Section 10.4456 - Directors(a) Except with the prior approval of the Commissioner, no person shall be elected as a director of a subject institution at any time before such subject institution commences business other than a person who was a director of the applicant at the time when the application for approval to convert into the subject institution was approved by the Commissioner or who was named in such application as a proposed director of the subject institution.(b) An application for approval for the election of a person as a director of a subject institution shall contain: (1) Name of the proposed director.(2) Personal financial statement in the form of Department Form 2, containing the information called for therein, dated as of a date within 90 days before the filing of the application, and signed by the proposed director.(3) Confidential resume in the form of Department Form 3, dated as of a date within 90 days before the filing of the application, and signed by the proposed director.(4) Statement dated as of a date within 90 days before the filing of the application and signed by the proposed director, stating:(A) Commercial banking, trust, other financial, and other business experience of the proposed director, including, with respect to each position held, title, description of duties, name and address of employer, period of employment, and reason for leaving.(B) Whether or not the proposed director has had in the past or has presently any relationship with any bank as director, officer, employee, adviser, 15 percent equity security owner, or in any other capacity (other than solely as a customer), and, if so, the name of the bank and a description of the relationship, and, in the case of any present relationship, whether the proposed director intends to continue, change, or terminate such relationship if and when he becomes a director of the subject institution.Cal. Code Regs. Tit. 10, § 10.4456
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 (b)(4)(B), repealer of subsections (b)(4)(C)-(D), and amendment of NOTE filed 4-14-98; operative 5-14-98 (Register 98, No. 16). Note: Authority cited: Section 4831, Financial Code. Reference: Sections 4832, 4835, 4941, 4944, 4945 and 4948, 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 (b)(4)(B), repealer of subsections (b)(4)(C)-(D), and amendment of Note filed 4-14-98; operative 5-14-98 (Register 98, No. 16).