§ 8153 Federal Report Acceptance

Financial Code·California

AI SummaryVerified

Key Takeaways

•The boss in charge can use reports or checks done by other trusted groups (like the government or approved accountants) instead of doing their own.
•If the government is already checking a bank or financial group, the boss can team up with them to do the check together.
•The boss must approve who does the checking if it's not them.

Example

A bank gets checked by the federal government every year.

Instead of the state boss doing their own check, they can just use the federal government’s report to save time.

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

Official Source

View on CA.gov

§ 8153 Federal Report Acceptance

(a) In lieu of a report or an examination under Section 8150 or 8152, the commissioner may accept any report made to, or examination made by, a federal or state authority that supervises financial institutions, or by a certified or other public accountant or firm of certified or other public accountants selected by the association and approved by the commissioner. (b) An examination under Section 8152 may be conducted in conjunction with an examination by a federal authority that supervises financial institutions. (Added by Stats. 1983, Ch. 1091, Sec. 2.)

Last verified: January 23, 2026

Key Terms

examination commission port authority the california association conjunction

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 8153.

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Key Takeaways

Example

Key Terms

Related Statutes

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