Section 411 Of Article 6. State Banking Account From California Financial Code >> Division 1. >> Chapter 3. >> Article 6.
411
. Except as otherwise provided in Section 413 or 414, all
salaries and other expenses of the department, other than those
incurred in administering laws relating to savings associations or
the savings association business, credit unions or the credit union
business, industrial banks, the industrial banking business,
insurance premium finance agencies, the insurance premium finance
business, or Article 2 (commencing with Section 53630) of Chapter 4
of Part 1 of Division 2 of Title 5 of the Government Code, shall be
paid out of the State Banking Account in the Financial Institutions
Fund. Salaries and other expenses incurred in the liquidation or
conservation of any bank (other than an industrial bank) or of any
person licensed under Division 1.2 (commencing with Section 2000) or
Division 15 (commencing with Section 31000), including the
compensation of employees of the department to the extent that they
are engaged in that liquidation or conservation, if possible, and if
advanced from the State Banking Account in the Financial Institutions
Fund, shall constitute a first charge against the assets of the bank
or licensee, as the case may be. Salaries and other expenses
incurred in the liquidation or conservation of any industrial bank,
including the compensation of employees of the department to the
extent that they are engaged in that liquidation or conservation, if
possible, and if advanced from the Industrial Bank Account in the
Financial Institutions Fund, shall constitute a first charge against
the assets of the industrial bank.