An application by a California state bank for approval to have an insured depository institution engage in authorized agency activities as its agent shall be accompanied by a filing fee of two hundred fifty dollars ($250).

(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

Terms Used In California Financial Code 1386

  • Authorized agency activities: includes ministerial functions such as providing loan applications, assembling documents, providing a location for returning documents necessary for making a loan, providing loan account information, receiving payments, disbursing loan funds, evaluating loan applications, and other activities that the commissioner may specify by order or regulation. See California Financial Code 1380
  • Insured depository institution: includes any depository institution affiliate within the meaning of Section 18(r) of the Federal Deposit Insurance Act (12 U. See California Financial Code 1380
  Previous section
Next section  
 Article 2 Contents