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 2 - Establishment of Agency or Branch Office
Subpart 4 - Post-Approval Matters
Section 10.14183 - Agreement

Universal Citation: 10 CA Code of Regs 10.14183

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

(a) Except as otherwise provided in Section 10.14176 of this Chapter, not less than five business days before the license for a subject office is to be issued, the applicant shall file with the Commissioner:

(1) Agreement of the applicant, agreeing, in consideration of the issuance of the license, as follows:
(A) That any bank regulatory agency having information or records regarding the applicant, including any bank regulatory agency of the domiciliary jurisdiction of the applicant, of the United States, of any state of the United States, or of any foreign nation, may furnish to the Commissioner such information, and permit him to inspect and copy such records, as the Commissioner may request from time to time.

(B) That, in case any violation of law relating to the business of the applicant in the State of California is committed or is suspected of having been committed by an individual who was, at the time of such violation or suspected violation, an officer or employee of the applicant, the applicant, so long as it maintains a California state office, will, if the Commissioner requests that it do so and except to the extent that it is prohibited from doing so by the laws of its domiciliary jurisdiction, use its best efforts to
(i) assist any proper authorities of the United States, of the State of California, or of any political subdivision of the State of California to gain access to such individual,

(ii) assist any such authorities to obtain information which may relate, directly or indirectly, to such violation or suspected violation, and

(iii) otherwise cooperate with any such authorities in enforcing the laws of the United States, of the State of California, and of political subdivisions of the State of California pertaining to such violation or suspected violation.

(C) That an amendment or revocation of the agreement shall be effective unless such revocation or amendment shall have first been approved in writing by the Commissioner.

(D) That any failure by the applicant to comply with any provision of the agreement shall, for purposes of the provisions of Article 5 (commencing with Section 1830), Chapter 20, Division 1.1 of, and Section 580 of, the Financial Code, as such provisions may be amended from time to time, or any statutes of similar import which may be enacted from time to time, be deemed to be a violation of a law of the State of California and of an order issued under Division 1 (commencing with Section 99) of the Financial Code.

(2) Copy of a resolution of the board of the applicant, authorizing the applicant to make the agreement called for in Paragraph (1) of this Subdivision (a).

(b)

(1) The agreement called for in Paragraph (1) of Subdivision (a) of this Section shall be signed in the name of the applicant by an officer of the applicant who is assigned to the head office of the applicant and is not proposed to be assigned to the subject office, and the signature of the applicant on the agreement shall be acknowledged.

(2) The copy of the resolution of the board of the applicant called for in Paragraph (2) of Subdivision (a) of this Section shall be certified by an officer of the applicant who is assigned to the head office of the applicant and who is not proposed to be assigned to the subject office, and the signature of such officer on such certification shall be acknowledged.

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).
2. Amendment of subsection (b)(1) and NOTE filed 4-14-98; operative 5-14-98 (Register 98, No. 16).
3. Change without regulatory effect amending subsection (a)(1)(D) and NOTE filed 8-21-2019 pursuant to section 100, title 1, California Code of Regulations (Register 2019, No. 34).

Note: Authority cited: Section 326, Financial Code. Reference: Sections 500, 580, 1758, 1803, 1830, 1831, 1832 and 1835, Financial Code.

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