Financial Code - FIN - FIN § 1757

Summary

(a) In this section, “act” includes (without limitation) omission. (b) For purposes of making findings on an application by a foreign (other nation) bank for approval to establish an office: (1) The commissioner may, in the absence of credible evidence to the contrary, presume th

Text

(a)
In this section, “act” includes (without limitation) omission.
(b)
For purposes of making findings on an application by a foreign (other nation) bank for approval to establish an office:
(1)
The commissioner may, in the absence of credible evidence to the contrary, presume that the directors, executive officers, and any controlling
person of the bank and the directors and executive officers of any controlling person of the bank are each of good character and sound financial standing.
(2)
The commissioner may find that the bank, a director, executive officer, or a controlling person of the bank, or a director or executive officer of a controlling person of the bank is not of good character if that person has done any of the following:
(A)
Has been convicted of, or has pleaded nolo contendere to, any crime involving an act of fraud or dishonesty.
(B)
Has consented to or suffered a judgment in any civil action based upon conduct involving an act of fraud or dishonesty.
(C)
Has consented to or suffered the suspension or revocation of any professional, occupational, or vocational
license based upon conduct involving an act of fraud or dishonesty.
(D)
Has willfully made or caused to be made in any application or report filed with the commissioner or in any proceeding before the commissioner, any statement that was at the time and in the light of the circumstances under which it was made false or misleading with respect to any material fact, or has willfully omitted to state in any application or report filed with the commissioner or in any proceeding before the commissioner, any material fact that was required to be stated therein.
(E)
Has willfully committed any violation of, or has willfully aided, abetted, counseled, commanded, induced, or procured the violation by any other person of, any provision of this division or of any regulation or order issued under this division.
(c)
Paragraph (2)
of subdivision (b) shall not be deemed to be an exclusive list of the grounds upon which the commissioner may find, for purposes of making findings on an application by a foreign (other nation) bank for approval to establish an office, that the bank, a director, executive officer, or controlling person of the bank, or a director or executive officer of a controlling person of the bank is not of good character.

Retrieval chunks

• #1 | Financial Code - FIN - FIN § 1757

  (a) In this section, “act” includes (without limitation) omission. (b) For purposes of making findings on an application by a foreign (other nation) bank for approval to establish an office: (1) The commissioner may, in the absence of credible evidence to the contrary, presume that the directors, executive office…