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Financial Code - FIN - FIN § 7151
Financial Code - FIN - FIN § 7151
Except with the prior consent of the commissioner, no association shall redeem any of its savings accounts when the association is in an impaired condition and when it has applications for withdrawal that have been on file more than 14 days and have not been reached for payment.
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Financial Code - FIN - FIN § 7152
Financial Code - FIN - FIN § 7152
The redemption price of savings accounts redeemed shall be the full value of the account redeemed, as determined by the board of directors, but in no event shall the redemption price be less than the withdrawal value.
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Financial Code - FIN - FIN § 7153
Financial Code - FIN - FIN § 7153
If the notice of redemption under Section 7150 has been given, and if on or before the redemption date the funds necessary for the redemption have been set aside and continue to be available for the redemption, interest upon the accounts called for redemption shall cease to accru
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Financial Code - FIN - FIN § 7154
Financial Code - FIN - FIN § 7154
(a) All certificates of ownership evidencing former savings accounts that have been called for redemption must be tendered for payment within the time limit specified in subdivision (b) of Section 1513 of the Code of Civil Procedure for escheat of unclaimed funds. (b) Savings acc
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Financial Code - FIN - FIN § 720
Financial Code - FIN - FIN § 720
Any licensee that voluntarily has ceased to do the business for which it is licensed shall immediately notify the commissioner and proceed to liquidate its affairs. Any share or deposit or other sum that has not been paid to the person entitled thereto within six months after the
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Financial Code - FIN - FIN § 7200
Financial Code - FIN - FIN § 7200
No association shall invest in any security under this chapter, other than in liquid assets, or in any loan at any time if the association fails to meet the minimum liquidity requirements prescribed by Section 566.2 of Title 12 of the Code of Federal Regulations, unless the commi
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Financial Code - FIN - FIN § 721
Financial Code - FIN - FIN § 721
If the licensee referred to in Section 720 is a state-chartered credit union and the commissioner has taken possession of the business and property of the credit union, the commissioner may appoint a liquidating agent or a liquidating committee of three members of the credit unio
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Financial Code - FIN - FIN § 7250
Financial Code - FIN - FIN § 7250
Notwithstanding any other provision of law, an association may invest in the following securities without limit, and in addition may invest not in excess of 5 percent of its assets in other securities that are deemed prudent by the association: (a) Bonds or other interest bearing
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Financial Code - FIN - FIN § 7250.5
Financial Code - FIN - FIN § 7250.5
No savings association may directly or indirectly acquire or retain any corporate debt security unless the corporate debt security is rated in one of the four highest rating categories by at least one nationally recognized rating service.
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Financial Code - FIN - FIN § 7251
Financial Code - FIN - FIN § 7251
An association holding investments which have been approved by the commissioner shall not be required to dispose of them or to establish a reserve account if later the commissioner rescinds approval of the investments.
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Financial Code - FIN - FIN § 7252
Financial Code - FIN - FIN § 7252
(a) Notwithstanding any other provisions of this chapter, an association may, subject to regulations of the commissioner, invest in the capital stock, obligations, or other securities of service corporations. (b) The total of all investments under this section shall not exceed 10
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Financial Code - FIN - FIN § 7260
Financial Code - FIN - FIN § 7260
Stock of a Federal Reserve bank.
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Financial Code - FIN - FIN § 7261
Financial Code - FIN - FIN § 7261
Bonds of the State of California and those for which the faith and credit of the State of California are pledged for the payment of principal and interest, and registered warrants of the State of California.
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Financial Code - FIN - FIN § 7262
Financial Code - FIN - FIN § 7262
Bonds of any flood control and water conservation districts, or any zone thereof, having an assessed valuation on taxable real property of not less than one million dollars ($1,000,000), county, city and county, city, metropolitan water district, municipal utility district, any s
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Financial Code - FIN - FIN § 7263
Financial Code - FIN - FIN § 7263
Bonds of any other political subdivision, public corporation, or district of the State of California (herein referred to generally as public corporations) having the power, without limit as to rate or amount, to levy taxes to pay the principal and interest of those bonds upon all
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Financial Code - FIN - FIN § 7264
Financial Code - FIN - FIN § 7264
Bonds or other evidences of indebtedness of, or which are unconditionally guaranteed by the State of Israel, the United States of Mexico, the Commonwealth of Puerto Rico, or any state of the United States other than California, for the payment of both principal and interest of wh
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Financial Code - FIN - FIN § 7265
Financial Code - FIN - FIN § 7265
Bonds of any irrigation district, water, storage district, water conservation district, county water district, reclamation district, drainage district, and any district the primary function of which is the irrigation, reclamation, or drainage of land within its boundaries, locate
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Financial Code - FIN - FIN § 7266
Financial Code - FIN - FIN § 7266
Bonds, consolidated bonds, collateral trust debentures, consolidated debentures, or other obligations issued by federal land banks or federal intermediate credit banks established under the Federal Farm Loan Act, as amended, the Farm Credit Act of 1971, in debentures and consolid
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Financial Code - FIN - FIN § 7267
Financial Code - FIN - FIN § 7267
Bonds, notes, or other obligations issued by the Federal Financing Bank, the United State Postal Service, or issued or assumed by the International Bank for Reconstruction and Development, the Tennessee Valley Authority, the Inter-American Development Bank, the Government Develop
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Financial Code - FIN - FIN § 7268
Financial Code - FIN - FIN § 7268
(a) Notes with a maturity not exceeding 15 months after the date of issue, issued in anticipation of uncollected taxes, income, revenue, cash receipts, and other moneys of the State of California or any city, county, city and county, or school district, therefore, provided the no
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Financial Code - FIN - FIN § 7269
Financial Code - FIN - FIN § 7269
In revenue securities of any state of the United States, or of the Commonwealth of Puerto Rico, and of any city, county, city and county, political subdivision, public corporation, or district (herein referred to generally as public corporations) of any such state or commonwealth
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Financial Code - FIN - FIN § 7270
Financial Code - FIN - FIN § 7270
Bonds of any local public housing agency (as defined in the United States Housing Act of 1937, as amended) as are secured either, (a) by an agreement between the public housing agency and the Public Housing Administration in which the public housing agency agrees to borrow from t
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Financial Code - FIN - FIN § 7271
Financial Code - FIN - FIN § 7271
Bonds secured by an insurance commitment of the Federal Housing Administration.
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Financial Code - FIN - FIN § 7272
Financial Code - FIN - FIN § 7272
Evidences of indebtedness of companies incorporated in the United States and, directly or indirectly, engaged in manufacturing, extraction, merchandising, or commercial financing and in bonds of authorities established pursuant to the California Industrial Development Financing A
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Financial Code - FIN - FIN § 7273
Financial Code - FIN - FIN § 7273
Fixed interest railroad bonds meeting the requirements of subdivisions (a) and (b), bonds secured by a mortgage on jointly operated railroad facilities meeting the requirements of subdivision (c), and railroad equipment trust certificates meeting the requirements of subdivision (