§ 107.204. Termination and Revocation.

In the event it is determined by the commissioner that an association has sold loans or participating interests in loans, without complying with the conditions stated above in addition to any other action taken, the commissioner may terminate blanket authority as to such association by giving notice, in writing, of such termination to said association. After receipt of notice of termination the association shall not sell any loans or participating interests in loans except with the prior written approval of the commissioner. The commissioner also reserves the right to revoke this authority as to any given association by giving written notice to that association whenever this action is necessary in the interests of the association, its savings accountholders, the savings and loan industry, or the general public.

HISTORY

1. Change without regulatory effect renumbering former Section 174 to Section 107.204 (Register 87, No. 14). For prior history, see Register 82, No. 11.

Note

Note: Authority cited: Section 5255, Financial Code. Reference: Sections 5019, 5021 and 5150 Financial Code.