California Code of Regulations
Title 10 - Investment
Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions
Subchapter 10 - Banks
Article 6 - California State Offices of Foreign (Other Nation) Banks
Subarticle 3 - Agencies and Branch Offices
Part 10 - Deposit of Eligible Assets
Subpart 2 - Approval of Approved Depository
Section 10.16028 - Report on Certain Factors
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
In case any of the following factors becomes true with respect to an approved depository of a subject institution, such approved depository and such subject institution shall each promptly file with the Commissioner a report on such matter, providing full details:
(a) In case the approved depository is an affiliate of the subject institution.
(b) In case any person who is a director or executive officer of the approved depository or of any parent or subsidiary of the approved depository is a director or executive officer of the subject institution or of any parent or subsidiary of the subject institution.
(c) In case five percent or more of any class of the equity securities of the approved depository or of any parent of the approved depository is owned, directly or indirectly, of record or beneficially, by:
(d) In case the subject institution or any of its affiliates is in default on an obligation which is owed to, or which secures an obligation owed to, the approved depository or any affiliate of the approved depository.
1.
Amendment filed 3-12-82; effective thirtieth day thereafter (Register 82, No.
11).
2. Change without regulatory effect amending section filed
8-19-97 pursuant to section
100, title 1, California Code of
Regulations (Register 97, No. 34).
Note: Authority cited: Section 215, Financial Code. Reference: Sections 1705 and 1761, Financial Code.
