(a) Not more than 30 days after incorporation, a subject institution shall establish a deposit account with a California commercial bank, and there shall be deposited in such account any pre-opening funds transferred pursuant to Section 10.3408(a) of this Chapter from the pre-incorporation pre-opening funds account for such subject institution, upon such transfer, and any pre-opening funds for the subject institution accepted by the subject institution, upon such acceptance. No other funds shall be deposited in such account.
(b) No funds shall be withdrawn from the post-incorporation pre-opening funds account of a subject institution except:
(1) Upon the order of an officer of such subject institution duly authorized by the board of directors of the subject institution; and
(2) For the purpose of paying pre-opening expenditures of the subject institution or in accordance with the provisions of Section 10.3483 of this Chapter.