2005 California Financial Code Sections 33700-33701 Article 1. General Provisions

33700.  No licensee shall appoint or continue any person as its
agent, nor shall any person become or continue to be a California
agent of a licensee, unless such licensee and such person shall have
first made a written contract which shall contain the following
provisions:
   (a) That the licensee appoints the person as its agent with
authority to sell on behalf of the licensee payment instruments
issued by the licensee.
   (b) (1) In case the person is a national banking association, a
federal savings association, or a federal credit union, provisions
substantially corresponding with the provisions of Article 3
(commencing with Section 33730).
   (2) In case the person is any California agent other than an agent
of the type described in paragraph (1) of this subdivision, that the
person shall comply with all applicable provisions of this division
and of any regulation or order issued under this division.
   (3) In case the person is any agent other than (i) an agent of the
type referred to in paragraph (1) of this subdivision or (ii) a
California agent:
   (A) If the person is an insured bank, an insured savings
association, or an insured credit union, provisions substantially
corresponding with the provisions of Article 3 (commencing with
Section 33730); or
   (B) If the person is neither an insured bank nor an insured
savings association nor an insured credit union, provisions
substantially corresponding with the provisions of Article 2
(commencing with Section 33720) which are applicable to California
agents of a licensee and with the provisions of Article 3 (commencing
with Section 33730).
   (c) Such other provisions as the commissioner may find to be
necessary to carry out the provisions and purposes of this division.
33701.  Each licensee shall be liable as a principal for all acts of
each of its California agents in selling and redeeming payment
instruments issued by such licensee.