California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 2 - Establishment of Agency or Branch Office › Subpart 4 - Post-Approval Matters › Section 10.14183 - Agreement

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Except as
						  otherwise provided in Section
						  10.14176 of this Chapter, not less
						  than five business days before the license for a subject office is to be
						  issued, the applicant shall file with the Commissioner:
(1) Agreement of the applicant, agreeing, in
						  consideration of the issuance of the license, as follows:
(A) That any bank regulatory agency having
						  information or records regarding the applicant, including any bank regulatory
						  agency of the domiciliary jurisdiction of the applicant, of the United States,
						  of any state of the United States, or of any foreign nation, may furnish to the
						  Commissioner such information, and permit him to inspect and copy such records,
						  as the Commissioner may request from time to time.
(B) That, in case any violation of law
						  relating to the business of the applicant in the State of California is
						  committed or is suspected of having been committed by an individual who was, at
						  the time of such violation or suspected violation, an officer or employee of
						  the applicant, the applicant, so long as it maintains a California state
						  office, will, if the Commissioner requests that it do so and except to the
						  extent that it is prohibited from doing so by the laws of its domiciliary
						  jurisdiction, use its best efforts to
(i)
						  assist any proper authorities of the United States, of the State of California,
						  or of any political subdivision of the State of California to gain access to
						  such individual,
(ii) assist any
						  such authorities to obtain information which may relate, directly or
						  indirectly, to such violation or suspected violation, and
(iii) otherwise cooperate with any such
						  authorities in enforcing the laws of the United States, of the State of
						  California, and of political subdivisions of the State of California pertaining
						  to such violation or suspected violation.
(C) That an amendment or revocation of the
						  agreement shall be effective unless such revocation or amendment shall have
						  first been approved in writing by the Commissioner.
(D) That any failure by the applicant to
						  comply with any provision of the agreement shall, for purposes of the
						  provisions of Article 5 (commencing with Section
						  1830), Chapter 20, Division 1.1
						  of, and Section
						  580 of, the Financial Code, as
						  such provisions may be amended from time to time, or any statutes of similar
						  import which may be enacted from time to time, be deemed to be a violation of a
						  law of the State of California and of an order issued under Division 1
						  (commencing with Section
						  99) of the Financial
						  Code.