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 6 - Depositing, Receiving, and Holding Eligible Assets
Section 10.16132 - Deficiencies-Approved Depository

Whenever an officer or employee of the approved depository of a subject institution, acting in the course and scope of his or her employment, obtains actual knowledge that the total value of the eligible assets in the pledge deposit for such subject institution is less than the applicable minimum, such approved depository shall immediately report the matter to the Commissioner by telephone. In addition, promptly thereafter, the approved depository shall serve a written report regarding the matter on the Commissioner and simultaneously serve a copy of such written report on the subject institution.

1. 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.