1. (a) As an administrative standard, if the Commissioner finds that the proposed solicitation and acceptance by a proposed director, proposed officer, or organizer of a proposed subject institution of pre-opening funds for such proposed subject institution is fair, just, and equitable, he will grant an application for approval of such solicitation and acceptance, subject to such terms and conditions as he may provide in such approval; if the Commissioner finds otherwise, he will deny the application.
2. (b) As an administrative standard, the Commissioner generally will not grant an application for approval for a proposed director, proposed officer, or organizer of a proposed subject institution to solicit and accept pre-opening funds for such proposed subject institution from the public on an unrestricted basis.

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).