Statute · California Financial Code
Cal. Fin. Code § 3407 — Enforcement
Cal. Fin. Code § 3407
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 2024-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) If a person other than a licensee has engaged, is engaging, or is about to engage in digital financial asset business activity with, or on behalf of, a resident in violation of this division, the department may assess a civil penalty against the person in an amount not to exceed one hundred…
Citator
Cal. Fin. Code § 3407 — Enforcement is in force in the current edition of the Code, and nothing recorded condemns it.
(a) If a person other than a licensee has engaged, is engaging, or is about to engage in digital financial asset business activity with, or on behalf of, a resident in violation of this division, the department may assess a civil penalty against the person in an amount not to exceed one hundred thousand dollars ($100,000) for each day the person is in violation of this division.
(b) If a licensee or covered person materially violates a provision of this division, the department may assess a civil penalty in an amount not to exceed twenty thousand dollars ($20,000) for each day of violation or for each act or omission in violation.
(c) A civil penalty under this section continues to accrue until the date the violation ceases.