California Code of Regulations
Title 10 - Investment
Chapter 2 - Savings and Loan Commissioner
Subchapter 3 - Applications and Hearings
Article 1 - Applications and Hearings: New Facilities, Branches, Changes of Location, Agencies, Conversions from a Federal to State Association, Changes of Name and Amendments of Articles of Incorporation
Section 103.110 - Application for a Service Office or an Executive or Administrative Headquarters Office

Universal Citation: 10 CA Code of Regs 103.110

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

(a) An application for permission to establish or change the location of a service office or an executive or administrative headquarters office of an association will not be approved unless the application contains evidence satisfactory to the commissioner that the proposed office will not be used to conduct or transact a savings business. The application shall include an affirmative statement that the association will not in any manner advertise, inform the public, its account holders or borrowers that savings deposits or withdrawals will be permitted.

(b) The application shall indicate whether it is for a service office or an executive or administrative headquarters office and shall include the following information:

(1) The street address of the proposed office, and the city and county in which located;

(2) A description of the premises, including the number of floors in the building, size of the proposed premises and the location of the office in the building;

(3) If the office premises are to be leased by the association, a description of the lease and the name and address of the record owner of the premises;

(4) The cost of the premises and the estimated cost of furnishing and equipping the premises, including leasehold improvements of leased premises;

(5) A detailed list and description of the activities and functions to be performed in the premises;

(6) A description of the sign or signs, both exterior and interior, to be used;

(7) A description of the public access to the premises;

(8) A list of the executive and administrative positions which will be officed at the premises for an executive or administrative headquarters office; and the method of operation of the office, including a statement of the number and job description of the personnel proposed to be employed in the premises; and

(9) A statement setting forth the reasons justifying the need for the proposed premises.

(c) The commissioner may act upon the application without a hearing and shall issue a written decision approving or denying the application. Conditions of approval shall be set out in the decision.

1. Change without regulatory effect renumbering former Section 146 to Section 103.110 (Register 87, No. 14). For prior history, see Register 82, No. 16.

Note: Authority cited: Section 5255, Financial Code. Reference: Sections 5056.5, 5700- 5702, 6005 and 6050- 6055, Financial Code.

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