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Financial Code - FIN - FIN § 3501
Financial Code - FIN - FIN § 3501
(a) When engaging in digital financial business activity with a resident, a covered person shall provide to a resident the disclosures required by subdivision (b) and any additional disclosure the department by rule determines reasonably necessary for the protection of residents.
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Financial Code - FIN - FIN § 3503
Financial Code - FIN - FIN § 3503
(a) (1) A covered person that has control of a digital financial asset for one or more persons shall at all times maintain in its control an amount of each type of digital financial asset sufficient to satisfy the aggregate entitlements of the persons to the type of digital finan
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Financial Code - FIN - FIN § 3505
Financial Code - FIN - FIN § 3505
(a) (1) Except as provided for under paragraph (2), a covered exchange, prior to listing or offering a digital financial asset that the covered exchange can exchange on behalf of a resident, shall certify on a form provided by the department that the covered exchange has done the
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Financial Code - FIN - FIN § 3507
Financial Code - FIN - FIN § 3507
A covered person shall prominently display on its internet website a toll-free telephone number through which a resident can contact the licensee for customer service issues and receive live customer assistance. The telephone line shall be operative 10 hours per day, Monday throu
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Financial Code - FIN - FIN § 3509
Financial Code - FIN - FIN § 3509
The requirements imposed on a covered person or a covered exchange under this chapter shall be operative on July 1, 2026.
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Financial Code - FIN - FIN § 351
Financial Code - FIN - FIN § 351
(a) The chief officer of the Division of Corporations and Financial Institutions is the Senior Deputy Commissioner of Financial Protection and Innovation for the Division of Corporations and Financial Institutions. The Senior Deputy Commissioner of Financial Protection and Innova
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Financial Code - FIN - FIN § 352
Financial Code - FIN - FIN § 352
The commissioner may employ deputies in addition to the chief deputy, and examiners, appraisers, technical assistants, investigators, administrative assistants, clerks, and other employees that he or she may need to discharge in a proper manner the duties imposed upon him or her
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Financial Code - FIN - FIN § 353
Financial Code - FIN - FIN § 353
Before entering upon the duties of his or her office each deputy and examiner shall take and subscribe to the constitutional oath of office.
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Financial Code - FIN - FIN § 354
Financial Code - FIN - FIN § 354
The commissioner may require, at any time, of any deputy, examiner, or other employee of the department, an official bond in such amount as the commissioner may deem necessary. The premium for bonds required by the commissioner shall be an expense of the department.
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Financial Code - FIN - FIN § 355
Financial Code - FIN - FIN § 355
The Commissioner of Financial Protection and Innovation, the Senior Deputy Commissioner of the Division of Financial Institutions, or any deputy or employee of the Division of Financial Institutions shall not do or be any of the following with respect to any bank, savings associa
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Financial Code - FIN - FIN § 356
Financial Code - FIN - FIN § 356
If the commissioner is unable to perform his or her duties for more than 30 consecutive days or if the office of the commissioner becomes vacant, the chief deputy shall have all the powers and duties of the commissioner until the return or recovery of the commissioner, or, in cas
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Financial Code - FIN - FIN § 357
Financial Code - FIN - FIN § 357
If a deputy commissioner or any examiner has knowledge of the insolvency or unsafe condition of any licensee and willfully fails to report that fact to the commissioner in writing, he or she is guilty of a felony.
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Financial Code - FIN - FIN § 3601
Financial Code - FIN - FIN § 3601
(a) Except as provided in Section 3603, a covered person shall not exchange, transfer, or store a digital financial asset or engage in digital financial asset administration, whether directly or through an agreement with a digital financial asset control services vendor, if that
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Financial Code - FIN - FIN § 3603
Financial Code - FIN - FIN § 3603
(a) Notwithstanding subdivision (a) of Section 3601, a covered person may exchange, transfer, or store a stablecoin or engage in digital financial asset administration of that stablecoin, whether directly or through an agreement with a digital financial asset control services ven
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Financial Code - FIN - FIN § 3605
Financial Code - FIN - FIN § 3605
The requirements imposed by this chapter shall be operative on July 1, 2026.
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Financial Code - FIN - FIN § 370
Financial Code - FIN - FIN § 370
The commissioner may have an office in the City of Sacramento, the City of Los Angeles, the City of San Diego, the City and County of San Francisco, or any other location in the state that he or she considers appropriate. The commissioner shall provide at the expense of the depar
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Financial Code - FIN - FIN § 3701
Financial Code - FIN - FIN § 3701
(a) An applicant, before submitting an application, shall create and, during licensure, maintain in a record policies and procedures for all of the following: (1) An information security program and an operational security program. (2) A business continuity program. (3) A disaste
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Financial Code - FIN - FIN § 3702
Financial Code - FIN - FIN § 3702
(a) An applicant, before submitting its application, shall establish and maintain in a record a policy or procedure designed to ensure compliance with this division, and law of this state other than this division, if the other law is relevant to the digital financial asset busine
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Financial Code - FIN - FIN § 372
Financial Code - FIN - FIN § 372
The department may expend moneys in accordance with law for the necessary travel expenses of officers and employees of the department while traveling in the line of their duties either within or without the state.
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Financial Code - FIN - FIN § 373
Financial Code - FIN - FIN § 373
The commissioner shall adopt and keep an official seal. Papers executed by the commissioner in his or her official capacity pursuant to law and bearing the seal, or copies thereof certified by him or her, shall be received in evidence in like manner as the original and may be rec
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Financial Code - FIN - FIN § 374
Financial Code - FIN - FIN § 374
(a) Whenever it is necessary for the commissioner to approve any instrument and to affix his or her official seal thereto, the commissioner shall charge a fee of twenty-five dollars ($25) therefor. (b) Whenever it is proper for the department to furnish a copy of any paper that h
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Financial Code - FIN - FIN § 375
Financial Code - FIN - FIN § 375
Official reports made by the commissioner and verified reports of an examination made by the commissioner, exclusively or in conjunction with or with assistance from any agency of the United States, of a state of the United States, or of a foreign nation are prima facie evidence
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Financial Code - FIN - FIN § 376
Financial Code - FIN - FIN § 376
At least once each month, the commissioner shall issue and disseminate as the commissioner deems appropriate a bulletin containing the following information: (a) Information regarding any of the following actions taken since issuance of the previous bulletin: (1) The filing, appr
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Financial Code - FIN - FIN § 377
Financial Code - FIN - FIN § 377
Notwithstanding any other provision of this code, whenever any provision of the Financial Institutions Law requires the pledge of securities to be deposited with the Treasurer, to ensure the performance of any act or duty, the securities after first being approved by the commissi
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Financial Code - FIN - FIN § 378
Financial Code - FIN - FIN § 378
Whenever the commissioner is notified of or discovers a violation of the state law punishable by criminal penalties, he or she shall promptly advise the Attorney General.