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Financial Code - FIN - FIN § 6458
Financial Code - FIN - FIN § 6458
(a) Any association may cause any or all records of the association to be copied or reproduced by any photostatic, photographic, or microfilming process that correctly and permanently copies, reproduces, or forms a medium for copying or reproducing the original record on a film o
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Financial Code - FIN - FIN § 646
Financial Code - FIN - FIN § 646
The conservator of a licensee that has been permitted to resume accepting member shares or deposits shall first cause a notice to be published in a newspaper of local circulation. The notice shall state the date on which the affairs of the licensee will be returned to its board a
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Financial Code - FIN - FIN § 647
Financial Code - FIN - FIN § 647
The commissioner may assess and collect from all licensees for whom a conservator is appointed their ratable share of the costs incurred in the administration of this article.
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Financial Code - FIN - FIN § 6475
Financial Code - FIN - FIN § 6475
(a) Each association shall maintain an adequate statutory net worth appropriate for the conduct of its business and the protection of its savings account holders. (b) The commissioner shall fix a minimum statutory net worth requirement applicable to all associations, which shall
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Financial Code - FIN - FIN § 6476
Financial Code - FIN - FIN § 6476
Each association shall set up and maintain the reserves required by, and may set up and maintain any additional reserves that are permitted by, this division. The board of directors may make additional transfers to surplus or other reserve accounts.
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Financial Code - FIN - FIN § 6477
Financial Code - FIN - FIN § 6477
Any association which, for the purpose of evading provisions of this division or any order of the commissioner, knowingly participates, directly or indirectly, in an exchange with another association of any loan, investment, or other asset held by either association in violation
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Financial Code - FIN - FIN § 648
Financial Code - FIN - FIN § 648
Any licensee that the commissioner has taken possession of pursuant to Section 592, and for which a conservator has been appointed pursuant to this article, may be reorganized under a plan that requires the consent of any of the following: (a) Customers and other creditors of the
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Financial Code - FIN - FIN § 649
Financial Code - FIN - FIN § 649
All customers, creditors, stockholders, if applicable, and other interested persons shall be given notice of any proposed plan of reorganization in the manner and at the times as the commissioner directs.
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Financial Code - FIN - FIN § 650
Financial Code - FIN - FIN § 650
No plan of reorganization shall become effective until the commissioner finds that the plan is fair and equitable to all customers, creditors, and stockholders, if applicable, and is in the public interest and until the commissioner approves the same in writing, subject to any co
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Financial Code - FIN - FIN § 6500
Financial Code - FIN - FIN § 6500
(a) Each association incorporated pursuant to or operating under the provisions of this division shall have all the powers enumerated, authorized, and permitted by this division and other rights, privileges, and powers, and may engage in any activities singly or with others, that
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Financial Code - FIN - FIN § 6501
Financial Code - FIN - FIN § 6501
An association may have perpetual existence, adopt and use a corporate seal which may be affixed by imprint, facsimile, or otherwise, and adopt and amend bylaws as provided in this division.
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Financial Code - FIN - FIN § 6502
Financial Code - FIN - FIN § 6502
An association may sue, be sued, complain, and defend in any court.
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Financial Code - FIN - FIN § 6502.5
Financial Code - FIN - FIN § 6502.5
An association may, acquire, hold, sell, develop, subdivide, dispose of, and convey real and personal property consistent with its objects and powers. It may mortgage, pledge, or lease any real or personal property and may take the property by gift, devise, or bequest.
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Financial Code - FIN - FIN § 6503
Financial Code - FIN - FIN § 6503
(a) No association or subsidiary thereof, without the prior written consent of the commissioner, shall enter into either of the following: (1) Any transaction or modification of any transaction with an affiliated person to buy, lease, or sell real or personal property, or take th
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Financial Code - FIN - FIN § 6504
Financial Code - FIN - FIN § 6504
(a) Except by the prior written consent of the commissioner, an association in organization that is not a member of a federal home loan bank may borrow money from any source not more than an aggregate amount equal to 25 percent of its assets on the date of borrowing, and may pled
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Financial Code - FIN - FIN § 6505
Financial Code - FIN - FIN § 6505
(a) An association may issue and sell, directly or through underwriters, capital certificates that represent nonwithdrawable capital contributions, and constitute part of the reserves and statutory net worth of the association. The certificates shall have no voting rights and sha
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Financial Code - FIN - FIN § 6507
Financial Code - FIN - FIN § 6507
An association may qualify as and become a member of a federal home loan bank and a home loan bank established as an agency or instrumentality of this state.
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Financial Code - FIN - FIN § 6508
Financial Code - FIN - FIN § 6508
An association may become a member of, deal with, maintain reserves or deposits with, or make reasonable payments or contributions to any organization or instrumentality whether government or private, to the extent that the organization or instrumentality assists in furthering or
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Financial Code - FIN - FIN § 6509
Financial Code - FIN - FIN § 6509
An association may act as depository for receipt of payments of federal or state taxes and loan funds, and may satisfy any related federal or state statutory or regulatory requirements, including pledging of assets as collateral, payment of interest at prescribed rates, and, notw
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Financial Code - FIN - FIN § 651
Financial Code - FIN - FIN § 651
No creditor having security for the payment of his, her, or its claim shall be affected in his, her, or its right to enforce the security by the provisions of any plan for the reorganization of the licensee. Any plan of reorganization involving the reduction of claims of creditor
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Financial Code - FIN - FIN § 6510
Financial Code - FIN - FIN § 6510
An association may sell any loan, including a participating interest in a loan, at any time.
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Financial Code - FIN - FIN § 6511
Financial Code - FIN - FIN § 6511
Loans secured by real property may be sold to, and are legal investments for, among others, any public or private pension fund, credit union, labor union fund, or public employee association and may be purchased by those institutions directly from an association. Nothing in this
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Financial Code - FIN - FIN § 6513
Financial Code - FIN - FIN § 6513
An association may service loans and investments for others.
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Financial Code - FIN - FIN § 6514
Financial Code - FIN - FIN § 6514
(a) An association may act, and receive compensation for so acting, as trustee of any trust created or organized in the United States and forming a part of a stock bonus, pension, or profit-sharing plan that qualifies for specific tax treatment under Section 401 of the Internal R
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Financial Code - FIN - FIN § 6515
Financial Code - FIN - FIN § 6515
(a) Notwithstanding any provisions of Division 1 (commencing with Section 99), Section 202 of the Corporations Code, or any other provisions of law relating to trusts and trust authority, subject to regulations of the commissioner, an association may act as trustee, executor, adm