Section 5100.9 Of Article 2. General Definitions From California Financial Code >> Division 2. >> Chapter 1. >> Article 2.
5100.9
. "Institution-affiliated party" means any of the following:
(a) Any director, officer, employee or controlling stockholder of,
or agent for, a savings association.
(b) Any person who has filed or is required to file an application
to become a savings and loan holding company with the commissioner
pursuant to Section 5801.
(c) Any shareholder, consultant, joint venture partner, and any
other person as determined by the commissioner (by regulation or
case-by-case) who participates in the conduct of the affairs of a
savings association.
(d) Any independent contractor (including any attorney, appraiser,
or accountant) who knowingly or recklessly participates in any of
the following which caused or is likely to cause more than a minimal
financial loss to, or a significant adverse effect on, the savings
association:
(1) Any violation of law or regulation.
(2) Any breach of fiduciary duty.
(3) Any unsafe or unsound practice.