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Current as of January 01, 2023 | Updated by FindLaw Staff
If, after notice and an opportunity to be heard, the commissioner finds any of the factors set forth in subdivision (a) or (b) with respect to any subject institution, subject person, or any holding company, the commissioner may order the subject institution, subject person, or holding company to cease and desist from the act or violation:
(a) That the subject institution, subject person, or holding company has engaged or participated, is engaging or participating, or that there is reasonable cause to believe that the subject institution, subject person, or holding company is about to engage or participate, in any unsafe or unsound act with respect to the business of the subject institution.
(b) That the subject institution, subject person, or holding company has violated, is violating, or that there is reasonable cause to believe that the subject institution, subject person, or holding company is about to violate any:
(1) Provision of any division subject to the jurisdiction of the commissioner.
(2) Provision of any regulation promulgated by, or subject to the jurisdiction of, the commissioner.
(3) Provision of any other applicable law.
(4) Provision of any written agreement between the subject institution, subject person, or holding company, and the commissioner.
Cite this article: FindLaw.com - California Code, Financial Code - FIN § 580 - last updated January 01, 2023 | https://codes.findlaw.com/ca/financial-code/fin-sect-580/
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 or via Westlaw before relying on it for your legal needs.
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