State Codes and Statutes

Statutes > California > Fin > 230-236

FINANCIAL CODE
SECTION 230-236



230.  The commissioner shall appoint a chief deputy who holds office
at the pleasure of the commissioner. The annual salary of the chief
deputy shall be fixed by the commissioner with the approval of the
Director of Finance. The chief deputy shall have the same
qualifications as the commissioner. The commissioner shall also
appoint two deputies, one to serve in the City and County of San
Francisco and one to serve in the City of Los Angeles.



230.5.  The Chief Officer of the Division of Credit Unions is the
Deputy Commissioner of Financial Institutions for the Division of
Credit Unions. The Deputy Commissioner of Financial Institutions for
the Division of Credit Unions shall administer the laws of this state
relating to credit unions or the credit union business under the
direction of the commissioner. The Deputy Commissioner of Financial
Institutions for the Division of Credit Unions shall be appointed by
the Governor and shall hold office at the pleasure of the Governor.
The Deputy Commissioner of Financial Institutions shall receive an
annual salary as fixed by the Governor.



231.  The commissioner may employ deputies in addition to the chief
deputy, and examiners, appraisers, technical assistants,
investigators, administrative assistants, clerks, and other employees
that he or she may need to discharge in a proper manner the duties
imposed upon him or her by law. He or she shall prescribe their
duties and fix their compensation in accordance with classifications
made by the State Personnel Board. The commissioner may also, at
those times and on those terms as may be approved by the Governor,
employ those attorneys as he or she may need.



232.  Before entering upon the duties of his office each deputy and
examiner shall take and subscribe to the constitutional oath of
office and file the same with the Secretary of State.



233.  The commissioner may require, at any time, of any deputy,
examiner, or other employee of the department, an official bond in
such amount as the commissioner may deem necessary. The premium for
bonds required by the commissioner shall be an expense of the
department.



234.  Neither the commissioner nor any deputy or employee of the
department shall 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.
   (c) Own or deal in directly or indirectly, the shares or
obligations of any such bank, savings association, credit union, or
industrial loan company.
   (d) Be interested in or, directly or indirectly, receive from any
such bank, savings association, credit union, or industrial loan
company or any officer, director, or employee thereof, any salary,
fee, compensation, or other valuable thing by way of gift, credit,
compensation for services, or otherwise. However, this subdivision
does not prohibit any person from being interested in or directly or
indirectly receiving (1) anything which is expressly excluded from a
definition of "gift" or "honorarium" in the Political Reform Act of
1974 (Title 9 (commencing with Section 81000) of the Government Code)
or in regulations issued under the Political Reform Act of 1974 by
the Fair Political Practices Commission or (2) anything which, if
received by the commissioner, would constitute a gift or honorarium
within the meaning of the Political Reform Act of 1974 or regulations
issued under the Political Reform Act of 1974 by the Fair Political
Practices Commission but which the commissioner would not be
prohibited from receiving under the Political Reform Act of 1974 or
regulations issued under the Political Reform Act of 1974 by the Fair
Political Practices Commission.
   (e) Be interested in or engage in the negotiation of any loan to,
obligation of, or accommodation for another person to or with any
such bank, savings association, credit union, or industrial loan
company.
   Notwithstanding the foregoing the commissioner and any deputy or
employee may have and maintain one or more deposit or similar
accounts in any bank, savings association, credit union, or
industrial loan company in this state and may maintain with any bank,
savings association, credit union, or industrial loan company in
this state a loan which was not obtained in violation of this section
if the person reports the loan in writing to the department within
30 days after the person commences his or her term of appointment or
employment with the department and if the loan is not renewed,
renegotiated, extended, or otherwise modified on or after July 1,
1997.
   A violation of this section by any person shall constitute
sufficient grounds for his or her removal or discharge.



235.  If the commissioner is unable to perform his or her duties for
more than 30 consecutive days or if the office of the commissioner
becomes vacant, the chief deputy shall have all the powers and duties
of the commissioner until the return or recovery of the
commissioner, or, in case of a vacancy, until a new commissioner is
appointed by the Governor and qualifies to hold office.



236.  If a deputy commissioner or any examiner has knowledge of the
insolvency or unsafe condition of any licensee and willfully fails to
report that fact to the commissioner in writing, he or she is guilty
of a felony.

State Codes and Statutes

Statutes > California > Fin > 230-236

FINANCIAL CODE
SECTION 230-236



230.  The commissioner shall appoint a chief deputy who holds office
at the pleasure of the commissioner. The annual salary of the chief
deputy shall be fixed by the commissioner with the approval of the
Director of Finance. The chief deputy shall have the same
qualifications as the commissioner. The commissioner shall also
appoint two deputies, one to serve in the City and County of San
Francisco and one to serve in the City of Los Angeles.



230.5.  The Chief Officer of the Division of Credit Unions is the
Deputy Commissioner of Financial Institutions for the Division of
Credit Unions. The Deputy Commissioner of Financial Institutions for
the Division of Credit Unions shall administer the laws of this state
relating to credit unions or the credit union business under the
direction of the commissioner. The Deputy Commissioner of Financial
Institutions for the Division of Credit Unions shall be appointed by
the Governor and shall hold office at the pleasure of the Governor.
The Deputy Commissioner of Financial Institutions shall receive an
annual salary as fixed by the Governor.



231.  The commissioner may employ deputies in addition to the chief
deputy, and examiners, appraisers, technical assistants,
investigators, administrative assistants, clerks, and other employees
that he or she may need to discharge in a proper manner the duties
imposed upon him or her by law. He or she shall prescribe their
duties and fix their compensation in accordance with classifications
made by the State Personnel Board. The commissioner may also, at
those times and on those terms as may be approved by the Governor,
employ those attorneys as he or she may need.



232.  Before entering upon the duties of his office each deputy and
examiner shall take and subscribe to the constitutional oath of
office and file the same with the Secretary of State.



233.  The commissioner may require, at any time, of any deputy,
examiner, or other employee of the department, an official bond in
such amount as the commissioner may deem necessary. The premium for
bonds required by the commissioner shall be an expense of the
department.



234.  Neither the commissioner nor any deputy or employee of the
department shall 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.
   (c) Own or deal in directly or indirectly, the shares or
obligations of any such bank, savings association, credit union, or
industrial loan company.
   (d) Be interested in or, directly or indirectly, receive from any
such bank, savings association, credit union, or industrial loan
company or any officer, director, or employee thereof, any salary,
fee, compensation, or other valuable thing by way of gift, credit,
compensation for services, or otherwise. However, this subdivision
does not prohibit any person from being interested in or directly or
indirectly receiving (1) anything which is expressly excluded from a
definition of "gift" or "honorarium" in the Political Reform Act of
1974 (Title 9 (commencing with Section 81000) of the Government Code)
or in regulations issued under the Political Reform Act of 1974 by
the Fair Political Practices Commission or (2) anything which, if
received by the commissioner, would constitute a gift or honorarium
within the meaning of the Political Reform Act of 1974 or regulations
issued under the Political Reform Act of 1974 by the Fair Political
Practices Commission but which the commissioner would not be
prohibited from receiving under the Political Reform Act of 1974 or
regulations issued under the Political Reform Act of 1974 by the Fair
Political Practices Commission.
   (e) Be interested in or engage in the negotiation of any loan to,
obligation of, or accommodation for another person to or with any
such bank, savings association, credit union, or industrial loan
company.
   Notwithstanding the foregoing the commissioner and any deputy or
employee may have and maintain one or more deposit or similar
accounts in any bank, savings association, credit union, or
industrial loan company in this state and may maintain with any bank,
savings association, credit union, or industrial loan company in
this state a loan which was not obtained in violation of this section
if the person reports the loan in writing to the department within
30 days after the person commences his or her term of appointment or
employment with the department and if the loan is not renewed,
renegotiated, extended, or otherwise modified on or after July 1,
1997.
   A violation of this section by any person shall constitute
sufficient grounds for his or her removal or discharge.



235.  If the commissioner is unable to perform his or her duties for
more than 30 consecutive days or if the office of the commissioner
becomes vacant, the chief deputy shall have all the powers and duties
of the commissioner until the return or recovery of the
commissioner, or, in case of a vacancy, until a new commissioner is
appointed by the Governor and qualifies to hold office.



236.  If a deputy commissioner or any examiner has knowledge of the
insolvency or unsafe condition of any licensee and willfully fails to
report that fact to the commissioner in writing, he or she is guilty
of a felony.


State Codes and Statutes

State Codes and Statutes

Statutes > California > Fin > 230-236

FINANCIAL CODE
SECTION 230-236



230.  The commissioner shall appoint a chief deputy who holds office
at the pleasure of the commissioner. The annual salary of the chief
deputy shall be fixed by the commissioner with the approval of the
Director of Finance. The chief deputy shall have the same
qualifications as the commissioner. The commissioner shall also
appoint two deputies, one to serve in the City and County of San
Francisco and one to serve in the City of Los Angeles.



230.5.  The Chief Officer of the Division of Credit Unions is the
Deputy Commissioner of Financial Institutions for the Division of
Credit Unions. The Deputy Commissioner of Financial Institutions for
the Division of Credit Unions shall administer the laws of this state
relating to credit unions or the credit union business under the
direction of the commissioner. The Deputy Commissioner of Financial
Institutions for the Division of Credit Unions shall be appointed by
the Governor and shall hold office at the pleasure of the Governor.
The Deputy Commissioner of Financial Institutions shall receive an
annual salary as fixed by the Governor.



231.  The commissioner may employ deputies in addition to the chief
deputy, and examiners, appraisers, technical assistants,
investigators, administrative assistants, clerks, and other employees
that he or she may need to discharge in a proper manner the duties
imposed upon him or her by law. He or she shall prescribe their
duties and fix their compensation in accordance with classifications
made by the State Personnel Board. The commissioner may also, at
those times and on those terms as may be approved by the Governor,
employ those attorneys as he or she may need.



232.  Before entering upon the duties of his office each deputy and
examiner shall take and subscribe to the constitutional oath of
office and file the same with the Secretary of State.



233.  The commissioner may require, at any time, of any deputy,
examiner, or other employee of the department, an official bond in
such amount as the commissioner may deem necessary. The premium for
bonds required by the commissioner shall be an expense of the
department.



234.  Neither the commissioner nor any deputy or employee of the
department shall 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.
   (c) Own or deal in directly or indirectly, the shares or
obligations of any such bank, savings association, credit union, or
industrial loan company.
   (d) Be interested in or, directly or indirectly, receive from any
such bank, savings association, credit union, or industrial loan
company or any officer, director, or employee thereof, any salary,
fee, compensation, or other valuable thing by way of gift, credit,
compensation for services, or otherwise. However, this subdivision
does not prohibit any person from being interested in or directly or
indirectly receiving (1) anything which is expressly excluded from a
definition of "gift" or "honorarium" in the Political Reform Act of
1974 (Title 9 (commencing with Section 81000) of the Government Code)
or in regulations issued under the Political Reform Act of 1974 by
the Fair Political Practices Commission or (2) anything which, if
received by the commissioner, would constitute a gift or honorarium
within the meaning of the Political Reform Act of 1974 or regulations
issued under the Political Reform Act of 1974 by the Fair Political
Practices Commission but which the commissioner would not be
prohibited from receiving under the Political Reform Act of 1974 or
regulations issued under the Political Reform Act of 1974 by the Fair
Political Practices Commission.
   (e) Be interested in or engage in the negotiation of any loan to,
obligation of, or accommodation for another person to or with any
such bank, savings association, credit union, or industrial loan
company.
   Notwithstanding the foregoing the commissioner and any deputy or
employee may have and maintain one or more deposit or similar
accounts in any bank, savings association, credit union, or
industrial loan company in this state and may maintain with any bank,
savings association, credit union, or industrial loan company in
this state a loan which was not obtained in violation of this section
if the person reports the loan in writing to the department within
30 days after the person commences his or her term of appointment or
employment with the department and if the loan is not renewed,
renegotiated, extended, or otherwise modified on or after July 1,
1997.
   A violation of this section by any person shall constitute
sufficient grounds for his or her removal or discharge.



235.  If the commissioner is unable to perform his or her duties for
more than 30 consecutive days or if the office of the commissioner
becomes vacant, the chief deputy shall have all the powers and duties
of the commissioner until the return or recovery of the
commissioner, or, in case of a vacancy, until a new commissioner is
appointed by the Governor and qualifies to hold office.



236.  If a deputy commissioner or any examiner has knowledge of the
insolvency or unsafe condition of any licensee and willfully fails to
report that fact to the commissioner in writing, he or she is guilty
of a felony.

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