California · Financial Code

FIN §10001: (a) No person, other than a California savings association or other person authorized by this division, shall do any business of an association.

Civil

What this law says, in plain English

Only authorized California savings associations may conduct association business. Foreign entities cannot control California savings associations. The commissioner may seek injunctions to stop unlawful association business.

Read the full statutory text

(a) No person, other than a California savings association or other person authorized by this division, shall do any business of an association. (b) No foreign savings association may control a California savings association. (c) No foreign holding company may control a California savings association. (d) The commissioner shall obtain an injunction or take other action necessary to prevent any person from unlawfully doing any business of an association in this state.

Verify at the official source: California legislative text

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This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.