Article 4. Administration Of The Department of California Financial Code >> Division 1. >> Chapter 3. >> Article 4.
The commissioner may have an office in the City of Sacramento,
the City of Los Angeles, the City of San Diego, the City and County
of San Francisco, or any other location in the state that he or she
considers appropriate. The commissioner shall provide at the expense
of the department such office space, furniture, and equipment as may
be necessary or convenient for the transaction of the business of the
(a) There is in the Department of Business Oversight, the
Division of Corporations, under the direction of the Senior Deputy
Commissioner of Business Oversight for the Division of Corporations.
The senior deputy commissioner has charge of the execution of the
laws of the state that were, prior to July 1, 2013, under the charge
of the Department of Corporations.
(b) There is in the Department of Business Oversight, the Division
of Financial Institutions under the direction of the Senior Deputy
Commissioner for the Division of Financial Institutions. The senior
deputy commissioner has charge of the execution of the laws of the
state that were, prior to July 1, 2013, under the charge of the
Department of Financial Institutions.
The department may expend moneys in accordance with law for
the necessary travel expenses of officers and employees of the
department while traveling in the line of their duties either within
or without the state.
The commissioner shall adopt and keep an official seal. Papers
executed by the commissioner in his or her official capacity
pursuant to law and bearing the seal, or copies thereof certified by
him or her, shall be received in evidence in like manner as the
original and may be recorded in the same manner and with the same
effect as a deed regularly acknowledged.
(a) Whenever it is necessary for the commissioner to approve
any instrument and to affix his or her official seal thereto, the
commissioner shall charge a fee of twenty-five dollars ($25)
(b) Whenever it is proper for the department to furnish a copy of
any paper that has been filed therein and to certify to the paper,
the commissioner may charge twenty-five cents ($0.25) for each page
(c) Whenever the commissioner is required or requested to certify
copies of documents, the commissioner may charge a fee of twenty-five
dollars ($25) for certifying the copied documents and for affixing
his or her official seal.
Official reports made by the commissioner and verified reports
of an examination made by the commissioner, exclusively or in
conjunction with or with assistance from any agency of the United
States, of a state of the United States, or of a foreign nation are
prima facie evidence of the facts stated in the reports for all
At least once each month, the commissioner shall issue and
disseminate as the commissioner deems appropriate a bulletin
containing the following information:
(a) Information regarding any of the following actions taken since
issuance of the previous bulletin:
(1) The filing, approval, or denial under Chapter 1 (commencing
with Section 1000) of Division 1.1 of an application for authority to
organize a California state bank, or the issuance under Chapter 3
(commencing with Section 1040) of Division 1.1 of a certificate of
authority to a California state bank.
(2) The filing, approval, or denial under Article 1 (commencing
with Section 5400) of Chapter 2 of Division 2 of an application for
the issuance of an organizing permit for the organization of a
California savings association, or for the issuance under Article 2
(commencing with Section 5500) of Chapter 2 of Division 2 of a
certificate of authority to a California savings association.
(3) The filing, approval, or denial under Article 2 (commencing
with Section 14150) of Chapter 2 of Division 5 of an application for
a certificate to act as a credit union, or the issuance of a
certificate to engage in the business of a credit union.
(4) The filing, approval, or denial under Division 1.2 (commencing
with Section 2000), Division 7 (commencing with Section 18000), or
Division 15 (commencing with Section 31000) of an application for a
license to engage in business, or the issuance under any of those
laws of a license to engage in business.
(5) The filing, approval, or denial under Chapter 20 (commencing
with Section 1750) of Division 1.1 of an application by a foreign
(other nation) bank to establish its first office of any particular
class (as determined under Section 1753) in this state, or the
issuance under that chapter of a license in connection with the
establishment of such an office.
(6) The filing, approval, or denial under Division 1.6 (commencing
with Section 4800) of an application for approval of a sale, merger,
(7) The filing, approval, or denial under Article 6 (commencing
with Section 5700) of Chapter 2 of Division 2 of an application for
approval of a conversion of a federal savings association into a
state savings association, or the filing of a federal charter of a
state savings association that has converted to a federal savings
(8) The filing, approval, or denial under Article 7 (commencing
with Section 5750) of Chapter 2 of Division 2 of an application for
approval of a reorganization, merger, consolidation, or transfer of
assets of a state savings association.
(9) The filing, approval, or denial under Chapter 9 (commencing
with Section 15200) of Division 5 of an application for approval of a
merger, dissolution, or conversion of a credit union.
(10) The taking of possession of the property and business of a
California state bank, savings association, credit union, or person
licensed by the commissioner under any of the laws cited in paragraph
(b) Other information as the commissioner deems appropriate.
Notwithstanding any other provision of this code, whenever any
provision of the Financial Institutions Law requires the pledge of
securities to be deposited with the Treasurer, to ensure the
performance of any act or duty, the securities after first being
approved by the commissioner and upon the written order of the
commissioner, shall be deposited with the Treasurer. The Treasurer,
with the consent of the owner of the securities deposited or to be
deposited with the Treasurer, may place the securities in the custody
of a qualified trust company or bank in the same manner and under
the same conditions provided in Article 3 (commencing with Section
16550) of Chapter 4 of Part 2 of Division 4 of Title 2 of the
Whenever the commissioner is notified of or discovers a
violation of the state law punishable by criminal penalties, he or
she shall promptly advise the Attorney General.
(a) For the purposes of this section the following definitions
(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
(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
(3) A director, officer, or employee of an existing or proposed
(4) An existing or proposed controlling person of a subject
(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
(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.
(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.
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.