§ 5606. — 5606. (Amended by Stats. 1990, Ch. 1118, Sec. 22.)

California § 5606.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 2.: DIVISION 2. SAVINGS ASSOCIATION LAW
• Ch. 2.: CHAPTER 2. Corporate Organization and Corporate Changes
• Art. 3.: ARTICLE 3. Postincorporation Organization of Associations

Text

(a)
Prior to doing business in this state, an association shall obtain and maintain insurance of its savings accounts by the Federal Deposit Insurance Corporation.
(b)
Prior to doing business in this state, a foreign savings association, as defined in Sections 10000 and 10010, shall maintain insurance of its savings accounts by the Federal Deposit Insurance Corporation.
(c)
The commissioner may enforce any statutes pertaining to, or any regulations of, the Federal Deposit Insurance Corporation or the
Office of Thrift Supervision insofar as those statutes and regulations apply to associations, and may enforce any and all other federal statutes and regulations applicable to associations.

Legislative History

Amended by Stats. 1990, Ch. 1118, Sec. 22.