§ 103.106. Facilities in Unopened Regional Shopping Centers.

(a) General. The provisions of this section govern unopened RSC's. If the RSC has opened and is in operation an application shall be handled under the provisions of Section 103.103 unless expressly excepted.

An RSC shall be considered open when one or more major department stores have opened for business with the general public. For purposes of this section, references to new facilities in an unopened RSC shall include new facilities located within one-quarter of a mile of the perimeter of such RSC.

(b) Preemptions:

(1) The area of preemption of a new association or branch located within an unopened RSC is as defined in Section 103.103(a)(6).

(2) The time period of preemption of a new association or branch in an unopened RSC shall be a period of 36 months from the date of approval, a period of nine months from the date of opening of such new association or branch or nine months from the date of opening of the RSC, whichever occurs first.

If a second application is approved under the provisions of this section, the time period of preemption shall be as set forth in this subsection.

(c) Procedures for Processing Applications:

(1) Prior to the opening date of an RSC the commissioner may approve one or more applications for a new facility for that RSC without regard to any area or time preemptions, subject to the following conditions:

(A) Competing applications may be consolidated in accordance with the provisions of Section 146.10(d).

(B) The commissioner may not approve a second application for a new association or branch, even if consolidated, until the Board has been allowed 90 days after the Weekly Notice of Filing of the first application to approve, deny or fail to act on a new application for that RSC.

(C) An application for change of location of an existing association or branch shall be considered a new association or branch under subsection (B) only if the old location is outside of and the new location is within the preemption area of the RSC. The application must then contain the information in (3) below.

(2) There shall be no more than two applications approved for an RSC before it is opened. An application for a subsequent branch or new association shall not be accepted for filing prior to the opening of the RSC, nor more than 120 days prior to the end of the periods of preemption of the approved applications.

(3) Applications for a new association or branch in an RSC shall include reasonable positive evidence that the shopping center will open within 36 months of the filing date of such application including executed copies of leases or letters of intent to lease from proposed major tenants; evidence of execution of a reciprocal easement agreement; evidence of compliance with applicable provisions of the California Environmental Quality Act of 1970, as amended; or other evidence acceptable to the commissioner.

HISTORY

1. Change without regulatory effect renumbering former Section 145.6 to Section 103.106 (Register 87, No. 14). For prior history, see Register 82, No. 16.

Note

Note: Authority cited: Section 5255, Financial Code. Reference: Sections 5500-5515, 5700-5702, 6000-6010 and 9000, Financial Code.