Jurris.COM
Section 6556 Of Article 2. Branching And Agency Powers From California Financial Code >> Division 2. >> Chapter 4. >> Article 2.
6556
. (a) Upon review of the application for a branch office or
agency and after a hearing on the branch application, if one is
deemed necessary, the commissioner shall determine whether all of the
following criteria are met:
(1) The applicant's policies, financial condition, and operations afford no basis for supervisory objection.
(2) The proposed branch office or agency will be opened within a reasonable time after approval, as determined by the commissioner.
(b) If the commissioner determines that the criteria set forth in subdivision (a) are met the application shall be approved.
(c) If the commissioner determines that the criteria set forth in subdivision (a) are not met the application shall be denied.
(1) The applicant's policies, financial condition, and operations afford no basis for supervisory objection.
(2) The proposed branch office or agency will be opened within a reasonable time after approval, as determined by the commissioner.
(b) If the commissioner determines that the criteria set forth in subdivision (a) are met the application shall be approved.
(c) If the commissioner determines that the criteria set forth in subdivision (a) are not met the application shall be denied.
