Ask Reggi Your Question Now
Can you summarize 10 CACR Section 10.4360?
Application > Information Regarding Affiliates.
Short Summary
This legal document governs the disclosure and documentation requirements for affiliates of an applicant seeking to convert a California National Bank into a California State Bank. The document applies to applicants for the conversion and requires them to provide a list or diagram of their affiliates, including parent companies, subsidiaries, and their relationships. It also requires disclosure of information about registered bank holding companies, personal and financial information of individual affiliates, and financial statements and reports of corporate affiliates. The document exempts the acquisition of control of an applicant in accordance with its application for authority to convert. No specific penalties are mentioned in the document.
Whom does it apply to?
Applicants for the conversion of a California National Bank into a California State Bank
What does it govern?
Affiliates of an applicant for the conversion of a California National Bank into a California State Bank
What are exemptions?
The acquisition of control of an applicant in accordance with its application for authority to convert into a subject institution, as approved by the Commissioner
What are the Penalties?
No specific penalties mentioned
Jurisdiction
California