California Code of Regulations
Title 10 - Investment
Chapter 2 - Savings and Loan Commissioner
Subchapter 3 - Applications and Hearings
Article 2 - Applications and Hearings for Mergers, Consolidations, or Transfers of Property and Assets of Existing Associations
Section 103.214 - Hearings

Universal Citation: 10 CA Code of Regs 103.214

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

(a) Hearings will ordinarily be held upon all applications for approval of a merger unless, for good cause, the Commissioner shall dispense with the same.

(b) Any hearings held under this section will be in accordance with the procedures set forth in the applicable sections under Subchapter 3 Article 1 of the regulations. Sections under Subchapter 3 Article 1 of the regulations that are not applicable under this section include subdivisions (c), (d) and (k) of Section 103.118.

(c) Notice of Hearing.

(1) Unless the Commissioner shall approve or deny an application without hearing, a notice of hearing shall be mailed by the Commissioner to each constituent association existing in this state stating that an application has been filed, that a public hearing will be held, and the time and place thereof.

(2)
(A) Within 15 days of the date of the mailing of the notice of hearing, each constituent association shall publish a notice of hearing on the application in substantially the form set our in subdivision (B) below, in a place prominent to the general readership in a newspaper, not exclusively a legal journal, of general circulation (as defined in Government Code Sections 6000 and 6008) published in the city or community in which its principal office is located, publication shall be made in a newspaper of general circulation in the community nearest the principal office.

(B) "NOTICE OF HEARING ON SAVINGS AND LOAN MERGER APPLICATION

Notice is hereby given that a public hearing has been scheduled by the DEPARTMENT OF SAVINGS AND LOAN relating to an application by ____________________ SAVINGS AND LOAN ASSOCIATION, ____________________ (Address Principal Office) for approval of ____________________________________________________________(Briefly describe transaction including any name change.) The hearing will be held at the Department's office at _____(Time).M., on the __________(Day) of ____________________(Month), 19___(Year), at __________(Room #) ____________________(Address) ____________________(City), ____________________(Telephone Number)

The application is open for public inspection is accordance with the Commissioner's regulations at either office of the Department of Savings and Loan of the State of California, located at 600 South Commonwealth Avenue, Los Angeles 90005, and 350 Sansome Street, San Francisco, 94104.

Written objections or other documents relevant to the application should be filed with the Department, and a copy delivered or mailed to the applicants, ____________________SAVINGS AND LOAN ASSOCIATION and ____________________SAVINGS AND LOAN ASSOCIATION, not later than ______________________________, 19___. (30 days after date of mailing of notice of hearing.)

Any person may appear at the hearing and make an oral statement during an amount of time limited by the hearing officer, which is the case of any person who has not filed prior written objections or other documents is to be limited to not more than 15 minutes in duration, or such shorter time as may be allowed by the hearing officer."

(3) Promptly after publication of the newspaper notice, the applicant shall file two copies thereof with the Commissioner, accompanied by two copies of the publisher's affidavit of publication.

(4) If proof of publication of the notice of hearing within the time period stated 103.214(c)(2) above is not filed on or before the hearing date, the hearing shall be continued to such future date as will allow for publication.

1. Change without regulatory effect renumbering former Section 208 to Section 103.214 (Register 87, No. 14). For prior history, see Registers 78, No. 51 and 77, No. 11.

Note: Authority cited: Section 5255, Financial Code. Reference: Sections 5500- 5515, 5700- 5702, 6000- 6010 and 9200- 9218, Financial Code.

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