California Statutes
§ 554. — 554. (Added by Stats. 2011, Ch. 243, Sec. 2.)
California·Code FIN Financial Code - FIN·Div. 1. DIVISION 1. FINANCIAL INSTITUTIONS·Ch. 6. CHAPTER 6. Enforcement·Art. 1. ARTICLE 1. General Provisions
If the commissioner takes possession of a subject institution 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 that action, concurrently provide to the subject institution or subject 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. In any case where the commissioner takes possession of a subject institution, the commissioner shall establish, by clear evidence, the basis for his or her action.
Free access — add to your briefcase to read the full text and ask questions with AI
California § 554. (554. (Added by Stats. 2011, Ch. 243, Sec. 2.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.