1. (a) In case the approved depository is an affiliate of the subject institution.
2. (b) In case any person who is a director or executive officer of the approved depository or of any parent or subsidiary of the approved depository is a director or executive officer of the subject institution or of any parent or subsidiary of the subject institution.

3. (c) In case five percent or more of any class of the equity securities of the approved depository or of any parent of the approved depository is owned, directly or indirectly, of record or beneficially, by:

   1. (1) The subject institution and its affiliates,individually or collectively;
   2. (2) The directors and executive officers of the subject institution and of its parents and subsidiaries, individually or collectively;
   3. (3) The foreign nation where the subject institution is domiciled or any person controlled by such foreign nation; or
   4. (4) Any person who is, or is controlled by any person who is, domiciled in the foreign nation where the subject institution is domiciled.
4. (d) In case the subject institution or any of its affiliates is in default on an obligation which is owed to, or which secures an obligation owed to, the approved depository or any affiliate of the approved depository.

In case any of the following factors becomes true with respect to an approved depository of a subject institution, such approved depository and such subject institution shall each promptly file with the Commissioner a report on such matter, providing full details:

Note: Authority cited: Section 215, Financial Code. Reference: Sections 1705 and 1761, Financial Code.

History

1. Amendment filed 3-12-82; effective thirtieth day thereafter (Register 82, No. 11).

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