ARTICLE 1. General Powers [6500. - 6530.]

Article 1 added by Stats. 1983, Ch. 1091, Sec. 2.

§§ 6500–6530 · 31 sections

§ 6500 (a) Each association incorporated pursuant to or operating under the provisions of this division shall have all the powers enumerated, authorized, and…
§ 6501 An association may have perpetual existence, adopt and use a corporate seal which may be affixed by imprint, facsimile, or otherwise, and adopt and amend…
§ 6502 An association may sue, be sued, complain, and defend in any court.
§ 6502.5 An association may, acquire, hold, sell, develop, subdivide, dispose of, and convey real and personal property consistent with its objects and powers. It may…
§ 6503 (a) No association or subsidiary thereof, without the prior written consent of the commissioner, shall enter into either of the following: (1) Any transaction…
§ 6504 (a) Except by the prior written consent of the commissioner, an association in organization that is not a member of a federal home loan bank may borrow money…
§ 6505 (a) An association may issue and sell, directly or through underwriters, capital certificates that represent nonwithdrawable capital contributions, and…
§ 6507 An association may qualify as and become a member of a federal home loan bank and a home loan bank established as an agency or instrumentality of this state.
§ 6508 An association may become a member of, deal with, maintain reserves or deposits with, or make reasonable payments or contributions to any organization or…
§ 6509 An association may act as depository for receipt of payments of federal or state taxes and loan funds, and may satisfy any related federal or state statutory…
§ 6510 An association may sell any loan, including a participating interest in a loan, at any time.
§ 6511 Loans secured by real property may be sold to, and are legal investments for, among others, any public or private pension fund, credit union, labor union fund,…
§ 6513 An association may service loans and investments for others.
§ 6514 (a) An association may act, and receive compensation for so acting, as trustee of any trust created or organized in the United States and forming a part of a…
§ 6515 (a) Notwithstanding any provisions of Division 1 (commencing with Section 99), Section 202 of the Corporations Code, or any other provisions of law relating to…
§ 6516 (a) Subject to regulations issued by the commissioner, an association may own and use or participate in the use or ownership and use of remote service units.…
§ 6517 Subject to Regulation E (12 CFR Part 205) and to rules and regulations of the commissioner, an association may transfer funds between holders of savings…
§ 6518 (a) An association may maintain and rent safes, boxes, or other receptacles or premises for the safekeeping of personal property upon terms and conditions that…
§ 6519 An association may sell money orders, travel checks, and similar instruments drawn by it on its bank accounts or as agent for any organization empowered to…
§ 6520 An association, service corporation, or a person authorized in writing by an association may act as an agent for others except that an association may not act…
§ 6521 (a) Notwithstanding the provisions of Division 6 (commencing with Section 17000) or any other provision of law, an association or service corporation may act…
§ 6522 (a) An association that declares and pays dividends may distribute its own shares or may make payments in cash or property. Payment of cash or property shall…
§ 6523 (a) An association may use advertising, whether printed, broadcasted by radio, televised, displayed, or communicated in any other manner or make any…
§ 6524 An association may organize, sponsor, operate, control, or render investment advice to, an investment company, or underwrite, distribute, or sell securities of…
§ 6525 (a) Notwithstanding the provisions of Sections 1051, 1052, and 1054 of the Labor Code and Section 2947 of the Penal Code, an association, a subsidiary or…
§ 6525.5 Except with the prior written consent of the commissioner: (a) No person who has been convicted of any criminal offense involving dishonesty or breach of trust…
§ 6526 An association may issue commercial and standby letters of credit in conformance with the Uniform Commercial Code or the Uniform Customs and Practice for…
§ 6527 If a loan or other investment is authorized under more than one section of this division an association may designate under which section the loan or…
§ 6528 An association may provide correspondent services primarily to other depository institutions to the extent that the activity does not violate other provisions…
§ 6529 (a) No affiliated person of a savings association may receive, either directly or indirectly, from the association, a subsidiary thereof, or any other source…
§ 6530 (a) No savings association may discharge or otherwise discriminate against any employee with respect to compensation, terms, conditions, or privileges of…