State Codes and Statutes

State Codes and Statutes

Statutes > California > Fin > 10010

FINANCIAL CODE
SECTION 10010



10010.  Terms not expressly defined in this chapter have the meaning
given in Chapter 1 (commencing with Section 5000) or as the
commissioner may provide by regulation. For the purposes of this
chapter:
   (a) "California savings association" means either (1) an
association or (2) a foreign association or successor thereof that
was licensed to do the business of an association in California on
September 15, 1935.
   (b) "Foreign holding company" means a savings and loan holding
company as defined in Section 10 of the Home Owners Loan Act, as
amended (12 U.S.C. Sec. 1467a) or bank holding company as defined in
Section 3 of the federal Bank Holding Company Act, as amended, (12
U.S.C. Sec. 1841 et seq.), which savings and loan or bank holding
company (1) has its principal place of deposits outside of California
and (2) does not control a subsidiary California savings association
or a subsidiary federal association with, or a subsidiary foreign
savings association with, an authorized home or branch office in
California at which accounts may lawfully be opened and deposits may
lawfully be accepted.
   (c) "Foreign savings association" means an insured institution
other than a California savings association and other than a federal
association.
   (d) "Insured institution" means an entity: (1) the deposits of
which are insured by the Federal Deposit Insurance Corporation, (2)
which is chartered by the Office of Thrift Supervision, or (3) which,
because of its assets or activities, has a holding company that is
regulated as a savings and loan holding company under Section 10 of
the Home Owners Loan Act, as amended (12 U.S.C. Sec. 1467a).
   (e) The "principal place of deposits" of an entity is that state
in which the total deposits of all of that entity's depository
operations and those of its affiliates are largest.