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Financial Code - FIN - FIN § 5325
Financial Code - FIN - FIN § 5325
Notwithstanding that no response or claim has been filed pursuant to Section 5322, in all cases where property is forfeited pursuant to this article and, where necessary, sold by the Department of General Services or local governmental entity, the money forfeited or the proceeds
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Financial Code - FIN - FIN § 5330
Financial Code - FIN - FIN § 5330
The commissioner may impose civil penalties on any savings association, and any institution-affiliated party as follows: (a) Except as provided in subdivision (b) or in subdivisions (c) and (d), any savings association which, and any institution-affiliated party who, commits any
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Financial Code - FIN - FIN § 5400
Financial Code - FIN - FIN § 5400
(a) No funds from proposed stockholders, members, or organizers of any proposed association may be collected until a verified application for an organizing permit has been filed and a permit has been issued by the commissioner authorizing collection of funds, and then only in acc
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Financial Code - FIN - FIN § 5401
Financial Code - FIN - FIN § 5401
The application for an organizing permit shall be in writing and shall be filed in the office of the commissioner. The application shall be executed and verified by the chairman of the organizers, who shall be elected by a majority vote of the organizers, and shall include the fo
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Financial Code - FIN - FIN § 5402
Financial Code - FIN - FIN § 5402
(a) The commissioner may impose conditions in an organizing permit concerning the deposit in escrow of funds collected pursuant to the permit, the manner of expenditure of the funds, and any other conditions deemed reasonable and necessary or advisable for the protection of the p
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Financial Code - FIN - FIN § 5403
Financial Code - FIN - FIN § 5403
(a) Before filing an application for an organizing permit with the commissioner under Section 5400, an organizer shall file with the Secretary of State an application for a certificate of a reservation of the name for the proposed association in accordance with the provisions of
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Financial Code - FIN - FIN § 550
Financial Code - FIN - FIN § 550
In this article: (a) “Appropriate licensee business” means the business that a licensee may conduct in accordance with the charter or license that the commissioner has issued to that licensee. (b) “Customer” means a depositor of a bank, a member of a credit union, or a customer o
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Financial Code - FIN - FIN § 5500
Financial Code - FIN - FIN § 5500
Within 60 days after issuance of an organizing permit under Article 1 (commencing with Section 5400) any person may request authority to form a capital stock or mutual association by filing with the commissioner three copies of a petition for a certificate of authority and propos
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Financial Code - FIN - FIN § 5501
Financial Code - FIN - FIN § 5501
Upon receipt of a petition for a certificate of authority, the commissioner shall give written notice to each association that a petition for the issuance of a certificate has been made. The notice shall state the name of the proposed association, where the petitioners propose to
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Financial Code - FIN - FIN § 5501.5
Financial Code - FIN - FIN § 5501.5
The articles of incorporation of each domestic association incorporated after January 1, 1984, shall include a statement that it is formed for each of the following purposes: (a) To engage primarily in the specific business of a savings association and any other lawful activities
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Financial Code - FIN - FIN § 5502
Financial Code - FIN - FIN § 5502
The commissioner shall not approve any petition for certificate of authority unless it is found from the data furnished with the petition, the evidence adduced at the hearing, if one is held, and official records, that the prerequisites of this division have been complied with an
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Financial Code - FIN - FIN § 5503
Financial Code - FIN - FIN § 5503
(a) The commissioner shall, within a reasonable time after the petition is filed, or within a reasonable time after the hearing, if one is held, either approve or deny the petition for a certificate of authority. (b) If approved, the commissioner shall issue a certificate of appr
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Financial Code - FIN - FIN § 5504
Financial Code - FIN - FIN § 5504
Upon issuance of a certificate of approval of articles of incorporation to a proposed association, the commissioner shall attach the original signed copy of the certificate of approval to the original signed copy of the articles and deliver it to the proposed association for fili
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Financial Code - FIN - FIN § 5505
Financial Code - FIN - FIN § 5505
The articles of incorporation of a proposed association shall not be filed in the office of the Secretary of State unless a certificate of approval of the articles of incorporation issued by the commissioner is attached thereto.
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Financial Code - FIN - FIN § 5506
Financial Code - FIN - FIN § 5506
Within 30 days after the corporate existence of an association begins, the directors of the association shall hold an organization meeting and shall elect officers pursuant to the provisions of this division and the bylaws. At the organization meeting, the directors shall take an
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Financial Code - FIN - FIN § 551
Financial Code - FIN - FIN § 551
Any subject person who is entitled to a hearing pursuant to this article may waive that right at any time. A waiver under this section shall relieve the commissioner from having to issue a formal notice of hearing that would otherwise be required by this article.
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Financial Code - FIN - FIN § 552
Financial Code - FIN - FIN § 552
(a) Within 30 days after an order is issued pursuant to Section 567, 581, 582, 586, or 591, or subdivision (c) of Section 587, the person to whom the order is issued may file with the commissioner an application for a hearing on the order. (b) If the commissioner fails to commenc
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Financial Code - FIN - FIN § 553
Financial Code - FIN - FIN § 553
In addition to any other action or requirement the commissioner deems necessary or advisable, an order issued pursuant to Section 580, 581, 582, 585, 586, or 587 may require the person subject to the order to do any of the following: (a) Make restitution or provide reimbursement,
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Financial Code - FIN - FIN § 554
Financial Code - FIN - FIN § 554
If the commissioner takes possession of a subject institution without a prior notice or hearing, or takes action against a subject person without prior notice or hearing, the commissioner shall, upon taking possession or taking that action, concurrently provide to the subject ins
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Financial Code - FIN - FIN § 560
Financial Code - FIN - FIN § 560
No person who has not received a certificate from the commissioner authorizing it to engage in the banking business shall solicit or receive deposits, issue certificates of deposit with or without provision for interest, make payments on checks, or transact business in the way or
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Financial Code - FIN - FIN § 5600
Financial Code - FIN - FIN § 5600
(a) The board of directors of an association which is in the process of organization shall select a financial institution within this state as a depository for stock, savings account and mutual capital certificate subscription funds. (b) The financial institution shall assure the
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Financial Code - FIN - FIN § 5601
Financial Code - FIN - FIN § 5601
Before a certificate of authority is issued, the capital of the association shall be paid into the association and, in the case of stock, shall be the sum of the par or initially stated value of all shares of capital stock, plus the initial paid-in surplus. The minimum required c
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Financial Code - FIN - FIN § 5602
Financial Code - FIN - FIN § 5602
In addition to the minimum capital required, the commissioner may require that the consideration for the issuance of capital stock shall be sufficient to create a paid-in surplus in an amount satisfactory to the commissioner. The minimum capital and surplus may be used for the re
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Financial Code - FIN - FIN § 5603
Financial Code - FIN - FIN § 5603
In the case of a stock association, prior to issuance of a certificate of authority, the association shall file with the commissioner a statement in a form and with supporting data and proof that the commissioner may require, that verifies that the entire capital and paid-in surp
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Financial Code - FIN - FIN § 5604
Financial Code - FIN - FIN § 5604
(a) In the case of a stock association, on or after the date the commissioner issues the association a certificate of authority, the association shall issue the capital stock necessary to satisfy the minimum capital requirements of Section 5601 and any additional capital stock ap