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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) For purposes of this section, “subject depository institution” means any of the following:
(1) A credit union that is organized under the laws of this state or that maintains an office in this state.
(2) An affiliate of an institution specified in paragraph (1).
(b) It shall be unlawful for a subject person or former subject person of a subject institution to whom an order is issued under Sections 14308 to 14310, inclusive, willfully to do, directly or indirectly, any of the following without the approval of the commissioner so long as the order is in effect:
(1) To act as a subject person of any subject depository institution.
(2) To vote any shares or other securities having voting rights for the election of any person as a director of a subject depository institution.
(3) To solicit, procure, transfer or attempt to transfer, or vote any proxy, consent, or authorization with respect to any shares or other securities of a subject depository institution having voting rights.
(4) To otherwise participate in any manner in the conduct of the affairs of any subject depository institution.
Cite this article: FindLaw.com - California Code, Financial Code - FIN § 14312 - last updated January 01, 2025 | https://codes.findlaw.com/ca/financial-code/fin-sect-14312/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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