California Financial Code

§ 355

FIN § 355 Effective Jan 1, 2023Div. 1 · Ch. 3 · Art. 3

Statute text

The Commissioner of Financial Protection and Innovation, the Senior Deputy Commissioner of the Division of Financial Institutions, or any deputy or employee of the Division of Financial Institutions shall not do or be any of the following with respect to any bank, savings association, credit union, or industrial loan company supervised by the department:

(a)Be indebted, directly or indirectly, as borrower, endorser, surety, or guarantor to any such bank, savings association, credit union, or industrial loan company.

(b)Be an officer, director, or employee of any such bank, savings association, credit union, or industrial loan company.

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Legislative history

Amended by Stats. 2022, Ch. 452, Sec. 100. (SB 1498) Effective January 1, 2023.