California Code of Regulations
Title 10 - Investment
Chapter 2 - Savings and Loan Commissioner
Subchapter 4 - Operations-General
Article 1 - Advertising
Section 104.505 - Books and Accounts

Universal Citation: 10 CA Code of Regs 104.505

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

(a) General. Every association exercising trust powers shall keep its fiduciary records separate and distinct from other records of the association. All fiduciary records shall be so kept and retained for such time as to enable the association to furnish such information or reports with respect thereto as may be required by the commissioner. The fiduciary records shall contain full information relative to each account.

(b) Record of pending litigation. Every association shall keep an adequate record of all pending litigation to which it is a party in connection with its exercise of trust powers.

1. Change without regulatory effect renumbering former Section 245.6 to Section 104.505 (Register 87, No. 14). For prior history, see Register 81, No. 25.

Note: Authority cited: Section 5500.5, Financial Code. Reference: Title 10, Calif. Adm. Code, Chapter 2, Subchapter 3, Article 5 (Section 103.500) and Subchapter 4, Article 5 (Section 104.500 et seq.); and Sections 5003 and 5501.5, Financial Code.

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