Fin. Code, § 6556 · Article 2. Branching and Agency Powers
Fin. Code, § 6556
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) Upon review of the application for a branch office or agency and after a hearing on the branch application, if one is deemed necessary, the commissioner shall determine whether all of the following criteria are met:
(1) The applicant’s policies, financial condition, and operations afford no basis for supervisory objection.
(2) The proposed branch office or agency will be opened within a reasonable time after approval, as determined by the commissioner.
(b) If the commissioner determines that the criteria set forth in subdivision (a) are met the application shall be approved.
(c) If the commissioner determines that the criteria set forth in subdivision (a) are not met the application shall be denied.
Notes and commentary — not statutory text
History
Amended by Stats. 1987, Ch. 730, Sec. 13.
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=6556.
- Text hash
- sha256 abe499fc612bfd2fd6b79fccc66f04635a991cb862488c3e135872a04cdcb18a
- 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
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.