reglab/statecodes huggingface dataset:
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 1 - Applications and Hearings: New Facilities, Branches, Changes of Location, Agencies, Conversions from a Federal to State Association, Changes of Name and Amendments of Articles of Incorporation › Section 103.114 - Hearing Procedure for Additional Evidence

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
If the commissioner determines upon good cause shown by the
					 parties of record, or determines that it is advisable or necessary for the
					 purposes of rendering a decision on an application, to hold a hearing for the
					 taking of evidence both oral and documentary to secure additional relevant
					 facts or to impeach the credibility of documents filed by parties of record,
					 the commissioner shall notify the parties of record. In the event of such a
					 hearing, the following procedures shall apply:
(a) Oaths and Affirmations. The hearing
				  officer shall administer oaths, accept affirmations and rule on the admission
				  or exclusion of evidence.
(b)
				  Subpoenas. The commissioner or hearing officer may issue a subpoena in advance
				  of or at the time of the hearing to compel the attendance of witnesses or the
				  production of records. Such subpoena may also be issued upon the request of a
				  party to the hearing when supported by an affidavit setting forth in detail the
				  pertinence and materiality of the testimony of such witnesses or the production
				  of such records to the issues to be raised at the hearing.
(c) Order of Presentation of Evidence. The
				  conduct of the hearing, including order of presentation of evidence and matters
				  in objection to the application, shall be in the discretion of the hearing
				  officer presiding at the hearing.
(d) Evidence; Examination of Witnesses.
(1) Oral evidence shall be taken only on oath
				  or affirmation.
(2) Each party of
				  record may call and examine witnesses, introduce exhibits, cross-examine
				  opposing witnesses in any matter relevant to the issue, even though that matter
				  was not covered in the direct examination, impeach any witness regardless of
				  which party called him to testify and rebut the evidence against him. If a
				  party of record does not testify in his own behalf, he may be called and
				  examined as if under cross-examination.
(3) The hearing need not be conducted
				  according to technical rules relating to evidence and witnesses.
(A) Any relevant evidence, including hearsay
				  evidence, may be admitted if it is the sort of evidence on which responsible
				  persons are accustomed to rely in the conduct of serious affairs, regardless of
				  the existence of any common law or statutory rule which might make improper the
				  admission of such evidence over objection in civil actions.
(B) The rules of privilege shall be effective
				  to the same extent that they are recognized in civil actions, and irrelevant or
				  unduly repetitious evidence shall be excluded.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 1 - Applications and Hearings: New Facilities, Branches, Changes of Location, Agencies, Conversions from a Federal to State Association, Changes of Name and Amendments of Articles of Incorporation › Section 103.115 - Official Notice

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In reaching a decision, the commissioner may take official
					 notice of the records of the Department, of the rules and requirements of the
					 Board and the Federal Savings and Loan Insurance Corporation, of any generally
					 accepted technical or scientific matter within the Department's special field,
					 and of those matters set forth in Sections
					 451 through
					 454, inclusive, of the California
					 Evidence Code.
Change
					 without regulatory effect renumbering former Section
					 146.5 to Section
					 103.115 (Register 87, No. 14). For
					 prior history, see Register 82, No. 16.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Section
						5258,
						Financial Code; and Section
						11500,
						Government Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 1 - Applications and Hearings: New Facilities, Branches, Changes of Location, Agencies, Conversions from a Federal to State Association, Changes of Name and Amendments of Articles of Incorporation › Section 103.116 - Burden of Proof

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The burden of proof shall at all times be on the applicant
					 to show that the application meets all statutory and regulatory requirements.
					 The objector shall have the burden of producing evidence in support of its
					 objections.
1. Change
					 without regulatory effect renumbering former Section
					 146.6 to Section
					 103.116 (Register 87, No. 14). For
					 prior history, see Register 82, No. 16.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Section
						5258,
						Financial Code; and Section
						11500,
						Government Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 1 - Applications and Hearings: New Facilities, Branches, Changes of Location, Agencies, Conversions from a Federal to State Association, Changes of Name and Amendments of Articles of Incorporation › Section 103.117 - Decision

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The decision of
				  the commissioner shall be in writing.
(b) Copies of the decision shall be mailed to
				  all parties of record.
1. Change
					 without regulatory effect renumbering former Section
					 146.7 to Section
					 103.117 (Register 87, No. 14). For
					 prior history, see Register 82, No. 16.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Section
						5258,
						Financial Code; and Section
						11500,
						Government Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 1 - Applications and Hearings: New Facilities, Branches, Changes of Location, Agencies, Conversions from a Federal to State Association, Changes of Name and Amendments of Articles of Incorporation › Section 103.118 - Improper Influence

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  It is improper that there be any ex parte, private, oral or written
				  communications on the merits of a pending application to the commissioner,
				  assistant commissioners, administrative adviser, or to the hearing officer in
				  the case, by any person, either in private or public life, unless requested by
				  them or otherwise required by law.
(b) It is improper that there be any effort,
				  direct or indirect, by any person to sway the judgment of the commissioner,
				  assistant commissioners, administrative adviser, or hearing officer by
				  attempting to bring pressure or influence to bear upon them.
1. Change
					 without regulatory effect renumbering former Section
					 146.8 to Section
					 103.118 (Register 87, No. 14). For
					 prior history, see Register 82, No. 16.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Section
						5258,
						Financial Code; and Section
						11500,
						Government Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 1 - Applications and Hearings: New Facilities, Branches, Changes of Location, Agencies, Conversions from a Federal to State Association, Changes of Name and Amendments of Articles of Incorporation › Section 103.119 - Violations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The commissioner may disqualify and deny, temporarily or
					 permanently, the privilege of appearing or practicing before the Department in
					 any way to any person who, after hearing by the commissioner on reasonable
					 notice, is found to have engaged in unethical or improper professional
					 conduct.
1. Change
					 without regulatory effect renumbering former Section
					 146.9 to Section
					 103.119 (Register 87, No. 14). For
					 prior history, see Register 82, No. 16.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Sections
						5018 and
						5019,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 1 - Applications and Hearings: New Facilities, Branches, Changes of Location, Agencies, Conversions from a Federal to State Association, Changes of Name and Amendments of Articles of Incorporation › Section 103.121 - Consideration of Fair Lending

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Each branch application filed under the
				  provisions of this subchapter shall describe the extent, if any, that the
				  association's affirmative loan marketing policies and programs and its
				  Community Reinvestment Act Statements would be changed or affected if the
				  branch application is approved.
(b)
				  In reaching a decision on branch applications, the commissioner may consider,
				  among other things, the extent of compliance with fair lending laws and
				  regulations, and the extent to which the association's present and anticipated
				  marketing policies and programs affirmatively further the purposes of fair
				  lending laws and regulations. Consideration of fair lending compliance pursuant
				  to this subsection shall be given special emphasis when there are competing
				  applicants for a branch facility.
1. Change
					 without regulatory effect renumbering former Section
					 147 to Section
					 103.121 (Register 87, No. 14). For
					 prior history, see Register 82, No. 16.
2. Amendment of section
					 heading, section, and NOTE filed 4-29-96; operative 5-29-96 (Register 96, No.
					 18).
Note: Authority cited: Section
						8053,
						Financial Code. Reference: Section
						6556,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 1 - Applications and Hearings: New Facilities, Branches, Changes of Location, Agencies, Conversions from a Federal to State Association, Changes of Name and Amendments of Articles of Incorporation › Section 103.122 - Waiver of Regulations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The commissioner for good cause shown may waive in whole or
					 in part any of the conditions, requirements or provisions of these
					 regulations.
1. Change
					 without regulatory effect renumbering former Section
					 147.1 to Section
					 103.122 (Register 87, No. 14). For
					 prior history, see Register 82, No. 16.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Sections
						5250 and
						5255,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 2 - Applications and Hearings for Mergers, Consolidations, or Transfers of Property and Assets of Existing Associations › Section 103.200 - Purpose and Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
This subchapter contains certain procedures and rules to be
					 followed in connection with applications and hearings for approval of mergers,
					 consolidations, or transfers of all or substantially all of the property and
					 assets of associations under the provisions of Sections
					 9200 through
					 9218, inclusive, of the Financial
					 Code.
1. Change
					 without regulatory effect renumbering former Section
					 200 to Section
					 103.200 (Register 87, No. 14). For
					 prior history, see Register 70, No. 42.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Sections
						9200
						through
						9218,
						inclusive, Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 2 - Applications and Hearings for Mergers, Consolidations, or Transfers of Property and Assets of Existing Associations › Section 103.201 - Terms Defined

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The
				  definitions set forth in Article 2, Chapter
				  1, Part 1,
				  Division 2; and Chapter 1, Part 4, Division 2; and Sections
				  1 through
				  21,
				  Financial Code, are incorporated herein by reference.
(b) For purposes of this subchapter the term
				  "merger" includes a merger, a consolidation or a transfer of all or
				  substantially all of the property and assets and stock acquisitions under
				  Financial Code Section
				  9215,
				  unless specified otherwise.
(c)
				  "Constituent association" is any association which is a party to a merger,
				  consolidation or to a transfer of property and assets.
(d) "Surviving association" means the
				  association into which one or more other associations are merged or which
				  receives by transfer all or substantially all of the property and assets of one
				  or more associations and "consolidated association" means the new association
				  into which two or more associations are consolidated.
(e) The phrase "transfer of property and
				  assets" means a transfer of all or substantially all the property and assets of
				  an association.
(f) "Disappearing
				  association" means any constituent association other than the surviving
				  association.
(g) "Registered
				  association" means any association which at the time of obtaining stockholder
				  approval of the merger is required to comply with the proxy rules of the United
				  States Securities and Exchange Commission.
(h) "Statutory net worth" has the meaning set
				  forth in Section
				  5076 of the law and Section
				  100.100(h) of the
				  regulations.
(i) "Associate" is
				  used in these regulations to indicate a relationship with any person,
				  including:
(1) any corporation or
				  organization (other than the constituent association or a majority owned
				  subsidiary of the constituent association) of which such person is an officer
				  or partner or is the beneficial owner of ten percent (10%) or more of any class
				  of securities; and
(2) any trust or
				  other estate in which such person has a substantial beneficial interest or as
				  to which such person serves as a trustee or in a similar fiduciary capacity;
				  and
(3) any relative or spouse of
				  such person, who is a member of such person's household or who is a director or
				  officer of the constituent association or any of its parents or
				  subsidiaries.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 2 - Applications and Hearings for Mergers, Consolidations, or Transfers of Property and Assets of Existing Associations › Section 103.202 - Merger Requirements

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  A merger will not ordinarily be approved if any of the constituent associations
				  have been incorporated for less than three years.
(b) The surviving association, after giving
				  effect to the merger, shall possess a net worth which is not less than an
				  amount to be determined by the commissioner after consideration of the facts in
				  each case.
1. Change
					 without regulatory effect renumbering former Section
					 202 to Section
					 103.202 (Register 87, No. 14). For
					 prior history, see Register 77, No. 11.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Sections
						9200-
						9218,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 2 - Applications and Hearings for Mergers, Consolidations, or Transfers of Property and Assets of Existing Associations › Section 103.203 - Merger Negotiations-Notice

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
One of the constituent associations shall immediately give
					 written notice to the commissioner, at the earliest time that would not violate
					 the disclosure rules of the United States Securities and Exchange Commission,
					 Stock Exchange rules, or court decisions, when the boards of directors of the
					 constituent associations adopt resolutions approving the merger or when a
					 merger agreement has been executed, whichever first occurs. One of the
					 constituent associations shall immediately notify the commissioner, in writing,
					 of the abandonment of any proposed merger.
1. Change
					 without regulatory effect renumbering former Section
					 203 to Section
					 103.203 (Register 87, No. 14). For
					 prior history, see Register 77, No. 11.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Sections
						9200-
						9218,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 2 - Applications and Hearings for Mergers, Consolidations, or Transfers of Property and Assets of Existing Associations › Section 103.204 - Merger and Acquisition Agreements

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
All agreements by a domestic association involving
					 transactions covered by this subchapter shall contain a condition requiring the
					 prior written approval of the Savings and Loan Commissioner before such merger
					 may be consummated. No agreement shall contain a provision providing for the
					 payment or forfeiture of money or other consideration, except for actual
					 expenses, in the event of the disapproval of the Savings and Loan Commissioner
					 unless such provision has been approved in advance by the
					 Commissioner.
1. Change
					 without regulatory effect renumbering former Section
					 203.1 to Section
					 103.204 (Register 87, No. 14). For
					 prior history, see Registers 77, No. 11 and 76, No.
					 18.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Section
						9200-
						9218,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 2 - Applications and Hearings for Mergers, Consolidations, or Transfers of Property and Assets of Existing Associations › Section 103.205 - Notice to Stockholders

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Promptly after execution of a merger agreement, and in any
					 event within ten days after such execution, each constituent association shall
					 mail to each of its stockholders a notice advising them that the merger
					 agreement has been executed. Such notice shall, in addition, contain the
					 following information:
(a) A statement
				  of the general terms of the merger agreement, including a description of the
				  nature and amount of consideration to be paid, and to whom, and
(b) A statement of necessary approvals from
				  state and federal authorities.
The said notice need not be mailed to any stockholder who
					 has in writing waived the right the receive the notice.
1. Change
					 without regulatory effect renumbering former Section
					 203.2 to Section
					 103.205 (Register 87, No. 14). For
					 prior history, see Register 71, No. 32.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Sections
						9200-
						9218,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 2 - Applications and Hearings for Mergers, Consolidations, or Transfers of Property and Assets of Existing Associations › Section 103.206 - Application: Places of Filing, Number of Copies, and Execution

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Applications
				  may be filed, together with the filing fee, at either the San Francisco office
				  or the Los Angeles office of the Department of Savings and Loan.
(b) Unless specified otherwise, each
				  application shall be filed in triplicate.
(c) The application shall be signed, dated
				  and verified on behalf of each constituent association by its chief executive
				  officer and its chief financial officer, and said verification shall be in
				  accordance with the provisions of the California Code of Civil
				  Procedure.
1. Change
					 without regulatory effect renumbering former Section
					 204 to Section
					 103.206 (Register 87, No. 14). For
					 prior history, see Registers 77, No. 11 and 76, No.
					 18.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Section
						9200-
						9218,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 2 - Applications and Hearings for Mergers, Consolidations, or Transfers of Property and Assets of Existing Associations › Section 103.207 - Applications: Branch, Stock Permit, Change in Designation of Office, Change of Name

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) An
				  application for merger may seek approval of the following:
(1) Acquisition of any office of a
				  constituent association as a branch office of the surviving
				  association;
(2) Issuance and sale
				  of guarantee stock;
(3) Change in
				  designation of an office;
(4)
				  Approval of amendments to articles of incorporation.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 2 - Applications and Hearings for Mergers, Consolidations, or Transfers of Property and Assets of Existing Associations › Section 103.209 - Applications: Public Inspection

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Except for data covered in subsection (b)
				  below, an application filed under this Subchapter, together with all
				  supplements, amendments and exhibits shall be open for public
				  inspection.
(b) If an applicant
				  wishes any information in its application, supplement or exhibit to be treated
				  as confidential by the Commissioner and not available for public inspection it
				  shall in its application separate and designate such information as
				  confidential. The applicant shall also attach to such information designated as
				  confidential a statement of the reasons therefor.
If the Commissioner finds good cause exists for treating
					 such information a confidential, he shall exclude the same from the application
					 available for public inspection.
1. Change
					 without regulatory effect renumbering former Section
					 2045.3 to Section
					 103.209 (Register 87, No. 14). For
					 prior history, see Register 71, No. 32.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Sections
						9200-
						9218,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 2 - Applications and Hearings for Mergers, Consolidations, or Transfers of Property and Assets of Existing Associations › Section 103.211 - Stockholder or Shareholder Approval-Written Consent

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Where two-thirds
				  (2/3) or more of the stock or
				  shares of a constituent association is held by less than twenty-five (25)
				  stockholders or shareholders, approval of a merger may be by written consent
				  such stockholders or shareholders and not by vote at a meeting duly noticed. In
				  such event, the provisions of Section
				  205 need not be complied with. In
				  the event the association solicits the written consent of such stockholders or
				  shareholders, copies of the solicitation, if in writing, and all letters,
				  written communications, material and documents in connection therewith given or
				  sent to such stockholders or shareholders shall be filed fifteen (15) days
				  prior to the date that such copies are first sent or given to stockholders or
				  shareholders or such shorter period prior to that date as the Commissioner may
				  authorize upon good cause.
(b)
				  Where two-thirds (2/3) or
				  more of the stock or shares of a constituent association are held by
				  twenty-five (25) or more stockholders or shareholders the provisions of Section
				  205 shall be applicable.
1. Change
					 without regulatory effect renumbering former Section
					 206 to Section
					 103.211 (Register 87, No. 14). For
					 prior history, see Registers 77, No. 11 and 71, No.
					 48.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Sections
						9200-
						9218,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 2 - Applications and Hearings for Mergers, Consolidations, or Transfers of Property and Assets of Existing Associations › Section 103.212 - Solicitation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A merger will
				  not ordinarily be favorable considered by the Commissioner between two
				  associations, one of which was acquired within one (1) year prior to the filing
				  of the merger application by a person, directly or indirectly, who made an
				  offer for the acquisition of any stock or class of stock of any association and
				  after consummation thereof, such person became, directly or indirectly, the
				  beneficial owner of more than twenty-five percent (25%) of such stock or class
				  of stock unless within fifteen (15) days prior to the making of such offer,
				  request, or solicitation, the prior written approval of the Commissioner was
				  obtained for such offer, solicitation or invitation and for all letters,
				  written communications, material and documents used in connection therewith,
				  given or sent to such stockholders.
(b) No association, officer, director, or
				  substantial stockholder, or any person acting on his behalf shall made a
				  general solicitation of stockholders of shareholders of another association or
				  other corporation unless the soliciting party shall have first submitted to the
				  Commissioner copies of such offer, solicitation, invitation, documents,
				  letters, and written communications and material which the association,
				  officer, director, or substantial stockholder, or any person acting on his
				  behalf proposes to use or execute in accomplishing such acquisitions at least
				  fifteen (15) days prior to such use or execution, including but not limited to
				  the following:
(1) Letters, written
				  communications, material and information to be sent to the stockholders or
				  shareholders of the corporation to be acquired;
(2) Letters, written communications,
				  material, information and proxies sent or to be sent to stockholders or
				  shareholders of the applicant association; and
(3) Information setting forth details of the
				  proposed acquisition adequate to substantiate its fairness to all
				  parties.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 2 - Applications and Hearings for Mergers, Consolidations, or Transfers of Property and Assets of Existing Associations › Section 103.213 - Certificate of Approval

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Prior to the Commissioner's issuance of the certificate of
					 approval of merger there shall be filed with the Commissioner the
					 following:
(a) Copy of letter from the
				  Federal Savings and Loan Insurance Corporation with respect to:
(1) Authorization to surviving association to
				  increase insurable account in bulk, if applicable; and
(2) Effect, if any, of merger on the
				  surviving association's insurance of accounts or continuation of insured status
				  of accounts.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 2 - Applications and Hearings for Mergers, Consolidations, or Transfers of Property and Assets of Existing Associations › Section 103.215 - Additional Information

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The Commissioner may require additional information and
					 material in connection with any application under these regulations and the
					 applicant associations may include such further and additional information as
					 may be relevant and material to the consideration of the merits of the
					 application.
1. Change
					 without regulatory effect renumbering former Section
					 209 to Section
					 103.215 (Register 87, No. 14). For
					 prior history, see Register 77, No. 11.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Sections
						9200-
						9218,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 2 - Applications and Hearings for Mergers, Consolidations, or Transfers of Property and Assets of Existing Associations › Section 103.216 - Waiver of Regulations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The Commissioner, for good cause shown, may waive in whole
					 or in part any of the conditions, requirements or provisions of these
					 regulations.
1. Change
					 without regulatory effect renumbering former Section
					 209.1 to Section
					 103.216 (Register 87, No. 14). For
					 prior history, see Register 77, No. 11.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Sections
						9200-
						9218,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 3 - Acquisition of Control of Savings and Loan Association or Savings and Loan Holding Company Registration as a Savings and Loan Holding Company › Section 103.300 - Terms Defined

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  "Domestic corporation" shall mean any corporation formed under the laws of the
				  State of California.
(b) "Foreign
				  corporation" shall mean any corporation formed under the laws of any
				  jurisdiction other than the State of California.
(c) "Voting trust" shall mean any trust under
				  the terms of which the right to vote or otherwise represent shares or other
				  voting securities is conferred upon one or more trustees.
(d) "Business trust" shall mean any trust
				  under the terms of which one or more trustees carry on a business for
				  profit.
(e) "Limited partnership"
				  shall be defined:
(1) as provided by the
				  Uniform Limited Partnership Act of the State of California (Corporations Code
				  Sections
				  15501-
				  15532)
				  or
(2) as provided by any similar
				  statute in any jurisdiction other than California.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 3 - Acquisition of Control of Savings and Loan Association or Savings and Loan Holding Company Registration as a Savings and Loan Holding Company › Section 103.301 - Determination of Status as a Savings and Loan Holding Company

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A savings and
				  loan holding company does not include any broker, underwriter or other dealer
				  in securities if securities are held on a temporary basis and for a reasonably
				  limited period of time (not exceeding 90 days unless extended by the
				  commissioner) solely for purposes of a public offering or distribution, or for
				  sale to customers in the course of business.
(b) No company shall be deemed to be a
				  savings and loan holding company solely by reason of bona fide ownership,
				  control or holding of the guarantee stock, shares, proxies of shares, or other
				  proxies, on the part of:
(1) stockholders,
				  shareholders or members, of a corporation;
(2) partners of a partnership or a limited
				  partnership;
(3) members of an
				  association or a syndicate; or
(4)
				  trustees in their private and individual capacities of a voting or business
				  trust.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 3 - Acquisition of Control of Savings and Loan Association or Savings and Loan Holding Company Registration as a Savings and Loan Holding Company › Section 103.302 - Determination of Status as a Company

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Any group or organization may file a
				  written registration application with the commissioner, requesting the
				  commissioner to determine whether it is a company within the meaning of Section
				  11501 of the law.
(b) A written application, filed in
				  duplicate, and verified shall contain such information as the commissioner may
				  require.
(c) The commissioner may
				  elect to either make or decline to make a written determination.
(d) If the decision made by the commissioner
				  pursuant to subdivision (c) is deemed adverse by the applicant, the applicant
				  may within 20 days after the date of the decision make written demand upon the
				  commissioner for a hearing. A hearing shall be scheduled and conducted as in
				  Section 103.301. A demand for hearing
				  shall vacate any prior determination made pursuant to subdivision
				  (c).
(e) No organization or group
				  of persons shall be deemed to be a company within the meaning of Section
				  11501 of the law, which the
				  commissioner has determined is not such a company, after proceedings held
				  pursuant to this Section
				  103.302.
1. Change
					 without regulatory effect renumbering former Section
					 182 to Section
					 103.302 (Register 87, No. 14). For
					 prior history, see Register 82, No. 33.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Sections
						5258 and
						11501,
						Financial Code; and Section
						11500,
						Government Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 3 - Acquisition of Control of Savings and Loan Association or Savings and Loan Holding Company Registration as a Savings and Loan Holding Company › Section 103.303 - Registration Instructions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Registration application shall be typed in duplicate and
					 filed in accordance with such instructions as the commissioner may publish from
					 time to time. Applications will be deemed to be filed upon receipt in either
					 office of the Department of Savings and Loan. The instructions shall set forth
					 the form of the registration application to be completed and filed by every
					 person and company defined as a savings and loan holding company, hereinafter
					 referred to as "Registrants." Copies of such instructions will be available at
					 either office of the Department of Savings and Loan.
1. Change
					 without regulatory effect renumbering former Section
					 183 to Section
					 103.303 (Register 87, No. 14). For
					 prior history, see Register 82, No. 33.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Section
						11550,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 3 - Acquisition of Control of Savings and Loan Association or Savings and Loan Holding Company Registration as a Savings and Loan Holding Company › Section 103.304 - Applications

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) An application
				  shall be typed and filed in triplicate in either office of the Department of
				  Savings and Loan. It shall be signed under penalty of perjury by each acquiring
				  party. A filing fee of $7,500 shall be included with the application. An
				  incorporated acquiring party shall include a certified copy of the resolution
				  of the board of directors authorizing the execution and filing of the
				  application.
(b) An application
				  shall include all of the information set out in section
				  5801 of the law and is to be
				  identified in the same numerical order unless otherwise authorized by the
				  commissioner. It shall in addition include a copy of the proposed acquisition
				  agreement and financial statements supporting the financial standing of the
				  applicant. The statements should have been examined by and supported by an
				  opinion from an independent public accountant. The commissioner may authorize
				  submission of financial statements without an accountant's examination and
				  opinion which are prepared by the applicant under penalty of perjury. It may
				  also include a statement setting forth any other relevant
				  information.
(c) An unincorporated
				  company which is required to file the information under paragraph (1) of
				  section 11706(a) shall
				  give such information for each partner of a partnership or limited partnership;
				  for each member of a syndicate or group; and for each person who controls a
				  partner or member.
(d) A
				  corporation which is required to file the information under paragraph (1) of
				  section 5801(a) shall
				  give such information for itself, for each of its officers and directors and
				  for each person who is directly or indirectly the beneficial owner of
				  twenty-five percent (25%) or more of its outstanding voting
				  securities.
1. Change
					 without regulatory effect renumbering former Section
					 185 to Section
					 103.304 (Register 87, No. 14). For
					 prior history, see Register 82, No. 33.
2. Amendment filed 7-13-90;
					 operative 8-12-90 (Register 90, No. 34).
Note: Authority cited: Sections
						8053 and
						9001,
						Financial Code. Reference: Sections
						5800 and
						5801,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 3 - Acquisition of Control of Savings and Loan Association or Savings and Loan Holding Company Registration as a Savings and Loan Holding Company › Section 103.305 - Filing Date

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The
				  date of filing of the application shall be the date the complete application is
				  filed in the office of the commissioner. An application shall be complete when
				  all amendments by the acquiring party, the information prescribed by the
				  commissioner, and any additional information requested by the commissioner are
				  also on file. Any additional information deemed necessary by the commissioner
				  to complete the application shall be requested from the applicant within 12
				  days after receipt of the incomplete application. The commissioner shall notify
				  the acquiring party of the date of filing of the complete
				  application.
(b) Applications filed
				  pursuant to Section
				  11706(c) of the
				  law shall have a concurrent filing date when filed with the
				  commissioner.
1. Change
					 without regulatory effect renumbering former Section
					 186 to Section
					 103.305 (Register 87, No. 14). For
					 prior history, see Register 82, No. 33.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Section
						11706,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 3 - Acquisition of Control of Savings and Loan Association or Savings and Loan Holding Company Registration as a Savings and Loan Holding Company › Section 103.306 - Confidential Treatment

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
An application filed under Section
					 11706, together with all
					 supplements, amendments and exhibits, shall be open for public inspection with
					 the following exceptions:
(a) An
				  applicant who wishes any information to be treated as confidential by the
				  commissioner and not available for public inspection shall separate and
				  designate such information as confidential and attach a statement of reasons.
This information shall be excluded from the application
					 available for public inspection if the commissioner finds good cause exists for
					 treating such information as confidential.
(b) If confidential treatment is requested
				  under Section
				  11706(a) of the
				  law, the request shall include substantiation that the loan was made in the
				  lender's ordinary course of business.
(c) The commissioner may also designate as
				  confidential any information in an application, if it is for the public welfare
				  or the welfare of any association that such information should not be made
				  public. The information may be withheld for such time as the commissioner may
				  deem necessary.
1. Change
					 without regulatory effect renumbering former Section
					 187 to Section
					 103.306 (Register 87, No. 14). For
					 prior history, see Register 82, No. 33.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Section
						11706,
						Financial Code; and Sections
						6253 and
						6254,
						Government Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 4 - Guarantee Stock › Section 103.400 - Permit Under Section 6450.4

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The Savings and Loan Commissioner will initiate appropriate
					 proceedings under the provisions of California Financial Code Section
					 5554 with
					 respect to any (a) sale, (b) offering, or (c) solicitation or taking of
					 subscriptions for sales, involving 10% or more of the issued and outstanding
					 guarantee stock of any association, unless:
(1) a permit authorizing the sale, offering
				  or taking of subscriptions for the sale of the guarantee stock in question
				  pursuant to the provisions of California Financial Code Section
				  6450.4 is
				  duly issued, or
(2) a prior written
				  determination is made by the Savings and Loan Commissioner that the sale,
				  offering or solicitation or taking of subscriptions for such sale is not
				  subject to the requirements of California Financial Code Section
				  6450.4.
				  Said determination shall be made on the basis of a written application which
				  shall include the names and addresses of each of the proposed legal and
				  beneficial owners of the guarantee stock, a biographical description and
				  references for each purchaser, and such additional information as the
				  Commissioner may require.
1. Change
					 without regulatory effect renumbering former Section
					 190 to Section
					 103.400 (Register 87, No. 14). For
					 prior history, see Register 82, No. 29.
Note: Authority cited: Section
						5255,
						Financial Code. Reference: Section
						6450.4,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 5 - Trust Powers › Section 103.500 - Applications

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
An association desiring to exercise trust powers, either
					 through a trust department or through an affiliate, shall file with the
					 commissioner an application indicating which trust powers it wishes to exercise
					 and providing the information necessary to make the determination under Section
					 235.41(b) of the
					 regulations.
1. Change
					 without regulatory effect renumbering former Section
					 245.2 to Section
					 103.500 (Register 87, No. 14). For
					 prior history, see Register 81, No. 5.
Note: Authority cited: Section
						5500.5,
						Financial Code. Reference: Title 10, Calif. Adm. Code, Chapter 2, Subchapter 3,
						Article 5 (Sec.
						103.500.) and Subchapter 4,
						Article 5 (Section
						104.500 et seq.); and Sections
						5003 and
						5501.5,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 6 - Investments-Service Corporations and Business Development Credit Corporations › Section 103.600 - Terms Defined

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) For
				  the purposes of this subchapter, service corporations are of three types:
(1) Common Subsidiaries. A common subsidiary
				  is a service corporation in which the stock is only available for purchase by
				  two or more domestic or federal savings and loan associations having their home
				  offices in this State;
(2) Wholly
				  Owned Subsidiaries. A wholly owned subsidiary is a service corporation in which
				  the sole stockholder is a domestic savings and loan association;
(3) Independent Service Corporations. An
				  independent service corporation is any service corporation other than a common
				  subsidiary or wholly owned subsidiary.
California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 3 - Applications and Hearings › Article 6 - Investments-Service Corporations and Business Development Credit Corporations › Section 103.601 - Articles of Incorporation and Bylaws

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The articles of incorporation and bylaws of the service
					 corporation shall be approved by the commissioner in writing, concurrent with
					 the submission of an application by an association to invest in or buy capital
					 stock, obligations or other securities of the service corporation.
(a) The articles of incorporation of each
				  common, wholly owned or independent service corporation shall provide that the
				  service corporation is organized to engage in activities as are approved by the
				  commissioner.
(b) The bylaws of a
				  common or wholly owned service corporation shall provide, and the certificates
				  of stock issued shall carry, notice that the stock shall be only available for
				  purchase by, and nontransferable other than to, a domestic or federal savings
				  and loan association having their home offices in this State.
1. Change
					 without regulatory effect renumbering former Section
					 230.1 to Section
					 103.601 (Register 87, No. 14). For
					 prior history, see Register 82, No. 52.
Note: Authority cited: Sections
						5255 and
						6702.1,
						Financial Code. Reference: Section
						6702.1,
						Financial Code.