Except as otherwise provided in Section 10.3402 of this Chapter, no proposed director, proposed officer, or organizer of a proposed subject institution shall solicit or accept pre-opening funds for such proposed subject institution from any person unless the Commissioner has approved such solicitation and acceptance.

Note: Authority cited: Section 215, Financial Code.

History

1. Change without regulatory effect amending section and adding new Note filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).