee. Any regulatory agency approved by the commissioner under this section shall be considered a supervisory agency under subdivision (f) of Section 7480 of the Government Code.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 4 - Operations › Section 452.

452. (a) Directors, officers, employees, attorneys, accountants, or consultants of a licensee may not disclose in any manner to any person confidential information regarding the licensee received from the commissioner. The prohibition in this section shall not apply to disclosures of confidential information by directors, officers, employees, attorneys, accountants, or consultants of the licensee:
(1) Made pursuant to a subpoena or other discovery proceeding.
(2) Made to any state or federal prosecuting or investigatory agency or authority.
(3) Made to any state, federal, or foreign (other nation) financial institutions regulatory agency that has a direct regulatory interest in the licensee.
(4) Made to any state or federal taxing agency.
(5) Made as otherwise required by law.
(6) Made as otherwise authorized by the commissioner in writing.
(b) Any director, officer, employee, attorney, accountant, or consultant that discloses confidential information in a manner other than allowed by this section shall be liable for a civil penalty not to exceed fifty thousand dollars ($50,000). The commissioner may impose a penalty under this section in accordance with the procedures set forth in Section 329.
(c) The prohibition set forth in subdivision (a) shall not apply to any discussion, analysis, or other use of confidential information provided by the commissioner that occurs between directors, officers, employees, attorneys, accountants, or consultants of the licensee.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 4 - Operations › Section 453.

453. Every licensee shall make and file with the commissioner whenever required by him or her a report in any form as the commissioner may prescribe and verified in any manner the commissioner prescribes, showing its financial condition and any other information as the commissioner may require at the close of business on any day designated by him or her. Any verification shall state that each of the officers making the verification has a personal knowledge of the matters in the report and that each of them believes that each statement in the report is true.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 4 - Operations › Section 454.

454. The commissioner shall call for the report specified in Section 453 from all licensees at least four times each year upon dates selected by the commissioner.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 4 - Operations › Section 455.

455. The commissioner may at any time require any licensee to make and file with him or her a special report furnishing any information as the commissioner may specify when necessary to inform him or her fully of the actual financial condition and all other affairs of the licensee. The reports shall be in the form and filed on a date prescribed by the commissioner and shall, if required by the commissioner, be verified in any manner that he or she prescribes.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 4 - Operations › Section 456.

456. Every licensee shall keep its corporate records, financial records, and books of account in words and figures of the English language and in form satisfactory to the commissioner.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 4 - Operations › Section 457.

457. Every licensee shall notify the commissioner of any change in the following officers of the licensee, to the extent that those officers exist within the licensee: chairperson, chief executive officer, president, general manager, managing officer, chief financial officer, or chief credit officer.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 4 - Operations › Section 458.

458. (a) Each report required under this article, or under any other provision of law administered by the commissioner, shall be filed with the commissioner at the time that the commissioner may require. If any licensee fails to make any required report at the time specified by the commissioner or fails to include therein any matter required by this article, any provision of law administered by the commissioner, or by the commissioner, it shall be liable to the people of this state in the sum of not more than one hundred dollars ($100) for each day that the report is delayed or withheld by the failure or neglect of the licensee.
(b) The provisions of Section 329 shall not apply to this section.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 4 - Operations › Section 459.

459. (a) Every licensee shall file with the commissioner one copy of all material filed by the licensee with a federal agency that is charged with the supervision and regulation of that licensee, or a law enforcement agency.
(b) Each copy required to be filed pursuant to subdivision (a) shall be filed with the commissioner on or before the date upon which the original is filed with the agencies specified in subdivision (a) and shall be available for inspection by the public except to the extent the information contained therein is accorded confidential treatment under state or federal law or regulations.
(Amended by Stats. 2014, Ch. 64, Sec. 9. (AB 2742) Effective January 1, 2015.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 4 - Operations › Section 460.

460. Any person intentionally making a false statement in any report required to be rendered under this article or other provision of law administered by the commissioner is guilty of perjury.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 4 - Operations › Section 461.

461. Any debt due a licensee on which interest is past due and unpaid for the period of one year shall be charged off, unless the debt is well secured or is in process of collection.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 4 - Operations › Section 462.

462. Any person that provides services to any licensee, at the request of the commissioner, shall submit to an examination by the commissioner. Should the commissioner deem it necessary or desirable that an examination be made of a person, the examination shall be made at the expense of the person examined. If the person refuses to permit an examination to be made, the commissioner may order every licensee receiving services from that person to discontinue receiving those services or otherwise conducting business with that person, and the licensees shall comply with that order.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 4 - Operations › Section 463.

463. (a) All references in this code and the Corporations Code to financial statements, balance sheets, income statements, and statements of changes in financial position of a licensee, and all references to assets, liabilities, earnings, retained earnings, shareholders’ equity, net worth, and similar accounting items of a licensee, mean those financial statements or those items prepared or determined in conformity with generally accepted accounting principles then applicable in the United States, fairly presenting in conformity with generally accepted accounting principles accepted in the United States the matters which they purport to present, subject to any specific accounting treatment required by any applicable provision of the Corporations Code, this code, or any regulation, order issued by the commissioner, or agreement entered into by the commissioner and a licensee.
(b) The commissioner may, by regulation or order, require that any financial statement or accounting item of a licensee be prepared or determined in a manner other than in conformity with generally accepted accounting principles accepted in the United States if the commissioner finds that such other manner is necessary or appropriate to carry out the purposes or provisions of this code.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 4 - Operations › Section 464.

464. (a) An officer of a financial institution, within the meaning of Section 1101(1) of the federal Right to Financial Privacy Act of 1978 (12 U.S.C. Sec. 3401(1)), shall furnish the State Department of Health Care Services or its designee with information in the possession of the bank or company regarding the assets of any person who is applying for, or is receiving assistance or benefits from, the State Department of Health Care Services and has provided authorization pursuant to Section 14013.5 of the Welfare and Institutions Code.
(b) The obtaining of financial records by the State Department of Health Care Services, or its designee, pursuant to this section shall be subject to the cost reimbursement requirements of Section 1115(a) of the federal Right to Financial Privacy Act of 1978 (12 U.S.C. Sec. 3415(a)) and shall be at no cost to the applicant, recipient, or any other person, as defined in paragraph (3) of subdivision (c) of Section 14013.5 of the Welfare and Institutions Code.
(c) An authorization obtained by the State Department of Health Care Services, or its designee, under Section 14013.5 of the Welfare and Institutions Code shall be considered as meeting the requirements of Section 1103(a) of the federal Right to Financial Privacy Act of 1978 (12 U.S.C. Sec. 3403(a)) and, notwithstanding Section 1104(a) of the federal Right to Financial Privacy Act of 1978 (12 U.S.C. Sec. 3404(a)), need not be furnished to the financial institution.
(d) The certification requirements of Section 1103(b) of the federal Right to Financial Privacy Act of 1978 (12 U.S.C. Sec. 3403(b)) shall not apply to requests by the State Department of Health Care Services, or its designee, pursuant to an authorization provided under Section 14013.5 of the Welfare and Institutions Code.
(e) A request by the State Department of Health Care Services, or its designee, pursuant to an authorization provided under Section 14013.5 of the Welfare and Institutions Code shall be deemed to meet the requirements of Section 1104(a)(3) of the federal Right to Financial Privacy Act of 1978 (12 U.S.C. Sec. 3404(a)(3)) and of Section 1102 of the act (12 U.S.C. Sec. 3402), relating to a reasonable description of financial records.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 5 - Examinations and Reports-Banking › ARTICLE 1 - Examination › Section 501.

501. (a) Whenever, in the judgment of the commissioner, it is necessary or advisable to make an extra examination of or to devote any extraordinary attention to any bank, any foreign bank, or any office of a foreign bank, he or she has the authority to do so and to charge and collect from the bank or foreign bank, in the case of an extra examination, an amount not exceeding seventy-five dollars ($75) per hour for each examiner engaged in the examination and, in the case of extraordinary attention, an amount not exceeding the department’s expenses in providing the extraordinary attention, including, but not limited to, compensation of employees.
(b) Whenever in the judgment of the commissioner it is necessary or expedient for any examiner engaged in any examination to travel outside this state, the commissioner may charge for the travel expenses of the examiner.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 5 - Examinations and Reports-Banking › ARTICLE 1 - Examination › Section 502.

502. (a) The commissioner may by order or regulation grant exemptions from this section in cases where the commissioner finds that the requirements of this section are not necessary.
(b) Each California state bank shall, within 90 days after the end of each fiscal year, or within such extended time as the commissioner may prescribe, file with the commissioner an audit report for the fiscal year.
(c) The audit report called for in subdivision (b) shall comply with all of the following provisions:
(1) The audit report shall contain those audited financial statements of the bank for or as of the end of the fiscal year prepared in accordance with generally accepted accounting principles and any other information that the commissioner may require.
(2) The audit report shall be based upon an audit of the bank conducted in accordance with generally accepted auditing standards and any other requirements that the commissioner may prescribe.
(3) The audit report shall be prepared by an independent certified public accountant or independent public accountant who is not unsatisfactory to the commissioner.
(4) The audit report shall include or be accompanied by a certificate or opinion of the independent certified public accountant or independent public accountant that is satisfactory in form and content to the commissioner. If the certificate or opinion is qualified, the commissioner may order the bank to take such action as the commissioner may find necessary to enable the independent certified public accountant or independent public accountant to remove the qualification.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 5 - Examinations and Reports-Banking › ARTICLE 1 - Examination › Section 503.

503. The commissioner, whenever in his or her opinion the condition of the bank, trust company, or foreign banking corporation is such as to require such audit, may require any bank, trust company, or foreign banking corporation to employ a certified public accountant to make a special audit of the affairs of such bank or trust company at its expense.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 5 - Examinations and Reports-Banking › ARTICLE 1 - Examination › Section 504.

504. The commissioner, for good cause, at any time and from time to time may employ appraisers to appraise the value of any investment, asset, or property held or upon which a lien is held as security for a loan. The bank, trust company, or foreign banking corporation shall pay to the commissioner on demand the cost of such appraisal.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 5 - Examinations and Reports-Banking › ARTICLE 1 - Examination › Section 505.

505. The commissioner, a deputy commissioner, and every examiner assigned to an examination may administer an oath to any person whose testimony is required for the purposes of any examination authorized by this division and may by issuance of subpoena compel the appearance of any person and the production of any evidence for the purposes of the examination.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 5 - Examinations and Reports-Banking › ARTICLE 1 - Examination › Section 506.

506. Whenever he or she deems it expedient, the commissioner may call a meeting of the stockholders of any bank or trust company. Notice of the time and place of the meeting shall be given to each stockholder by a notice mailed to the stockholder by registered mail at the stockholder’s last known address at least 15 days before the date of the meeting. Any expenses of such meeting shall be borne by the bank or trust company.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 5 - Examinations and Reports-Banking › ARTICLE 1 - Examination › Section 507.

507. During any emergency period declared by the President of the United States, each bank shall conform to any order of the commissioner directed to it, relating to and conforming with regulations, limitations, or restrictions which are applicable thereto prescribed by the Secretary of the Treasury, the Comptroller of the Currency, or the Board of Governors of the Federal Reserve System regulating or governing the operations of banks which are members of the Federal Reserve System.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 5 - Examinations and Reports-Banking › ARTICLE 1 - Examination › Section 508.

508. During any emergency period declared by the Governor no bank shall transact any banking business except to such extent and subject to such regulations, limitations, or restrictions as may be prescribed by the commissioner, which, as to member banks, shall be as consistent as the exigencies of the situation permit with the provisions of the Federal Reserve Act and regulations issued thereunder or, as to insured banks, shall be as consistent as the exigencies of the situation permit with the rules and regulations governing banks whose deposits are insured by the Federal Deposit Insurance Corporation.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 5 - Examinations and Reports-Banking › ARTICLE 1 - Examination › Section 509.

509. (a) The commissioner may, in his or her discretion, bring an action in the name of the people of this state in a superior court to enjoin a violation of, to enforce compliance with, or to collect a penalty or other liability imposed under, this division or any regulation or order issued under this division. The amount of any penalty or liability collected shall be deposited into the State Banking Account in the Financial Institutions Fund. Upon a proper showing, a permanent or preliminary injunction, restraining order, or writ of mandate shall be granted, and a monitor, receiver, conservator, or other designated fiduciary or officer of the court may be appointed for the defendant or the defendant’s assets, or other appropriate relief may be granted.
(b) A receiver, monitor, conservator, or other designated fiduciary officer of the court appointed by the superior court pursuant to this section may, with the approval of the court, exercise all of the powers of the defendant’s officers, directors, partners, trustees, or of persons who exercise similar powers and perform similar duties, including the filing of a petition for bankruptcy. No action at law or in equity may be maintained by any party against the commissioner, or a receiver, monitor, conservator, or any other designated fiduciary officer of the court by reason of their exercising these powers or performing these duties pursuant to the order of, or with the approval of, the superior court.
(c) If the commissioner determines it is in the public interest, the commissioner may include in an action authorized by subdivision (a), a claim for ancillary relief, including, but not limited to, a claim for restitution, disgorgement, or damages on behalf of the person injured by the act or practice that is the subject matter of the action. The court has jurisdiction to award additional relief.
(d) The provision of subdivision (a) that authorizes the appointment of a monitor, receiver, conservator, or other designated fiduciary or officer of the court, and subdivisions (b) and (c) do not apply to any of the following:
(1) A state bank that is authorized by the commissioner to transact commercial banking or trust business.
(2) A national bank.
(3) A foreign (other state) bank that maintains a branch office in this state in accordance with federal law, the law of this state, and the law of the bank’s domicile.
(4) A foreign (other nation) bank that is licensed by the commissioner to maintain a branch office or agency, as defined in Section 1750, in this state.
(5) A foreign (other nation) bank that maintains a federal branch or agency, as defined in Section 1750, in this state.
(e) The provisions of this section that authorize the commissioner to bring actions and seek relief are not intended to, and do not, affect any right that any other person may have to bring the same or similar actions, or to seek the same or similar relief.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 5 - Examinations and Reports-Banking › ARTICLE 2 - Reports › Section 520.

520. (a) A California state bank shall prominently display in the lobby of its main office and each branch office, except an automated teller machine branch office, a notice that any person may obtain a financial report from the bank. The notice shall include the address and telephone number of the person or office to be contacted for a financial report. The bank shall, promptly after receiving a request for a financial report, mail or otherwise furnish the financial report to the requester. The first financial report shall be provided without charge.
(b) The financial report called for in this section shall contain either (1) the information that the commissioner may require by regulation or (2) in the absence of a regulation, the last balance sheet and income statement, each without any schedules, that the bank filed with the commissioner pursuant to Section 453.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 5 - Examinations and Reports-Banking › ARTICLE 2 - Reports › Section 521.

521. (a) A bank or credit union subject to the examination authority of the commissioner shall report annually, on or before March 1, to the commissioner on the amount of revenue earned from overdraft fees and nonsufficient funds fees collected in the most recently completed calendar year and the percentage of that revenue as a proportion of the net income of the bank or credit union.
(b) (1) The commissioner shall publish, pursuant to paragraph (2), in a report the data for each bank or credit union required by subdivision (a) and make the report available on the department’s internet website.
(2) (A) The commissioner shall publish the first report required by this subdivision on or before March 31, 2023, covering data from the 2022 calendar year.
(B) In a calendar year beginning on or after January 1, 2024, the commissioner shall publish the report required by this subdivision on or before March 31 covering data from the most recently completed calendar year.
(c) As used in this section:
(1) “Nonsufficient funds fees” means fees resulting from the initiation of a transaction that exceeds the customer’s account balance if the customer’s bank or credit union declines to make the payment.
(2) “Overdraft fees” means fees resulting from the processing of a debit transaction that exceeds a customer’s account balance.
(Added by Stats. 2022, Ch. 847, Sec. 1. (SB 1415) Effective January 1, 2023.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 6 - Enforcement › ARTICLE 1 - General Provisions › Section 550.

550. In this article:
(a) “Appropriate licensee business” means the business that a licensee may conduct in accordance with the charter or license that the commissioner has issued to that licensee.
(b) “Customer” means a depositor of a bank, a member of a credit union, or a customer of any other licensee.
(c) “Holding company” shall have the meaning set forth in Section 1280.
(d) “Officer of a subject institution” means any director, officer, official, or employee of the subject institution.
(e) “Person” means a subject institution or a subject person.
(f) “Subject institution” means any of the following:
(1) Licensee.
(2) Subsidiary of a licensee.
(3) Foreign (other state) or foreign (other nation) bank or credit union that maintains an office in this state, with respect to any such office other than a national bank or federal credit union.
(4) Any other person lawfully conducting the business of a bank or credit union in this state other than a national bank or federal credit union.
(g)  “Subject person,” when used with respect to a subject institution, means any of the following:
(1) Director, officer, employee, or agent of the subject institution.
(2) Member, consultant, joint venture partner, or other person that participates in the affairs of a subject institution.
(3) Independent contractor, including any attorney, appraiser, or accountant, who knowingly or recklessly participates in any of the following acts if the act caused or is likely to cause more than a minimal financial loss to, or a significant adverse effect on, the subject institution:
(A) A violation of any applicable law, regulation, or order.
(B) A breach of fiduciary duty.
(C) An unsafe or unsound act.
(h)  “Violation” includes any act performed, alone or with other persons, for or toward causing, bringing about, participating in, counseling, aiding, or abetting a violation of any applicable statute, regulation, provision of a written order issued by the commissioner, or provision of a written agreement made between the commissioner and a subject institution or subject person.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
2023 California Code › Financial Code - FIN › DIVISION 1 - FINANCIAL INSTITUTIONS › CHAPTER 6 - Enforcement › ARTICLE 1 - General Provisions › Section 551.

551. Any subject person who is entitled to a hearing pursuant to this article may waive that right at any time. A waiver under this section shall relieve the commissioner from having to issue a formal notice of hearing that would otherwise be required by this article.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)