Statute · California Financial Code
Cal. Fin. Code § 30206 — License
Cal. Fin. Code § 30206
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The commissioner may refuse to issue any license being applied for, and shall refuse to issue any license being applied for if upon his examination and investigation, and after appropriate hearing, he finds any of the following:
Citator
Cal. Fin. Code § 30206 — License is in force in the current edition of the Code, and nothing recorded condemns it.
The commissioner may refuse to issue any license being applied for, and shall refuse to issue any license being applied for if upon his examination and investigation, and after appropriate hearing, he finds any of the following:
(a) That the incorporators, directors, officers, or stockholders lack the character, experience, or general fitness to engage in such a business.
(b) That the proposed licensee’s program of safeguards with respect to custody, handling, recordkeeping, insurance, and auditing of securities on deposit is inadequate for the protection of investors.
(c) That the requirements with respect to ownership of capital stock of Section 30201 are not met.
(d) That the applicant is, or is in danger of becoming, insolvent.