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Current as of January 01, 2025 | Updated by Findlaw Staff
If the commissioner finds that a subject institution's books or records are so incomplete or inaccurate that the commissioner is unable through the normal supervisory process to determine the financial condition of the subject institution or the details or purpose of any transaction or transactions that may materially affect the financial condition of the subject institution, the commissioner may, without any prior notice or hearing, order the subject institution to do either of the following:
(a) Cease any activity or practice that gave rise, in whole or in part, to the incomplete or inaccurate state of the books or records.
(b) Take affirmative action to restore the books or records to a complete and accurate state.
Cite this article: FindLaw.com - California Code, Financial Code - FIN § 582 - last updated January 01, 2025 | https://codes.findlaw.com/ca/financial-code/fin-sect-582/
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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