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HomeFinancial CodeDiv. 1Ch. 3Art. 2§ 323 Commissioner Qualifications And Residency

§ 323 Commissioner Qualifications And Residency

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 323 Commissioner Qualifications And Residency

Key Takeaways

  • •The person in charge (commissioner) must be a U.S. citizen.
  • •They must have lived in the state for at least 3 years before getting the job.
  • •They are picked only because they are good at the job, not for other reasons.

Example

If someone wants to be the commissioner but just moved to the state last year, they can't get the job.

The law says you have to live in the state for 3 years first. So they'd have to wait 2 more years.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 323 Commissioner Qualifications And Residency

The commissioner shall be a citizen of the United States and a resident of the state for at least three years prior to his or her appointment. The commissioner shall be chosen solely for his or her qualifications and fitness to perform the duties of his or her office. (Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)

Last verified: January 23, 2026

Key Terms

commissionunited statesabilityappointment

Related Statutes

  • § 322 Commissioner Appointment Authority
  • § 328 Interagency Financial Agreements
  • § 14252 Large Credit Union Audit Requirement
  • § 2037 Licensee Security Deposit Requirements
  • § 23063 Good Faith Compliance Protection

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 323.
View Official Source