Section 1832 Of Article 5. Enforcement From California Financial Code >> Division 1.1. >> Chapter 20. >> Article 5.
1832
. (a) If the commissioner finds that any of the factors set
forth in Section 1831 is true with respect to any foreign (other
nation) bank that is licensed to maintain an office and that it is
necessary, in case the bank is licensed to transact business in this
state, for the protection of the interests of creditors of the bank's
business in this state or, in any case, for the protection of the
public interest that the commissioner immediately suspend or revoke
the license of the bank, the commissioner may issue an order
suspending or revoking the license of the bank.
(b) (1) Within 30 days after an order is issued pursuant to
subdivision (a), the foreign (other nation) bank to which the order
is issued may file with the commissioner an application for a hearing
on the order. If the commissioner fails to commence the hearing
within 15 business days after the application is filed with the
commissioner (or within any longer period to which the bank
consents), the order shall be deemed rescinded. Within 30 days after
the hearing, the commissioner shall affirm, modify, or rescind the
order; otherwise, the order shall be deemed rescinded.
(2) The right of any foreign (other nation) bank to which an order
is issued under subdivision (a) to petition for judicial review of
the order shall not be affected by the failure of the bank to apply
to the commissioner for a hearing on the order pursuant to paragraph
(1).