CHAPTER 7. Supervision [8009. - 8254.]

Chapter 7 added by Stats. 1983, Ch. 1091, Sec. 2.

§§ 8009–8254 · 41 sections

1. ARTICLE 1. Department of Savings and Loan §§ 8009–8010 · 2 sections

   • § 8009 (a) Except where required by law, regulation, or court order, or permitted under subdivision (b), the commissioner, and all employees of the department, shall…
   • § 8010 The commissioner, after a determination of value made in accordance with Article 4 (commencing with Section 8150) of Chapter 7, may order that assets,…
2. ARTICLE 2. Savings and Loan Account §§ 8030–8037 · 9 sections

   • § 8030 (a) To meet the operating costs and expenses of the department in administering this division and other laws relating to savings associations or the savings…
   • § 8031 The proportion of operating costs and expenses to be assessed against each association shall be determined and prescribed by the commissioner by regulation.…
   • § 8032 (a) On or before the 20th day of June of each year the commissioner shall notify each association by mail of the amount assessed and levied against it. (b)…
   • § 8033 If an association ceases to be an association by reason of merger, consolidation, conversion, acquisition of assets, or a similar type of transaction, any…
   • § 8034 (a) If a new domestic association is formed during a fiscal year, the initial assessment provided for by this article shall be computed on the same basis as if…
   • § 8035 If any domestic association proposes to acquire the assets of any federal association or any state or national bank by transfer, conversion, or otherwise, the…
   • § 8035.5 As of the operative date of this section: (a) The Savings Association Special Regulatory Fund is converted into a separate account in the Financial…
   • § 8036 All money collected or received by the commissioner under this division or any other law relating to savings associations or the savings association business,…
   • § 8037 All expenses of the department in administering the division and other laws relating to savings associations or to the savings association business shall be…
3. ARTICLE 3. General Supervisory Powers and Duties of Commissioner §§ 8050–8055 · 5 sections

   • § 8050 (a) The commissioner shall have general supervision over all (1) associations, (2) savings and loan holding companies, (3) service corporations, (4) finance…
   • § 8051 Each decision, order, or instruction shall be in writing signed by the commissioner or a deputy commissioner and shall be sent by registered or first-class…
   • § 8053 The commissioner may from time to time issue, amend and rescind any rules, regulations, forms, and orders that are necessary to carry out the provisions of…
   • § 8054 (a) Notwithstanding any other provision of law, whenever by statute or regulation there is extended to federal associations doing business in this state any…
   • § 8055 Every final decision of the commissioner is subject to judicial review in accordance with law. An action or proceeding for judicial review pursuant to this…
4. ARTICLE 4. Reports and Examinations §§ 8150–8160 · 11 sections

   • § 8150 (a) On or before the last day of January in each year, or within 30 days following the end of the fiscal year, each association, savings and loan holding…
   • § 8151 Each association, savings and loan holding company and subsidiary of any association or savings and loan holding company that is required to file an annual…
   • § 8152 From time to time the commissioner may, without previous notice, examine or cause an examination to be made into the affairs of each association, and any…
   • § 8153 (a) In lieu of a report or an examination under Section 8150 or 8152, the commissioner may accept any report made to, or examination made by, a federal or…
   • § 8154 (a) Whenever, in the judgment of the commissioner, the condition of any association, savings and loan holding company, or any of their subsidiaries renders it…
   • § 8155 (a) The commissioner is authorized in connection with any examination or audit of any association or any subsidiary to cause to be made appraisals of real…
   • § 8156 (a) Each association shall at least annually cause its books and accounts to be audited at its own expense by a certified public accountant or firm of…
   • § 8157 (a) The commissioner may prescribe the scope of the annual audit and may require the auditor to furnish information in addition to that contained in the audit…
   • § 8158 (a) The commissioner, or any department employee authorized by the commissioner, shall have free access to all books and records of an association, savings and…
   • § 8159 For each department examination or appraisal made outside this state, a reasonable fee and the actual traveling expenses incurred shall be paid to the…
   • § 8160 If an association, savings and loan holding company, or any subsidiary of an association or savings and loan holding company fails to report to the…
5. ARTICLE 5. Enforcement §§ 8200–8202 · 3 sections

   • § 8200 The commissioner may issue cease and desist orders which may order affirmative action in accordance with the following: (a) If the commissioner, as a result of…
   • § 8201 (a) Whenever the commissioner determines that any institution-affiliated party or any director, officer, or employee of a savings and loan holding company or…
   • § 8202 (a) The commissioner shall publish and make the following available to the public: (1) Any final order issued with respect to any administrative enforcement…
6. ARTICLE 6. Conservatorship §§ 8225–8230 · 6 sections

   • § 8225 (a) Whenever the commissioner deems it necessary in order to conserve the assets of any association for the benefit of the depositors and other creditors, or…
   • § 8226 Any conservator shall have all the rights, powers, and privileges possessed by the officers, directors, members and stockholders of the association.
   • § 8227 Except as authorized by the commissioner, the conservator shall not retain special counsel or other experts, incur any expense other than normal operating…
   • § 8228 The directors and officers shall remain in office and the employees shall remain in their respective positions, but the conservator may remove any director,…
   • § 8229 (a) While the association is in the charge of a conservator, savings account holders, borrowers, and other obligors of the association shall continue to make…
   • § 8230 Whenever a conservator has taken possession of the property and business of any association pursuant to this article, that association, within 10 days after…
7. ARTICLE 7. Receivership §§ 8250–8254 · 5 sections

   • § 8250 (a) If the commissioner finds that any association (1) is in an impaired condition, (2) is engaging in practices that threaten to result in an impaired…
   • § 8251 (a) In the case of an insured association, the appointment by the commissioner of a receiver under this article shall constitute an official determination of a…
   • § 8252 If the commissioner or a department employee is appointed receiver, no additional compensation shall be paid, but if another person is appointed, then the…
   • § 8253 If the association is an institution insured by the Federal Deposit Insurance Corporation, the Federal Deposit Insurance Corporation shall be tendered…
   • § 8254 Whenever a receiver has taken possession of the property and business of any association pursuant to this article, that association, within 10 days after the…