Cal. FIN § 5100.9
This is the official text of Cal. FIN § 5100.9, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
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Official statutory text
“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.
(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.
Status: in_force · Read it on the official government site
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