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Can you summarize 10 CACR Section 10.19107?
Regulated Corporations > Applicable Provisions of Banking Law.
Short Summary
This legal document outlines the applicable provisions of the Banking Law that regulated corporations and their controlling subject institutions must comply with. The regulated corporation is treated as an operating division of the controlling subject institution for the purpose of these provisions. The document specifies the sections of the Financial Code and Chapters of the Banking Law that are applicable. It also states that certain types of transactions between a regulated corporation and a person who has a specified relationship with the controlling subject institution are subject to the same restrictions as transactions between the subject institution and such a person. However, the restrictions do not apply if the person has a relationship with the regulated corporation but not with the controlling subject institution. The document does not mention specific penalties for non-compliance or violations.
Whom does it apply to?
Regulated corporations and their controlling subject institutions
What does it govern?
Applicable provisions of Banking Law
What are exemptions?
The statutes and regulations do not apply to transactions between the regulated corporation or the controlling subject institution and a person who has a specified relationship with the regulated corporation but not with the controlling subject institution.
What are the Penalties?
No specific penalties mentioned.
Jurisdiction
California