California Code
Financial Code - FIN
DIVISION 2 - SAVINGS ASSOCIATION LAW

CHAPTER 1 - Short Title, General Definitions, and General Provisions

ARTICLE 1 - Short Title

Section 5000. - 5000. This division may be cited as the “Savings Association...

ARTICLE 2 - General Definitions

Section 5100. - 5100. When used in this division, the words and phrases...

Section 5100.2. - 5100.2. For purposes of this division: (a) Any reference to...

Section 5100.5. - 5100.5. “Affiliated person” of a savings association means the following:...

Section 5100.6. - 5100.6. “Affiliate” of a savings association, unless otherwise defined, includes...

Section 5100.7. - 5100.7. “Controlling person” of a savings association means any person...

Section 5100.8. - 5100.8. “Immediate family” of any natural person means any of...

Section 5100.9. - 5100.9. “Institution-affiliated party” means any of the following: (a) Any...

Section 5101. - 5101. “Approved by the members,” in the case of a...

Section 5102. - 5102. (a) “Association” or “savings association” means a mutual or...

Section 5103. - 5103. “Certificate of authority” means: (a) A certificate of authority...

Section 5103.5. - 5103.5. “Commercial paper” means any note, draft, or bill of...

Section 5104. - 5104. “Commissioner” means the Commissioner of Financial Protection and Innovation....

Section 5105. - 5105. “Community” means a centralized area or locality in which...

Section 5105.5. - 5105.5. “Consumer loan” means a loan for personal, family, or...

Section 5105.8. - 5105.8. “Corporate debt security” means a marketable obligation, evidencing the...

Section 5106. - 5106. “Department” means the Department of Financial Protection and Innovation....

Section 5107. - 5107. “Financial institution” means a thrift institution, commercial bank, or...

Section 5108. - 5108. “Impaired condition” means a condition in which the assets...

Section 5109. - 5109. “Mutual association” means an association for which the articles...

Section 5110. - 5110. “Member” means a person holding a savings account of...

Section 5111. - 5111. “Mutual capital certificate” means a certificate evidencing an investment...

Section 5112. - 5112. “Net worth certificate” means a certificate issued by an...

Section 5113. - 5113. “Person” means any individual, domestic, or foreign corporation, entity,...

Section 5114. - 5114. “Primarily residential property” means real estate on which there...

Section 5114.5. - 5114.5. “Residential real estate” means any improved real property that...

Section 5115. - 5115. “Real estate loan” means a loan or other obligation...

Section 5116. - 5116. “Savings account” means that part of the savings liability...

Section 5117. - 5117. “Savings bank” means a savings bank organized under this...

Section 5117.5. - 5117.5. “Savings institution” means a financial institution as defined in...

Section 5118. - 5118. “Savings liability” means the aggregate amount of savings accounts...

Section 5119. - 5119. “Service corporation” means a corporation, other than a wholly...

Section 5120. - 5120. “Statutory net worth” or “net worth” means the sum...

Section 5121. - 5121. “Stock association” means an association for which the articles...

Section 5122. - 5122. “Stockholder” means the holder of one or more shares...

Section 5123. - 5123. “Thrift institution” means an association, a cooperative bank, a...

Section 5124. - 5124. “Withdrawal value” means the amount credited to a savings...

ARTICLE 3 - General Provisions

Section 5203. - 5203. (a) The name, rights, powers, privileges, and immunities of...

Section 5204. - 5204. (a) Wherever it is stated in this division that...

Section 5205. - 5205. Whenever the term “ association” is used in any...

Section 5205.5. - 5205.5. (a) All references in this division to financial statements,...

Section 5206. - 5206. Whenever the terms “board of directors,” “directors,” or “director”...

Section 5207. - 5207. If any provision, clause, or phrase of this division...

Section 5208. - 5208. This division, being a comprehensive coverage of its subject...

Section 5209. - 5209. Insofar as the provisions of this division are inconsistent...

ARTICLE 4 - Penalties

Section 5300. - 5300. Every person who willfully violates or willfully fails to...

Section 5301. - 5301. (a) The commissioner may refer such evidence as is...

Section 5302. - 5302. (a) Whoever knowingly violates subdivision (a) or (b) of...

Section 5303. - 5303. Any officer, director, employee, or agent of any association...

Section 5304. - 5304. (a) It is unlawful for any person to corruptly...

Section 5305. - 5305. Any institution-affiliated party who abstracts or willfully misapplies any...

Section 5306. - 5306. Any institution-affiliated party who knowingly executes, or attempts to...

Section 5307. - 5307. Whoever willfully and knowingly makes, issues, circulates, transmits, or...

Section 5308. - 5308. Whoever knowingly makes or causes to be made, directly...

Section 5309. - 5309. (a) A person shall be sentenced to consecutive terms...

Section 5310. - 5310. (a) Any person violating or conspiring to violate Sections...

Section 5311. - 5311. (a) Any fine or civil penalty imposed under this...

ARTICLE 5 - Criminal Forfeiture

Section 5320. - 5320. If a person is convicted of a violation of...

Section 5321. - 5321. (a) The prosecuting agency shall, prior to, in conjunction...

Section 5322. - 5322. (a) Any person claiming an interest in the property...

Section 5323. - 5323. (a) Concurrent with, or subsequent to, the filing of...

Section 5324. - 5324. (a) If the trier of fact at the forfeiture...

Section 5325. - 5325. Notwithstanding that no response or claim has been filed...

ARTICLE 6 - Civil Penalties

Section 5330. - 5330. The commissioner may impose civil penalties on any savings...

CHAPTER 2 - Corporate Organization and Corporate Changes

ARTICLE 1 - Organizing Permit

Section 5400. - 5400. (a) No funds from proposed stockholders, members, or organizers...

Section 5401. - 5401. The application for an organizing permit shall be in...

Section 5402. - 5402. (a) The commissioner may impose conditions in an organizing...

Section 5403. - 5403. (a) Before filing an application for an organizing permit...

ARTICLE 2 - Petition for Certificate of Authority

Section 5500. - 5500. Within 60 days after issuance of an organizing permit...

Section 5501. - 5501. Upon receipt of a petition for a certificate of...

Section 5501.5. - 5501.5. The articles of incorporation of each domestic association incorporated...

Section 5502. - 5502. The commissioner shall not approve any petition for certificate...

Section 5503. - 5503. (a) The commissioner shall, within a reasonable time after...

Section 5504. - 5504. Upon issuance of a certificate of approval of articles...

Section 5505. - 5505. The articles of incorporation of a proposed association shall...

Section 5506. - 5506. Within 30 days after the corporate existence of an...

ARTICLE 3 - Postincorporation Organization of Associations

Section 5600. - 5600. (a) The board of directors of an association which...

Section 5601. - 5601. Before a certificate of authority is issued, the capital...

Section 5602. - 5602. In addition to the minimum capital required, the commissioner...

Section 5603. - 5603. In the case of a stock association, prior to...

Section 5604. - 5604. (a) In the case of a stock association, on...

Section 5605. - 5605. (a) Any association that does not commence business within...

Section 5606. - 5606. (a) Prior to doing business in this state, an...

Section 5612. - 5612. For the purposes of this article, “security” means any...

Section 5613. - 5613. (a) No association shall sell, except upon a sale...

Section 5614. - 5614. (a) Except as provided in subdivision (b), no issued...

Section 5615. - 5615. An application for a permit to sell securities shall...

Section 5616. - 5616. Upon the filing of the application for a permit...

Section 5617. - 5617. Every permit to sell securities shall recite in bold...

Section 5618. - 5618. The commissioner may amend, alter, or revoke any permit...

ARTICLE 4 - Issuance of Stock and Certificates

Section 5620. - 5620. (a) A stock association may issue shares of common...

Section 5621. - 5621. (a) With the approval of the commissioner, a mutual...

Section 5622. - 5622. Capital stock of a stock association shall be issued...

Section 5623. - 5623. A mutual association may issue mutual capital certificates in...

Section 5624. - 5624. An association may issue net worth certificates in accordance...

ARTICLE 5 - Association Name, Office

Section 5650. - 5650. Notwithstanding the provisions of subdivision (a) of Section 201...

Section 5651. - 5651. (a) No certificate of approval of articles of incorporation...

Section 5652. - 5652. Except as otherwise authorized under existing law, no person,...

Section 5653. - 5653. Upon application by the commissioner or any association, a...

Section 5654. - 5654. (a) Without the prior approval of the commissioner, as...

Section 5655. - 5655. No association shall advertise or hold itself out to...

ARTICLE 6 - Conversions

Section 5700. - 5700. A state association may convert itself into a federal...

Section 5701. - 5701. At any regular or special meeting called to consider...

Section 5702. - 5702. Any executor, administrator, guardian, conservator of a natural person...

Section 5703. - 5703. Promptly after the meeting approving a conversion into a...

Section 5704. - 5704. A certified copy of the certificate required by Section...

Section 5705. - 5705. After the meeting of the stockholders and members, the...

Section 5706. - 5706. At the time the conversion into a federal association...

Section 5707. - 5707. The converted federal association shall have, hold, and enjoy...

Section 5708. - 5708. Where a copy of a charter of a federal...

Section 5709. - 5709. Any federal association may convert itself into an association...

Section 5710. - 5710. At any regular or special meeting called to consider...

Section 5711. - 5711. Copies of the minutes of the proceedings of the...

Section 5712. - 5712. The verified copies of the minutes of the meeting,...

Section 5713. - 5713. After a meeting as provided for in Section 5710,...

Section 5714. - 5714. The directors of an association converted from a federal...

Section 5715. - 5715. Promptly after the filing of the articles of incorporation...

Section 5716. - 5716. Upon the filing of the articles of incorporation with...

Section 5717. - 5717. The converted association shall have, hold, and enjoy the...

Section 5718. - 5718. In the event stock is to be issued by...

ARTICLE 7 - Power to Reorganize, Merge, Consolidate, or Transfer Assets

Section 5750. - 5750. (a) Pursuant to a plan or agreement (referred to...

Section 5751. - 5751. At the sole discretion of the commissioner a public...

Section 5752. - 5752. Applications filed under this article shall be accompanied by...

Section 5753. - 5753. The provisions of Chapter 13 (commencing with Section 1300)...

Section 5754. - 5754. In a merger the agreement shall state any matters...

Section 5755. - 5755. When a merger or consolidation agreement has been approved...

Section 5756. - 5756. Any amendment to a merger or consolidation agreement may...

Section 5757. - 5757. Notwithstanding any other provision of law, the approval of...

Section 5758. - 5758. The executed agreement, or an executed counterpart of it...

Section 5759. - 5759. An association may acquire all or at least 90...

Section 5760. - 5760. (a) Any association, owning all the outstanding stock of...

Section 5761. - 5761. The directors of an association may, in their discretion,...

Section 5762. - 5762. The commissioner may adopt rules and regulations relating to...

ARTICLE 8 - Holding Companies and Stock Acquisitions

Section 5800. - 5800. For the purposes of this article the following words...

Section 5801. - 5801. (a) Except as provided in subdivision (b), no person...

Section 5802. - 5802. The commissioner shall within 60 days after the date...

Section 5803. - 5803. (a) After the decision under this article by the...

Section 5804. - 5804. (a) Within 60 days following approval, or a later...

Section 5806. - 5806. Each savings and loan holding company, which is not...

Section 5807. - 5807. When a savings and loan holding company has satisfied...

Section 5808. - 5808. No association that is a subsidiary in this state...

Section 5809. - 5809. (a) The commissioner from time to time may require...

Section 5810. - 5810. The commissioner shall have the enforcement powers with respect...

Section 5811. - 5811. This article shall not apply to an acquisition of...

ARTICLE 9 - Dissolution

Section 5850. - 5850. (a) An association may dissolve pursuant to the General...

ARTICLE 10 - Mutual Holding Companies

Section 5860. - 5860. Notwithstanding any other provision of law, but subject to...

Section 5861. - 5861. Upon transfer of assets and assumption of liabilities pursuant...

Section 5862. - 5862. A reorganization of a mutual association pursuant to this...

Section 5863. - 5863. An application to the commissioner for approval of a...

Section 5864. - 5864. In connection with reorganization pursuant to the provisions of...

Section 5865. - 5865. A mutual holding company shall be deemed to be...

Section 5866. - 5866. Sections 5801, 5802, and 5803 shall not apply to...

Section 5867. - 5867. Notwithstanding any other provision of law, a reorganized stock...

Section 5868. - 5868. A reorganized stock association shall have the power to...

CHAPTER 3 - Corporate Administration

ARTICLE 1 - Meetings of Members of Mutual Associations

Section 6000. - 6000. An annual meeting of the members of each mutual...

Section 6001. - 6001. Special meetings of the members of a mutual association...

Section 6002. - 6002. Notice of each annual and special meeting shall be...

Section 6003. - 6003. In the consideration of all questions requiring action by...

Section 6004. - 6004. (a) In order that the association may determine the...

Section 6005. - 6005. At any meeting of the members, voting may be...

Section 6006. - 6006. Any number of members present at a regular or...

ARTICLE 2 - Access to Books and Records; Communication with Stockholders or Members; Derivative Actions

Section 6050. - 6050. (a) The register of stockholders or members, the books...

Section 6051. - 6051. (a) If any member, members, stockholder or stockholders desire...

Section 6052. - 6052. (a) No action may be instituted or maintained in...

Section 6053. - 6053. In the case of an association which converts from...

ARTICLE 3 - Financial Statement Publication

Section 6100. - 6100. Each association shall prepare and publish annually within the...

ARTICLE 4 - Directors

Section 6150. - 6150. (a) The business of each association shall be directed...

Section 6151. - 6151. No person shall be eligible for election or shall...

Section 6152. - 6152. (a) A director shall automatically cease to be a...

Section 6153. - 6153. Directors shall be elected for periods of three years...

Section 6154. - 6154. If the members or stockholders fail to elect a...

Section 6155. - 6155. Whenever the number of directors is changed and vacancies...

Section 6156. - 6156. (a) Any vacancy among directors, not filled by the...

Section 6157. - 6157. Every savings association subject to the new director or...

ARTICLE 5 - Indemnity Bonds

Section 6200. - 6200. Except as provided in subdivision (b) of Section 6203,...

Section 6201. - 6201. Associations that employ collection agents, who for any reason...

Section 6202. - 6202. No indemnity bond coverage is required of any agent...

Section 6203. - 6203. (a) The amounts and form of indemnity bonds and...

Section 6204. - 6204. Indemnity bonds shall provide that their cancellation either by...

ARTICLE 6 - Records

Section 6450. - 6450. Each association shall keep correct and complete books and...

Section 6451. - 6451. (a) Except as provided in subdivision (b), each agency...

Section 6452. - 6452. Each association shall observe generally accepted accounting principles and...

Section 6453. - 6453. Each association shall close its books at the close...

Section 6454. - 6454. No association by any system of accounting or any...

Section 6455. - 6455. (a) Each association shall maintain complete loan and investment...

Section 6456. - 6456. Each mutual association shall maintain membership records which shall...

Section 6457. - 6457. Each capital stock association shall maintain a register of...

Section 6458. - 6458. (a) Any association may cause any or all records...

ARTICLE 7 - Statutory Net Worth; Reserve Accounts

Section 6475. - 6475. (a) Each association shall maintain an adequate statutory net...

Section 6476. - 6476. Each association shall set up and maintain the reserves...

Section 6477. - 6477. Any association which, for the purpose of evading provisions...

CHAPTER 4 - Powers of Associations

ARTICLE 1 - General Powers

Section 6500. - 6500. (a) Each association incorporated pursuant to or operating under...

Section 6501. - 6501. An association may have perpetual existence, adopt and use...

Section 6502. - 6502. An association may sue, be sued, complain, and defend...

Section 6502.5. - 6502.5. An association may, acquire, hold, sell, develop, subdivide, dispose...

Section 6503. - 6503. (a) No association or subsidiary thereof, without the prior...

Section 6504. - 6504. (a) Except by the prior written consent of the...

Section 6505. - 6505. (a) An association may issue and sell, directly or...

Section 6507. - 6507. An association may qualify as and become a member...

Section 6508. - 6508. An association may become a member of, deal with,...

Section 6509. - 6509. An association may act as depository for receipt of...

Section 6510. - 6510. An association may sell any loan, including a participating...

Section 6511. - 6511. Loans secured by real property may be sold to,...

Section 6513. - 6513. An association may service loans and investments for others....

Section 6514. - 6514. (a) An association may act, and receive compensation for...

Section 6515. - 6515. (a) Notwithstanding any provisions of Division 1 (commencing with...

Section 6516. - 6516. (a) Subject to regulations issued by the commissioner, an...

Section 6517. - 6517. Subject to Regulation E (12 CFR Part 205) and...

Section 6518. - 6518. (a) An association may maintain and rent safes, boxes,...

Section 6519. - 6519. An association may sell money orders, travel checks, and...

Section 6520. - 6520. An association, service corporation, or a person authorized in...

Section 6521. - 6521. (a) Notwithstanding the provisions of Division 6 (commencing with...

Section 6522. - 6522. (a) An association that declares and pays dividends may...

Section 6523. - 6523. (a) An association may use advertising, whether printed, broadcasted...

Section 6524. - 6524. An association may organize, sponsor, operate, control, or render...

Section 6525. - 6525. (a) Notwithstanding the provisions of Sections 1051, 1052, and...

Section 6525.5. - 6525.5. Except with the prior written consent of the commissioner:...

Section 6526. - 6526. An association may issue commercial and standby letters of...

Section 6527. - 6527. If a loan or other investment is authorized under...

Section 6528. - 6528. An association may provide correspondent services primarily to other...

Section 6529. - 6529. (a) No affiliated person of a savings association may...

Section 6530. - 6530. (a) No savings association may discharge or otherwise discriminate...

ARTICLE 2 - Branching and Agency Powers

Section 6550. - 6550. (a) A branch office is a legally established place...

Section 6551. - 6551. (a) An agency of an association is a place...

Section 6552. - 6552. No association may establish or maintain a branch office...

Section 6553. - 6553. (a) Each application for approval of the establishment and...

Section 6554. - 6554. Upon receipt of a complete application for a branch...

Section 6555. - 6555. (a) Before acting on an application for a branch...

Section 6556. - 6556. (a) Upon review of the application for a branch...

Section 6557. - 6557. The provisions of this article relating to branch office...

Section 6558. - 6558. The commissioner may adopt rules and regulations relating to...

CHAPTER 5 - Savings Operations

ARTICLE 1 - Savings Liability

Section 6600. - 6600. The savings liability of an association shall consist only...

Section 6601. - 6601. Except as limited by the association from time to...

Section 6602. - 6602. Savings accounts may be opened for cash or, subject...

Section 6603. - 6603. No member of a mutual association is responsible for...

ARTICLE 2 - Savings Accounts

Section 6651. - 6651. Except for savings accounts issued in marketable or bearer...

Section 6652. - 6652. (a) Upon the filing with an association by the...

Section 6653. - 6653. (a) No association shall, directly or indirectly, for the...

Section 6653.5. - 6653.5. (a) A troubled savings association may not accept funds...

Section 6660. - 6660. (a) For the purposes of this section: (1) “Account”...

Section 6661. - 6661. Notice to an association or federal association of an...

Section 6662. - 6662. Nothing in this chapter shall prohibit an association or...

Section 6663. - 6663. If any attachment is levied upon any savings account...

ARTICLE 3 - Contracts for Savings Programs

Section 6700. - 6700. An association may contract with the proper authorities of...

Section 6701. - 6701. An association may contract with any employer, as follows:...

Section 6702. - 6702. An association may pay commissions or fees in cash...

ARTICLE 4 - Powers of Attorney on Savings Accounts

Section 6725. - 6725. (a) Notwithstanding any other provision of law, an association...

ARTICLE 5 - Married Persons and Minors

Section 6750. - 6750. Except as otherwise expressly provided in this article, an...

Section 6751. - 6751. Any payment or delivery of rights to a married...

Section 6752. - 6752. (a) In the case of a minor, the receipt,...

ARTICLE 6 - Multiple-Party Accounts

Section 6800. - 6800. An account in an association or federal association that...

Section 6804. - 6804. No association or federal association paying any survivor in...

Section 6805. - 6805. The pledge or hypothecation to any association or federal...

ARTICLE 7 - Accounts of Administrators, Executors, Guardians, Custodians, Trustees, and Other Fiduciaries

Section 6850. - 6850. Any association may accept fiduciary savings accounts in the...

Section 6851. - 6851. (a) The withdrawal value of a fiduciary account, and...

Section 6852. - 6852. (a) Whenever a person holding an account in a...

Section 6855. - 6855. No association paying any fiduciary, beneficiary, or designated person...

Section 6856. - 6856. The provisions of this article apply to federal associations...

ARTICLE 8 - Accounts of Incompetents

Section 6900. - 6900. If an association or federal association has received no...

ARTICLE 9 - Accounts of Deceased Nonresidents

Section 6950. - 6950. (a) When a savings account is held in any...

Section 6951. - 6951. No action at law or in equity shall be...

ARTICLE 10 - Savings Accounts as Legal Investments and as Security; Public Funds

Section 7000. - 7000. (a) Administrators, executors, custodians, conservators, guardians, trustees, and other...

Section 7001. - 7001. (a) Whenever, under the laws of this state or...

Section 7002. - 7002. The provisions of this article supplement any and all...

ARTICLE 11 - Interest

Section 7050. - 7050. An association may issue savings accounts earning interest at...

Section 7051. - 7051. An association may classify its savings accounts on any...

Section 7052. - 7052. Except for accounts that are classified according to a...

Section 7053. - 7053. (a) The date of investment in a savings account...

Section 7054. - 7054. The board of directors, by resolution, may determine any...

Section 7055. - 7055. The directors shall determine the method of calculating the...

ARTICLE 12 - Withdrawals

Section 7100. - 7100. (a) Notwithstanding any other provision of law, but subject...

ARTICLE 13 - Redemption

Section 7150. - 7150. At any time funds are on hand for the...

Section 7151. - 7151. Except with the prior consent of the commissioner, no...

Section 7152. - 7152. The redemption price of savings accounts redeemed shall be...

Section 7153. - 7153. If the notice of redemption under Section 7150 has...

Section 7154. - 7154. (a) All certificates of ownership evidencing former savings accounts...

CHAPTER 6 - Investment Operations

ARTICLE 1 - Required Liquidity

Section 7200. - 7200. No association shall invest in any security under this...

ARTICLE 2 - Investment in Securities

Section 7250. - 7250. Notwithstanding any other provision of law, an association may...

Section 7250.5. - 7250.5. No savings association may directly or indirectly acquire or...

Section 7251. - 7251. An association holding investments which have been approved by...

Section 7252. - 7252. (a) Notwithstanding any other provisions of this chapter, an...

ARTICLE 2.5 - Other Authorized Investments in Bonds and Securities

Section 7260. - 7260. Stock of a Federal Reserve bank. (Added by Stats....

Section 7261. - 7261. Bonds of the State of California and those for...

Section 7262. - 7262. Bonds of any flood control and water conservation districts,...

Section 7263. - 7263. Bonds of any other political subdivision, public corporation, or...

Section 7264. - 7264. Bonds or other evidences of indebtedness of, or which...

Section 7265. - 7265. Bonds of any irrigation district, water, storage district, water...

Section 7266. - 7266. Bonds, consolidated bonds, collateral trust debentures, consolidated debentures, or...

Section 7267. - 7267. Bonds, notes, or other obligations issued by the Federal...

Section 7268. - 7268. (a) Notes with a maturity not exceeding 15 months...

Section 7269. - 7269. In revenue securities of any state of the United...

Section 7270. - 7270. Bonds of any local public housing agency (as defined...

Section 7271. - 7271. Bonds secured by an insurance commitment of the Federal...

Section 7272. - 7272. Evidences of indebtedness of companies incorporated in the United...

Section 7273. - 7273. Fixed interest railroad bonds meeting the requirements of subdivisions...

Section 7274. - 7274. Bonds and debentures of gas, electric, or gas and...

Section 7275. - 7275. As used in this article, “funded debt” means all...

ARTICLE 3 - Investment in Business Property

Section 7300. - 7300. (a) Each association shall have power to invest in...

ARTICLE 4 - Purchase of Real Estate

Section 7350. - 7350. (a) An association may acquire and hold stock of...

ARTICLE 5 - Investment in Loans

Section 7450. - 7450. (a) An association may make any loan authorized by...

Section 7450.2. - 7450.2. Except with the prior written consent of the commissioner,...

Section 7451. - 7451. Except as otherwise provided by the commissioner, an association...

Section 7452. - 7452. (a) An association may make consumer loans, provided that...

Section 7453. - 7453. (a) An association may make, invest in, sell, purchase,...

Section 7454. - 7454. Each association is authorized to issue credit cards, extend...

Section 7455. - 7455. No association or director, officer, or employee of an...

Section 7456. - 7456. Any loan commitment made by an association shall be...

Section 7457. - 7457. An association may make loans on the security of...

Section 7458. - 7458. An association may make overdraft loans specifically related to...

Section 7459. - 7459. In addition to establishing reserves pursuant to Section 6476,...

Section 7460. - 7460. (a) Notwithstanding Section 726 of the Code of Civil...

Section 7461. - 7461. The provisions of any deed of trust or mortgage...

Section 7462. - 7462. The provisions of any deed of trust or mortgage...

ARTICLE 6 - Real Estate Loans

Section 7500. - 7500. (a) Subject to limitations, if any, within this chapter,...

Section 7501. - 7501. Each real estate loan shall be evidenced by a...

Section 7502. - 7502. (a) Each real estate loan shall be secured by...

Section 7503. - 7503. Except as specified by the loan contract or by...

Section 7504. - 7504. Notwithstanding any other provision of law, an association may...

Section 7505. - 7505. (a) Notwithstanding any other provision of law, an association...

Section 7505.5. - 7505.5. (a) A savings association may make loans the principal...

Section 7506. - 7506. Notwithstanding any other provision of the law, an association...

Section 7507. - 7507. (a) An association may make loans or advances of...

Section 7509. - 7509. (a) (1) At the time of origination, a real...

ARTICLE 7 - Successors in Interest in Loans

Section 7600. - 7600. In the case of any investment made by an...

ARTICLE 8 - Salvage of Loans and Investments

Section 7650. - 7650. (a) Except as provided in subdivision (b), nothing in...

ARTICLE 9 - Usury Exemption

Section 7675. - 7675. (a) Pursuant to the authority contained in Section 1...

ARTICLE 10 - Finance Leasing

Section 7700.3. - 7700.3. An association may engage in leasing activities that are...

Section 7701. - 7701. An association may become the legal or beneficial owner...

Section 7702. - 7702. (a) A lease of tangible personal property made to...

Section 7703. - 7703. For the purposes of this article: (a) A “net...

Section 7704. - 7704. If, in good faith, an association believes that there...

ARTICLE 10.5 - Leasing

Section 7720. - 7720. (a) An association may invest in tangible personal property,...

ARTICLE 11 - Hazard Insurance

Section 7800. - 7800. Subject to the provisions of Section 2955.5 of the...

CHAPTER 7 - Supervision

ARTICLE 1 - Department of Savings and Loan

Section 8009. - 8009. (a) Except where required by law, regulation, or court...

Section 8010. - 8010. The commissioner, after a determination of value made in...

ARTICLE 2 - Savings and Loan Account

Section 8030. - 8030. (a) To meet the operating costs and expenses of...

Section 8031. - 8031. The proportion of operating costs and expenses to be...

Section 8032. - 8032. (a) On or before the 20th day of June...

Section 8033. - 8033. If an association ceases to be an association by...

Section 8034. - 8034. (a) If a new domestic association is formed during...

Section 8035. - 8035. If any domestic association proposes to acquire the assets...

Section 8035.5. - 8035.5. As of the operative date of this section: (a)...

Section 8036. - 8036. All money collected or received by the commissioner under...

Section 8037. - 8037. All expenses of the department in administering the division...

ARTICLE 3 - General Supervisory Powers and Duties of Commissioner

Section 8050. - 8050. (a) The commissioner shall have general supervision over all...

Section 8051. - 8051. Each decision, order, or instruction shall be in writing...

Section 8053. - 8053. The commissioner may from time to time issue, amend...

Section 8054. - 8054. (a) Notwithstanding any other provision of law, whenever by...

Section 8055. - 8055. Every final decision of the commissioner is subject to...

ARTICLE 4 - Reports and Examinations

Section 8150. - 8150. (a) On or before the last day of January...

Section 8151. - 8151. Each association, savings and loan holding company and subsidiary...

Section 8152. - 8152. From time to time the commissioner may, without previous...

Section 8153. - 8153. (a) In lieu of a report or an examination...

Section 8154. - 8154. (a) Whenever, in the judgment of the commissioner, the...

Section 8155. - 8155. (a) The commissioner is authorized in connection with any...

Section 8156. - 8156. (a) Each association shall at least annually cause its...

Section 8157. - 8157. (a) The commissioner may prescribe the scope of the...

Section 8158. - 8158. (a) The commissioner, or any department employee authorized by...

Section 8159. - 8159. For each department examination or appraisal made outside this...

Section 8160. - 8160. If an association, savings and loan holding company, or...

ARTICLE 5 - Enforcement

Section 8200. - 8200. The commissioner may issue cease and desist orders which...

Section 8201. - 8201. (a) Whenever the commissioner determines that any institution-affiliated party...

Section 8202. - 8202. (a) The commissioner shall publish and make the following...

ARTICLE 6 - Conservatorship

Section 8225. - 8225. (a) Whenever the commissioner deems it necessary in order...

Section 8226. - 8226. Any conservator shall have all the rights, powers, and...

Section 8227. - 8227. Except as authorized by the commissioner, the conservator shall...

Section 8228. - 8228. The directors and officers shall remain in office and...

Section 8229. - 8229. (a) While the association is in the charge of...

Section 8230. - 8230. Whenever a conservator has taken possession of the property...

ARTICLE 7 - Receivership

Section 8250. - 8250. (a) If the commissioner finds that any association (1)...

Section 8251. - 8251. (a) In the case of an insured association, the...

Section 8252. - 8252. If the commissioner or a department employee is appointed...

Section 8253. - 8253. If the association is an institution insured by the...

Section 8254. - 8254. Whenever a receiver has taken possession of the property...

CHAPTER 8 - Federal Associations

Section 8500. - 8500. (a) Every federal association and the holders of stock,...

Section 8501. - 8501. No director of a federal association shall be liable...

CHAPTER 9 - Fees

Section 9000. - 9000. Associations shall pay all fees required by this division...

Section 9001. - 9001. (a) Except where otherwise expressly provided, the commissioner shall...

CHAPTER 10 - Foreign (National) Savings Companies

Section 10000. - 10000. Terms not expressly defined in this chapter have the...

Section 10001. - 10001. (a) No person, other than a California savings association...

Section 10002. - 10002. Notwithstanding Section 10001, and subject to Section 10003, on...

Section 10003. - 10003. No foreign savings association may conduct the business of...

Section 10004. - 10004. Except as expressly provided for in this chapter, any...

Section 10005. - 10005. For the purposes of this article and any other...

Section 10006. - 10006. Except as provided by regulation, this division applies to...

Section 10007. - 10007. If a foreign savings association is controlled by a...

Section 10009. - 10009. This chapter shall become operative on January 1, 1991....