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2025 California Code
Financial Code - FIN
DIVISION 2 - SAVINGS ASSOCIATION LAW
CHAPTER 2 - Corporate Organization and Corporate Changes
ARTICLE 3 - Postincorporation Organization of Associations
Section 5606.
Universal Citation:
CA Fin Code § 5606 (2025)
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5606. (a) Prior to doing business in this state, an association shall obtain and maintain insurance of its savings accounts by the Federal Deposit Insurance Corporation.
(b) Prior to doing business in this state, a foreign savings association, as defined in Sections 10000 and 10010, shall maintain insurance of its savings accounts by the Federal Deposit Insurance Corporation.
(c) The commissioner may enforce any statutes pertaining to, or any regulations of, the Federal Deposit Insurance Corporation or the Office of Thrift Supervision insofar as those statutes and regulations apply to associations, and may enforce any and all other federal statutes and regulations applicable to associations.
(Amended by Stats. 1990, Ch. 1118, Sec. 22.)
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