ARTICLE 2. Commissioner of Financial Protection and Innovation [320. - 338.]
Heading of Article 2 amended by Stats. 2022, Ch. 452, Sec. 99.
§§ 320–338 · 20 sections
- § 320 (a) The chief officer of the Department of Financial Protection and Innovation is the Commissioner of Financial Protection and Innovation. The Commissioner of…
- § 321 (a) In this section, “order” means any approval, consent, authorization, exemption, denial, prohibition, requirement, or other administrative action,…
- § 322 The commissioner is appointed by the Governor, and holds office at the pleasure of the Governor. The appointment of the commissioner is subject to confirmation…
- § 323 The commissioner shall be a citizen of the United States and a resident of the state for at least three years prior to his or her appointment. The commissioner…
- § 324 The annual salary of the commissioner is provided for by Chapter 6 (commencing with Section 11550) of Part 1 of Division 3 of Title 2 of the Government Code.
- § 325 Before entering upon the duties of his or her office, the commissioner shall take and subscribe to the constitutional oath of office and file the same with the…
- § 326 (a) The Commissioner of Financial Protection and Innovation is responsible for the performance of all duties, the exercise of all powers and jurisdiction, and…
- § 327 (a) The commissioner shall apply the Interagency Guidance on Nontraditional Mortgage Product Risks issued in September 2006 and the Statement on Subprime…
- § 328 (a) The commissioner may make the agreements that he or she deems necessary or appropriate in exercising his or her powers. (b) (1) The agreements authorized…
- § 329 (a) For purposes of this section, the following definitions apply: (1) “Applicable law” means: (A) With respect to any bank, Division 1.6 (commencing with…
- § 330 The authority vested in the Superintendent of Banks under subdivision (2) of Section 1 of Article XV of the California Constitution is delegated to the…
- § 331 The commissioner may adopt and implement any method of accepting electronic filings of applications, reports, or other matters, which, in the opinion of the…
- § 331.5 (a) (1) A licensee subject to the commissioner’s jurisdiction shall establish and maintain an electronic service address designated for receiving…
- § 332 (a) (1) In this section, “federal law” includes, but is not limited to, the United States Constitution, any federal statute, any federal court decision, and…
- § 333 The powers of supervision and examination of all licensees are vested in the commissioner.
- § 334 The commissioner may promulgate or waive such rules and regulations as may be reasonable or necessary to carry out his or her duties and responsibilities.
- § 335 (a) The commissioner, whenever in his or her opinion such action is necessary or appropriate to carry out his or her duties, may call a meeting of the board of…
- § 336 The commissioner may, at any time, require a licensee to write down any asset held by the licensee to a valuation that will represent the asset’s then fair…
- § 337 (a) The commissioner, when conducting examinations under Section 500, 14250, 16150, or 16700, shall examine a licensee that maintains a correspondent account…
- § 338 Upon declaration of a state of emergency, pursuant to the California Emergency Services Act (Chapter 7 (commencing with Section 8550) of Division 1 of Title 2…