CHAPTER 6. Enforcement [550. - 595.]

Chapter 6 added by Stats. 2011, Ch. 243, Sec. 2.

§§ 550–595 · 28 sections

1. ARTICLE 1. General Provisions §§ 550–554 · 5 sections

   • § 550 In this article: (a) “Appropriate licensee business” means the business that a licensee may conduct in accordance with the charter or license that the…
   • § 551 Any subject person who is entitled to a hearing pursuant to this article may waive that right at any time. A waiver under this section shall relieve the…
   • § 552 (a) Within 30 days after an order is issued pursuant to Section 567, 581, 582, 586, or 591, or subdivision (c) of Section 587, the person to whom the order is…
   • § 553 In addition to any other action or requirement the commissioner deems necessary or advisable, an order issued pursuant to Section 580, 581, 582, 585, 586, or…
   • § 554 If the commissioner takes possession of a subject institution without a prior notice or hearing, or takes action against a subject person without prior notice…
2. ARTICLE 2. Actions Involving the Conduct of Business by Unauthorized Persons §§ 560–567 · 8 sections

   • § 560 No person who has not received a certificate from the commissioner authorizing it to engage in the banking business shall solicit or receive deposits, issue…
   • § 561 No person who has not received a certificate from the commissioner authorizing it to engage in the banking business shall advertise that it is accepting…
   • § 562 No person who has not received a certificate from the commissioner authorizing it to engage in the banking business shall transact business under any name or…
   • § 563 No provision of Section 560, 561, or 562 prohibits any of the following from transacting any business or performing any activity if it is authorized by…
   • § 564 Any person or any bank violating any provision of the foregoing sections of this article shall be liable to the people of the state in the amount of one…
   • § 565 No person shall represent by advertisement, circular, or otherwise, or in any manner mislead anyone to believe, that any securities are legal investments for…
   • § 566 (a) The commissioner may bring an action in the name of the people of this state in superior court to enjoin any violation of, to enforce compliance with, or…
   • § 567 If the commissioner finds that a person has conducted, or that there is reasonable cause to believe that a person is about to conduct, business that requires a…
3. ARTICLE 3. Orders Against Licensees and Subject Persons §§ 580–583 · 4 sections

   • § 580 If, after notice and an opportunity to be heard, the commissioner finds any of the factors set forth in subdivision (a) or (b) with respect to any subject…
   • § 581 If the commissioner finds that any of the factors set forth in Section 580 is true with respect to any subject institution, subject person, or holding company,…
   • § 582 If the commissioner finds that a subject institution’s books or records are so incomplete or inaccurate that the commissioner is unable through the normal…
   • § 583 (a) The commissioner shall make public on the department’s Internet Web site all final orders issued pursuant to Sections 329, 567, 580, 581, 582, 585, 586,…
4. ARTICLE 4. Suspension or Removal of Subject Persons §§ 585–589 · 5 sections

   • § 585 If, after notice and an opportunity to be heard, the commissioner finds that any of the factors set forth in subdivision (a), any of the factors set forth in…
   • § 586 If the commissioner finds that any of the factors set forth in subdivision (a) of Section 585, any of the factors set forth in subdivision (b) of Section 585,…
   • § 587 (a) If the commissioner finds that any of the factors set forth in paragraph (1) and the factor set forth in paragraph (2) are true with respect to a subject…
   • § 588 (a) Any subject institution, subject person of a subject institution, or former subject person of a subject institution to whom an order is issued under…
   • § 589 (a) In this section, “subject financial institution” means any: (1) Licensee or any bank or credit union that maintains an office in this state. (2) Affiliate…
5. ARTICLE 5. Suspension or Possession of a License §§ 590–595 · 6 sections

   • § 590 The commissioner may revoke or suspend any license issued by, or under the authority of, the commissioner, if, after notice and opportunity to be heard, the…
   • § 591 If the commissioner finds that any of the factors set forth in Section 590 is true with respect to any licensee and that it is necessary for the protection of…
   • § 592 If the commissioner finds that any of the factors set forth in subdivisions (a) to (k), inclusive, is true with respect to a licensee, the commissioner may by…
   • § 593 (a) If the commissioner takes possession of the property and business of a licensee pursuant to Section 592, the licensee may, within 10 days, apply to the…
   • § 594 (a) Upon taking possession of the property and business of any licensee, the commissioner shall give notice of that fact to all persons holding or having in…
   • § 595 The commissioner is deemed to take possession of the entire property and business of a licensee when the commissioner takes possession of the business and…