§ 5654. — 5654. (Amended by Stats. 1988, Ch. 718, Sec. 9.)

California § 5654.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 2.: DIVISION 2. SAVINGS ASSOCIATION LAW
• Ch. 2.: CHAPTER 2. Corporate Organization and Corporate Changes
• Art. 5.: ARTICLE 5. Association Name, Office

Text

(a)
Without the prior approval of the commissioner, as provided in this division, no association shall do any of the following:
(1)
Establish or maintain any office, other than its home office, which shall be in the location named in the certificate of authority.
(2)
Change the location or designation of any office from its approved location or designation.
(3)
Change its corporate name by amendment of its articles of incorporation and its
certificate of authority. A change of name is subject to the same criteria as set out in Sections 5650 and 5651.
(4)
Amend its articles of incorporation or bylaws.
(5)
Establish or maintain a subsidiary.
(6)
Acquire all or substantially all of the assets or savings account liabilities of a branch or branches of another financial institution.
(b)
Applications for approval under this section shall be filed in the office of the commissioner, shall include information as prescribed by regulation or written instruction of the commissioner, and shall be accompanied by any filing fee prescribed by the commissioner pursuant to Section 9001.
(c)
A public hearing may be held on applications filed
under this section in accordance with procedures prescribed by law or by regulations adopted by the commissioner.
(d)
No certificate of amendment or other certificate to amend the articles of incorporation of an association shall be filed in the office of the Secretary of State unless there is attached thereto the certificate of the commissioner approving the certificate.
(e)
Applicants filing under this division shall publish notice as prescribed by the commissioner.

Legislative History

Amended by Stats. 1988, Ch. 718, Sec. 9.