Statute · California Financial Code
Cal. Fin. Code § 50206 — Financial Condition, Transaction and Bond Requirements
Cal. Fin. Code § 50206
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 2009-10-11
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) Prior to a change of control of the business of a licensee, the person wishing to acquire control shall submit an application to the commissioner and pay an investigation fee of one hundred dollars ($100). The application shall contain the information that the commissioner, by rule, may…
Citator
Cal. Fin. Code § 50206 — Financial Condition, Transaction and Bond Requirements is in force in the current edition of the Code, and nothing recorded condemns it.
(a) Prior to a change of control of the business of a licensee, the person wishing to acquire control shall submit an application to the commissioner and pay an investigation fee of one hundred dollars ($100). The application shall contain the information that the commissioner, by rule, may prescribe as necessary to determine that the person meets the requirements of Section 50121.
(b) The commissioner shall approve or disapprove the proposed change of control of a licensee in accordance with the provisions of Section 50126.
(c) Upon notification by the commissioner that the change of control has been disapproved, the acquiring party shall immediately cease any activity subject to regulation under this division.