Section 16411 - Financial Institution Request for Cultivation Licensee InformationA financial institution as defined in Business and Professions Code section 26260(c)(3) may request information related to a cultivation licensee for purposes of facilitating the provision of financial services for that licensee. The request shall be made in writing, through a form prescribed by the Department, which shall include the following information:
(a) The name of the financial institution;(b) The name, phone number, email, and signature of the representative of the financial institution requesting information;(c) The business name and license number of the licensee for which the financial institution is requesting information;(d) The type of financial services for which the information is requested (including, but not limited to, establishment or maintenance of bank accounts, extending loans, and providing insurance) and whether the request is for consideration of a new service or maintenance of an existing service;(e) The specific information requested as described in section 16410(b) if authorized by the licensee; and(f) An acknowledgment that use of the information is limited to that which is necessary for the provision of financial services.Cal. Code Regs. Tit. 4, § 16411
1. New section filed 9-27-2021 as an emergency; operative 9-27-2021 (Register 2021, No. 40). This filing is a deemed emergency pursuant to Business and Professions Code sections 26013(b)(3) and 26153.1(k). A Certificate of Compliance must be transmitted to OAL by 3-28-2022 or emergency language will be repealed by operation of law on the following day. Note: Authority cited: Section 26013, Business and Professions Code. Reference: Section 26260, Business and Professions Code.
1. New section filed 9-27-2021 as an emergency; operative 9/27/2021 (Register 2021, No. 40). This filing is a deemed emergency pursuant to Business and Professions Code sections 26013(b)(3) and 26153.1(k). A Certificate of Compliance must be transmitted to OAL by 3-28-2022 or emergency language will be repealed by operation of law on the following day.