In determining whether to approve or deny an application by a California state bank for approval to have an insured depository institution engage in authorized agency activities as its agent, the commissioner shall consider both of the following:
(a) Whether the proposed agency arrangement is consistent with the safe and sound operation of the California state bank.
(b) Any other factors that the commissioner deems relevant.
(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)