§ 14319. — 14319. (Added by Stats. 2002, Ch. 734, Sec. 41.)

California § 14319.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 5.: DIVISION 5. CREDIT UNIONS
• Ch. 3.: CHAPTER 3. Administration and Powers of the Commissioner
• Art. 3.: ARTICLE 3. Enforcement

Text

In any case where the commissioner takes possession of a subject institution pursuant to this article 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 the action, concurrently provide to the subject institution or person a written order. The order shall set forth the condition or conditions of the subject institution or action or actions of the subject person that constitute the basis or bases for the commissioner’s action as to the subject
institution or subject person. In any case where the commissioner takes possession of a subject institution pursuant to this article, the commissioner shall establish clear evidence upon which he or she is taking action against the subject institution.

Legislative History

Added by Stats. 2002, Ch. 734, Sec. 41. Effective September 20, 2002.