Home/California/Statutes/Code FIN: Financial Code - FIN/Div. 1.: DIVISION 1. FINANCIAL INSTITUTIONS/Ch. 3.: CHAPTER 3. Department of Financial Protection and Innovation/Art. 6.: ARTICLE 6. State Banking Account/§ 409.
California Statutes

§ 409. — 409. (Added by Stats. 2011, Ch. 243, Sec. 2.)

California § 409.
JurisdictionCalifornia
Code FINFinancial Code - FIN
Div. 1.DIVISION 1. FINANCIAL INSTITUTIONS
Ch. 3.CHAPTER 3. Department of Financial Protection and Innovation
Art. 6.ARTICLE 6. State Banking Account

This text of California § 409. (409. (Added by Stats. 2011, Ch. 243, Sec. 2.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Cal. Financial Code - FIN Code § 409. (2026).

Text

If any bank or trust company fails to make timely payment of any assessment made pursuant to Section 405, 406, or 408, the commissioner may, in the commissioner’s sole discretion, (a) cancel the certificate of authority of the bank or trust company to conduct a banking or trust business or (b) levy a civil penalty pursuant to Section 329.

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Legislative History

Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.
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California § 409., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/FIN/409..