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§ 103.104. Previously Filed Applications.

10 CA ADC § 103.104Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 10. Investment
Chapter 2. Savings and Loan Commissioner (Refs & Annos)
Subchapter 3. Applications and Hearings
Article 1. Applications and Hearings: New Facilities, Branches, Changes of Location, Agencies, Conversions from a Federal to State Association, Changes of Name and Amendments of Articles of Incorporation
10 CCR § 103.104
§ 103.104. Previously Filed Applications.
Currentness
(a) No association shall have more than two applications for all types of facilities pending at any one time, except as provided in this section.
No application for any type of facility shall be accepted for filing if at the time of filing the association has more than three approved but unopened facilities of all types.
(b) An application for a change of location of an existing facility shall not be considered a pending application under this section.
(c) If the branch application is to serve a primary service area of low- and moderate-income families, located in an inner-city area that is inadequately served by existing savings and loan facilities, the commissioner may approve such application even though the applicant has other applications pending. The application shall not be deemed a pending application under this section.
The applicant shall submit sufficient information to satisfy the commissioner that:
(1) The branch is to be located within an inner-city area which is characterized by low- and moderate-income families, chronic high unemployment, a high percentage of welfare recipients, and substandard housing; and
(2) The branch will fulfill the objectives of granting loans in such area, particularly for construction or rehabilitation of housing, stimulating thrift and providing financial guidance among low- and moderate-income families, and providing opportunities for employment or job training for residents of such area.
(d) An application for approval of an office for executive or administrative headquarters or application for license for service office shall not be deemed a pending application under this section.
(e) An application will not be deemed to be pending if it has been on file with the commissioner for more than 120 days and has not been acted upon.
(f) After the filing of the application for the merger of two associations or an acquisition of all or substantially all of the assets of one association by another, the associations involved shall be deemed one association for compliance with subsection (a) above.

Credits

Note: Authority cited: Section 5255, Financial Code. Reference: Sections 5500-5515, 5700-5702, 6000-6010, 6050-6055, 9000 and 9200-9218, Financial Code.
History
1. Change without regulatory effect renumbering former Section 145.4 to Section 103.104 (Register 87, No. 14). For prior history, see Register 82, No. 16.
This database is current through 5/10/24 Register 2024, No. 19.
Cal. Admin. Code tit. 10, § 103.104, 10 CA ADC § 103.104
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