Section 10.4362 - Information Regarding Legal Proceedings(a) For purposes of this Section: (1) A proceeding involving an applicant or an affiliate of an applicant shall not be deemed to be material if it is an ordinary routine proceeding incidental to the business of the applicant or of such affiliate and if the amount of any damages (including interest and costs) claimed against the applicant or the affiliate does not exceed 10% of the shareholders' equity of the applicant.(2) Notwithstanding the provisions of Paragraph (1) of this Subdivision (a), each of the following proceedings shall be deemed to be material: (A) Any proceeding in which any person who is, or who is an associate of, any (1) director, (2) officer, or (3) ten percent (including associates) equity security owner of the applicant or an affiliate of the applicant, is a party adverse to the applicant or to any affiliate of the applicant.(B) Any proceeding in which the applicant, any affiliate of the applicant, or any of the persons referred to in Subparagraph (A) of this Paragraph (2) is a party adverse to any governmental agency which regulates banks.(C) Any proceeding brought by a shareholder of the applicant or of any affiliate of the applicant which names the applicant or such affiliate as a plaintiff or defendant.(D) Any bankruptcy, receivership, or similar proceeding.(b) State whether or not the applicant or any affiliate of the applicant is a party to, or any property of the applicant or of any affiliate of the applicant is the subject of, any material proceeding pending or threatened by or before any court or governmental agency, and, if so, describe such proceeding, including:(1) In case the proceeding is pending:(A) Title of the proceeding.(B) Name of the court or of the governmental agency before which the proceeding is pending.(C) Names of the parties to the proceeding.(D) Date the proceeding was commenced.(E) Allegations and responses made in the proceeding.(F) Relief sought in the proceeding.(G) Status of the proceeding.(2) In case the proceeding is threatened. (A) Name of the person threatening to commence the proceeding.(B) Allegations made by such person.(C) Name of the court or of the governmental agency before which the proceeding is threatened to be commenced.(D) Relief threatened to be sought in the proceeding.Cal. Code Regs. Tit. 10, § 10.4362
1. Amendment of subsection (a)(1), repealer of subsections (a)(2)(D) and (a)(2)(E), subsection relettering, and new NOTE filed 4-7-97; operative 4-7-97 pursuant to Government Code section 11343.4(d) (Register 97, No. 15). Note: Authority cited: Section 4831, Financial Code. Reference: Sections 4835 and 4944, Financial Code.
1. Amendment of subsection (a)(1), repealer of subsections (a)(2)(D) and (a)(2)(E), subsection relettering, and new Note filed 4-7-97; operative 4-7-97 pursuant to Government Code section 11343.4(d) (Register 97, No. 15).