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2025 California Code
Financial Code - FIN
DIVISION 1 - FINANCIAL INSTITUTIONS
CHAPTER 3 - Department of Financial Protection and Innovation
ARTICLE 6 - State Banking Account
Section 409.
Universal Citation:
CA Fin Code § 409 (2025)
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409. If any bank or trust company fails to make timely payment of any assessment made pursuant to Section 405, 406, or 408, the commissioner may, in the commissioner’s sole discretion, (a) cancel the certificate of authority of the bank or trust company to conduct a banking or trust business or (b) levy a civil penalty pursuant to Section 329.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
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