§ 413. — 413. (Amended by Stats. 2013, Ch. 334, Sec. 25.)

California § 413.

• Jurisdiction: California
• 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

Text

(a)
In this section, “assessment statute” means any statute that authorizes the commissioner to make or collect an assessment (other than a fine) on financial institutions, including the following:
(1)
Sections 405 to 407, inclusive.
(2)
Section 2042.
(3)
Article 2 (commencing with Section 8030) of Chapter 7 of Division 2.
(4)
Article 4 (commencing with Section 14350) of Chapter 3 of Division 5.
(5)
Section 1533.
(b)
The commissioner may charge to and collect from the Financial Institutions Fund, the Credit Union Fund, each of the accounts included in the Financial Institutions Fund, and each of the programs included in the State Banking Account an amount equal to the fund’s, account’s, or program’s pro rata share of those expenses of the department which, in the opinion of the commissioner, it is not feasible to attribute to any single one of the funds, accounts, or programs. The fund’s, account’s, or program’s pro rata share shall be determined and paid in the manner and at the time ordered by the commissioner.
(c)
The provisions of any assessment statute that authorize the commissioner to make or collect an assessment for the purposes specified in the assessment statute include authority
for the commissioner to make and collect an assessment for the additional purpose of providing money in an amount that will, in the commissioner’s judgment, be sufficient to make payments that may be required under subdivision (b).

Legislative History

Amended by Stats. 2013, Ch. 334, Sec. 25. (SB 537) Effective January 1, 2014.