Section 581 Of Article 3. Orders Against Licensees And Subject Persons From California Financial Code >> Division 1. >> Chapter 6. >> Article 3.
581
. If the commissioner finds that any of the factors set forth in
Section 580 is true with respect to any subject institution, subject
person, or holding company, and that the action, omission, or
violation is likely to have any of the consequences set forth in
subdivisions (a) to (d), inclusive, the commissioner may, without any
prior notice or opportunity to be heard, order the subject
institution or subject person to cease and desist from the following:
(a) Any act, omission, or violation that may cause the insolvency
of the subject institution.
(b) Any act, omission, or violation that may cause significant
dissipation of the assets or earnings of the subject institution.
(c) Any act, omission, or violation that may weaken the condition
of the subject institution.
(d) Any act, omission, or violation that may otherwise prejudice
the interests of the customers of the subject institution.