In determining whether to approve or deny an application by a California industrial loan company 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 industrial loan company.
(b) Any other factors that the commissioner deems relevant.
(Amended by Stats. 1996, Ch. 887, Sec. 62. Effective September 25, 1996.)