Section 10.3857 - Report Regarding Differences from Application(a) Not more than 30 days nor less than five business days before commencing trust business, an applicant shall file with the Commissioner a report signed by an officer of such applicant, stating whether or not the trust department of the applicant is to be different in any material respect from what was proposed in the application for authority to engage in trust business, and, if so, describing such difference.(b) As an administrative standard, if the Commissioner finds that the trust department of an applicant is to be different in any material respect from what was proposed in the application for authority to engage intrust business, and that, if such difference had existed at the time when the Commissioner decided such application for authority to engage in trust business, he would have denied the application, the Commissioner will not issue a certificate of authority to the applicant authorizing it to engage in trust business.Cal. Code Regs. Tit. 10, § 10.3857
1. Change without regulatory effect amending section and adding new NOTE filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).
2. Amendment of subsection (a) filed 4-14-98; operative 5-14-98 (Register 98, No. 16). Note: Authority cited: Section 215, Financial Code. Reference: Sections 1500.1 and 1934, Financial Code.
1. Change without regulatory effect amending section and adding new Note filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).
2. Amendment of subsection (a) filed 4-14-98; operative 5-14-98 (Register 98, No. 16).