Fin. Code, § 5100.9 · Article 2. General Definitions
Fin. Code, § 5100.9
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
“Institution-affiliated party” means any of the following:
(a) Any director, officer, employee or controlling stockholder of, or agent for, a savings association.
(b) Any person who has filed or is required to file an application to become a savings and loan holding company with the commissioner pursuant to Section 5801.
(c) Any shareholder, consultant, joint venture partner, and any other person as determined by the commissioner (by regulation or case-by-case) who participates in the conduct of the affairs of a savings association.
(d) Any independent contractor (including any attorney, appraiser, or accountant) who knowingly or recklessly participates in any of the following which caused or is likely to cause more than a minimal financial loss to, or a significant adverse effect on, the savings association:
(1) Any violation of law or regulation.
(2) Any breach of fiduciary duty.
(3) Any unsafe or unsound practice.
Notes and commentary — not statutory text
History
Added by Stats. 1990, Ch. 1118, Sec. 7.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=5100.9.
- Text hash
- sha256 23e49ca7f274f3be5aff5195ea1b11ce2a49112102ef7693a6b46effd93d9876
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
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Financial Code
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.