Section 1601 - Branch Manager(a) No licensee shall permit a branch manager to be responsible for more than one branch location without the approval of the Commissioner as provided in Financial Code Section 22378.(b) A licensee shall file with the Commissioner a request to appoint one or more branch managers with responsibility for multiple branch locations. The request shall include the name of the branch manager and the branch address locations, and the information in Financial Code Section 22378 to allow the Commissioner to make a finding on the request.(c) Within 15 calendar days from the receipt of a request, the Commissioner shall make a finding and inform the licensee in writing that the request is approved and if disapproved, the reason(s) for disapproval.(d) The Commissioner may authorize a licensee participating in the pilot program to appoint the same branch manager to manage branch locations at which pilot program loans and non-pilot program loans are offered, subject to the Commissioner's review and approval, and upon a finding by the Commissioner that the terms of the non-pilot program loans, the nature of their underwriting, the disclosures provided to borrowers who obtain these non-pilot loans, and any other information the Commissioner deems necessary, does not require a unique branch manager to ensure consumer protection.Cal. Code Regs. Tit. 10, § 1601
1. New section filed 7-17-2014; operative 7-17-2014 pursuant to Government Code section 11343.4(b)(3) (Register 2014, No. 29). Note: Authority cited: Section 22150, Financial Code. Reference: Section 22378, Financial Code.
1. New section filed 7-17-2014; operative 7/17/2014 pursuant to Government Code section 11343.4(b)(3) (Register 2014, No. 29).