California · Financial Code
FIN §1387: In determining whether to approve or deny an application by a California state bank for approval to have an insured depository institution engage in authorized agency activities as its agent, the comm
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In determining whether to approve or deny an application by a California state bank for approval to have an insured depository institution engage in authorized agency activities as its agent, the commissioner shall consider both of the following: (a) Whether the proposed agency arrangement is consistent with the safe and sound operation of the California state bank. (b) Any other factors that the commissioner deems relevant.
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