Cal. Financial Code - FIN § 350. Section 350.
The chief deputy shall be appointed by the Governor and hold office at the pleasure of the Governor. The annual salary of the chief deputy shall be fixed by the Governor.
ARTICLE 3. Deputies and Employees [350. - 357.]
Cal. Financial Code - FIN 3.
in effectCal. Financial Code - FIN § 351. Section 351.
(a)
The chief officer of the Division of Corporations and Financial Institutions is the Senior Deputy Commissioner of Financial Protection and Innovation for the Division of Corporations and Financial Institutions. The Senior Deputy Commissioner of Financial Protection and Innovation for the Division of Corporations and Financial Institutions shall be appointed by the Governor, subject to Senate confirmation, and shall hold office at the pleasure of the Governor. The Senior Deputy Commissioner of Financial Protection and Innovation for the Division of Corporations and Financial Institutions shall receive an annual salary as fixed by the Governor.
(b)
The chief officer of the Division of Consumer Financial Protection is the Senior Deputy Commissioner of Financial Protection and Innovation for the Division of Consumer Financial Protection. The Senior Deputy Commissioner of Financial Protection and Innovation for the Division of Consumer Financial Protection shall be appointed by the Governor, subject to Senate confirmation, and shall hold office at the pleasure of the Governor. The Senior Deputy Commissioner of Financial Protection and Innovation for the Division of Consumer Financial Protection shall receive an annual salary as fixed by the Governor.
Cal. Financial Code - FIN § 352. Section 352.
The commissioner may employ deputies in addition to the chief deputy, and examiners, appraisers, technical assistants, investigators, administrative assistants, clerks, and other employees that he or she may need to discharge in a proper manner the duties imposed upon him or her by law. He or she shall prescribe their duties and fix their compensation in accordance with classifications made by the State Personnel Board. The commissioner may also, at those times and on those terms as may
be approved by the Governor, employ those attorneys as he or she may need.
Cal. Financial Code - FIN § 353. Section 353.
Before entering upon the duties of his or her office each deputy and examiner shall take and subscribe to the constitutional oath of office.
Cal. Financial Code - FIN § 354. Section 354.
The commissioner may require, at any time, of any deputy, examiner, or other employee of the department, an official bond in such amount as the commissioner may deem necessary. The premium for bonds required by the commissioner shall be an expense of the department.
Cal. Financial Code - FIN § 355. Section 355.
The Commissioner of Financial Protection and Innovation, the Senior Deputy Commissioner of the Division of Financial Institutions, or any deputy or employee of the Division of Financial Institutions shall not do or be any of the following with respect to any bank, savings association, credit union, or industrial loan company supervised by the department:
(a)
Be indebted, directly or indirectly, as borrower, endorser, surety, or guarantor to any such bank, savings association, credit union, or industrial loan company.
(b)
Be an officer, director, or employee of any such bank, savings association, credit union, or industrial loan company.
(c)
Own or deal in
directly or indirectly, the shares or obligations of any such bank, savings association, credit union, or industrial loan company.
(d)
Be interested in or, directly or indirectly, receive from any such bank, savings association, credit union, or industrial loan company or any officer, director, or employee thereof, any salary, fee, compensation, or other valuable thing by way of gift, credit, compensation for services, or otherwise. However, this subdivision does not prohibit any person from being interested in or directly or indirectly receiving (1) anything which is expressly excluded from a definition of “gift” or “honorarium” in the Political Reform Act of 1974 (Title 9 (commencing with Section 81000) of the Government Code) or in regulations issued under the Political Reform Act of 1974 by the Fair Political Practices Commission or (2) anything which, if received by the commissioner, would constitute a gift or honorarium within the meaning
of the Political Reform Act of 1974 or regulations issued under the Political Reform Act of 1974 by the Fair Political Practices Commission but which the commissioner would not be prohibited from receiving under the Political Reform Act of 1974 or regulations issued under the Political Reform Act of 1974 by the Fair Political Practices Commission.
(e)
Be interested in or engage in the negotiation of any loan to, obligation of, or accommodation for another person to or with any such bank, savings association, credit union, or industrial loan company.
Notwithstanding the foregoing the commissioner and any deputy or employee may have and maintain one or more deposit or similar accounts in any bank, savings association, credit union, or industrial loan company in this state and may maintain with any bank, savings association, credit union, or industrial loan company in this state a loan which was not
obtained in violation of this section if the person reports the loan in writing to the department within 30 days after the person commences their term of appointment or employment with the department and if the loan is not renewed, renegotiated, extended, or otherwise modified on or after July 1, 1997.
A violation of this section by any person shall constitute sufficient grounds for their removal or discharge.
Cal. Financial Code - FIN § 356. Section 356.
If the commissioner is unable to perform his or her duties for more than 30 consecutive days or if the office of the commissioner becomes vacant, the chief deputy shall have all the powers and duties of the commissioner until the return or recovery of the commissioner, or, in case of a vacancy, until a new commissioner is appointed by the Governor and qualifies to hold office.
Cal. Financial Code - FIN § 357. Section 357.
If a deputy commissioner or any examiner has knowledge of the insolvency or unsafe condition of any licensee and willfully fails to report that fact to the commissioner in writing, he or she is guilty of a felony.
Source: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026