(a) Any pre-opening funds for a proposed subject institution accepted by a proposed director, proposed officer, or organizer of such proposed subject institution shall, upon acceptance, be deposited in a deposit account with a California commercial bank. No other funds shall be deposited in such account.
(b) No funds shall be withdrawn from a pre-incorporation pre-opening funds account for a proposed subject institution except:
(1) Upon the order of the manager of such account; and
(2) For the purpose of paying pre-opening expenditures of such proposed subject institution or in accordance with the provisions of Section 10.3408 of this Chapter.