2024 California Code
Financial Code - FIN
DIVISION 5 - CREDIT UNIONS
CHAPTER 3 - Administration and Powers of the Commissioner
ARTICLE 3 - Enforcement
Section 14306.
14306. An order issued pursuant to Sections 14303 to 14305, inclusive, may include any of the following provisions:
(a) Require the subject institution or subject person to take affirmative action to correct any condition resulting from the action or violation, including any of the following actions:
(1) To make restitution or provide reimbursement, indemnification, or guarantee against loss, if the subject institution or subject person was unjustly enriched in connection with the action or violation or if the action or violation involved a reckless disregard for any provision of this division, any regulation or order issued under this division, any other applicable law, or any agreement with the commissioner.
(2) Restrict the growth of the subject institution.
(3) Dispose of any loan or other asset involved.
(4) Correct violations of law.
(5) Employ qualified officers or employees, who may be subject to approval of the commissioner.
(6) Take any other action that the commissioner may find to be necessary or advisable.
(b) Limit the business activities or functions of the subject institution or subject person.
(Added by Stats. 2002, Ch. 734, Sec. 28. Effective September 20, 2002.)
