California

Financial Code

3,323 sections, each with the official text and a plain-English explanation of what it means for you.

• § 1 — This act is known and may be cited as the Financial Code.
• § 10 — The present tense includes the past and future tenses; and the future, the present.
• § 1000 — When authorized by the commissioner as provided in Chapter 3 (commencing with Section 1040) a corporation may be formed by one or more persons in accordance with the laws of this state for the purpose
• § 10000 — Terms not expressly defined in this chapter have the meaning given in Chapter 1 (commencing with Section 5000) or as the commissioner may provide by regulation.
• § 100000 — This division shall be known, and may be cited, as the Debt Collection Licensing Act.
• § 100000.5 — (a) The commissioner shall allow any debt collector that submits an application before January 1, 2023, to operate pending the approval or denial of the application.
• § 100000.7 — No county, city, or other political subdivision within this state shall require a debt collector to be licensed or to register as a debt collector.
• § 100001 — (a) No person shall engage in the business of debt collection in this state without first obtaining a license pursuant to this division.
• § 100002 — For purposes of this division, the following terms have the following meanings: (a) “Applicant” means a person, including a natural person, partnership, corporation, limited liability company, trust,
• § 100003 — (a) The commissioner shall administer this division and may adopt rules and regulations, and issue orders, consistent with that authority.
• § 100003.3 — (a) The proceedings for a revocation of a license shall be conducted in accordance with Chapter 5 (commencing with Section 11500) of Part 1 of Division 3 of Title 2 of the Government Code.
• § 100004 — (a) Notwithstanding any law the commissioner shall have the authority to conduct investigations and examinations of an applicant or licensee as follows: (1) For purposes of determining whether an appl
• § 100005 — (a) If, in the opinion of the commissioner, a person who is required to be licensed under this division is engaged in business as a debt collector without a license from the commissioner, or a person
• § 100006 — (a) Notwithstanding any law, the commissioner may by rule or order prescribe circumstances under which to accept electronic records or electronic signatures.
• § 100006.3 — (a) The commissioner may require an applicant for a license to make some or all of the filings with the commissioner through the Nationwide Multistate Licensing System & Registry.
• § 100006.5 — (a) The Debt Collection Licensing Fund is hereby established within the state treasury.
• § 100007 — An applicant shall apply for a license by submitting all of the following to the commissioner: (a) A completed application for a license in a form prescribed by the commissioner and signed under penal
• § 100008 — (a) The commissioner shall require a background investigation of each applicant by means of a Federal Bureau of Investigation criminal history record check of the individuals subject to investigation
• § 100009 — (a) (1) Upon the filing of an application for a license pursuant to Section 100007 and the payment of the fees, if the applicant is a partnership, the commissioner shall investigate all of the followi
• § 10001 — (a) No person, other than a California savings association or other person authorized by this division, shall do any business of an association.
• § 100011 — (a) When the application is complete, including the information from the Department of Justice, and the commissioner determines that the applicant has satisfied the requirements set forth in this divi
• § 100012 — (a) The proceedings for a denial of a license shall be conducted in accordance with Chapter 5 (commencing with Section 11500) of Part 1 of Division 3 of Title 2 of the Government Code.
• § 100013 — (a) The commissioner may deem an application for a license abandoned if the applicant fails to respond to any request for information required by the commissioner or department during an investigation
• § 100014 — A license shall remain effective until the license is either suspended or revoked by the commissioner or surrendered by the licensee.
• § 100015 — (a) The commissioner is authorized to establish relationships or contracts with the Nationwide Multistate Licensing System & Registry or other entities designated by the Nationwide Multistate Licensin
• § 100016 — (a) Except as otherwise provided in Section 1512 of the SAFE Act (12 U.
• § 100017 — The commissioner shall report regularly violations of this division, as well as enforcement actions and other relevant information, to the Nationwide Multistate Licensing System & Registry, to the ext
• § 100018 — (a) A licensee shall notify the commissioner, in writing, of any change in the information provided in the application for a license, as applicable, not later than 30 days after the occurrence of the
• § 100019 — A licensee shall do all of the following: (a) Develop policies and procedures reasonably intended to promote compliance with this division.
• § 10002 — Notwithstanding Section 10001, and subject to Section 10003, on and after January 1, 1991, a foreign savings association may conduct the business of an association in California or may acquire control
• § 100020 — (a) Each licensee shall pay to the commissioner its pro rata share of all costs and expenses reasonably incurred in the administration of this division, as estimated by the commissioner, for the ensui
• § 100021 — (a) A licensee shall file an annual report with the commissioner, on or before March 15, that contains all relevant information that the commissioner reasonably requires concerning the business and op
• § 100022 — A licensee that ceases to engage in debt collection shall inform the commissioner in writing and surrender the license and all other indicia of license to the commissioner.
• § 100023 — (a) As often as the commissioner deems necessary and appropriate, the commissioner shall examine the affairs of each licensee for compliance with this division.
• § 100025 — (a) There is within the Department of Financial Protection and Innovation, a Debt Collection Advisory Committee.
• § 10003 — No foreign savings association may conduct the business of an association in California, and no foreign savings association or foreign holding company may acquire control of a California savings assoc
• § 10004 — Except as expressly provided for in this chapter, any person who, as principal, agent, salesperson, solicitor, or in any other capacity, solicits or conducts in this state the business of selling, dis
• § 10005 — For the purposes of this article and any other law of this state prohibiting, limiting, or regulating the doing of business or the selling, taking, or solicitation of savings accounts in this state by
• § 10006 — Except as provided by regulation, this division applies to a foreign savings association or its holding company as if business conducted in this state were that of a California savings association.
• § 10007 — If a foreign savings association is controlled by a foreign holding company, the requirements under this chapter applicable to both a foreign savings association and foreign holding company are requir
• § 10009 — This chapter shall become operative on January 1, 1991.
• § 1001 — This division is known, and may be cited, as the “Banking Law.
• § 1002 — No bank shall be a close corporation (as defined in Section 158 of the Corporations Code).
• § 1003 — Except where explicitly stated or the context provides otherwise, this division is applicable to the following: (a) All corporations engaging in commercial banking, industrial banking, or the trust bu
• § 1004 — (a) A California state bank is a corporation incorporated under Division 1 (commencing with Section 100) of Title 1 of the Corporations Code or, in the case of a public bank, a corporation incorporate
• § 1005 — It shall be unlawful for any person, corporation, limited liability company, partnership, firm, or any other form of business entity allowed by law, to engage in or transact commercial banking busines
• § 1006 — No corporation shall hereafter be organized under the laws of this state to transact the business of a commercial bank, industrial bank, or trust company, except as provided in this chapter.
• § 1007 — Neither the enactment of this code nor the amendment or repeal thereof, nor the repeal of any statute affected thereby, shall take away or impair any liability or cause of action existing or incurred
• § 1008 — When applicable to a corporation organized as a public bank, as defined in Section 57600 of the Government Code, references in this division to share, shareholder, or stockholder shall mean membership
• § 101 — If and to the extent that any provision of the Financial Institutions Law is preempted by federal law, the provision does not apply and shall not be enforced.
• § 1020 — The request for authority to organize and establish a corporation to engage in the banking or trust business shall be set forth in an application in such form and containing such information as the co
• § 1021 — Upon receiving a request for an application, the commissioner shall inform the prospective applicant in writing that the commissioner is available to confer with such prospective applicant in advance
• § 1022 — Upon the filing of an application the commissioner shall make or cause to be made a careful investigation and examination relative to the following: (a) The character, reputation, and financial standi
• § 1023 — The commissioner may give or withhold his or her approval of the application in his or her discretion, but he or she shall not approve the application until he or she has ascertained to his or her sat
• § 1024 — (a) In this section, “control” has the meaning set forth in Section 1250.
• § 1025 — At least 30 days before denying an application, the commissioner shall by mail or other method of service give written notice of the intended denial of an application and of the right of the applicant
• § 1026 — The commissioner may, in approving an application to organize and establish a corporation to engage in the banking or trust business pursuant to Section 1023, impose any conditions the commissioner de
• § 1027 — (a) With the approval of the commissioner, a bank may be formed to facilitate a merger or an acquisition of control.
• § 103 — The word “bank” as used in the Financial Institutions Law means any incorporated banking institution that shall have been incorporated to engage in commercial banking business, industrial banking, or
• § 1040 — In this article: (a) “Preopening expenditure” means any obligation incurred, or sum disbursed, by a bank prior to the time when it commences to transact banking business, for the purpose of organizing
• § 1041 — The articles of incorporation of the proposed bank or trust company shall be submitted to the commissioner for his or her approval before they are filed with the Secretary of State pursuant to the Cor
• § 1042 — If the commissioner finds that the proposed bank or trust company has in good faith complied with all the requirements of law and fulfilled all the conditions precedent to commencing business imposed
• § 1043 — It shall be unlawful to accept payment of subscriptions for shares of any corporation proposing to engage in the banking or trust business unless authority to organize such corporation has been grante
• § 1044 — No corporation organized to transact a commercial banking or trust business shall transact any business until the commissioner has issued his or her certificate authorizing it to transact such busines
• § 1045 — If the proposed bank or trust company fails to file evidence of incorporation and organization with the commissioner pursuant to Section 1041 within one year after the approval of the application for
• § 1046 — If the proposed bank or trust company fails to open for business within 90 days after the issuance of the certificate of authorization, the right to transact business automatically terminates.
• § 1047 — It is unlawful to apply any part of the funds collected from subscribers or shareholders to the payment of commissions or fees for obtaining subscriptions or selling shares or, except with the prior a
• § 1048 — Every bank and trust company shall keep posted in a conspicuous place in its banking room at its head office the certificate of authority to transact a banking or trust business issued by the commissi
• § 105 — Banks are divided into the following classes: (a) Commercial banks.
• § 107 — “Commercial bank” means a corporation organized for the purpose of engaging in the commercial banking business.
• § 1070 — For purposes of this chapter, the following definitions apply: (a) “Automated teller machine” means any electronic information processing device used by a financial institution and its customers for t
• § 1071 — The commissioner shall issue a certificate in duplicate authorizing a bank to establish and maintain an office.
• § 1072 — Every bank shall establish and maintain a head office which shall be located in this state.
• § 1073 — A bank, with the approval of its board, may establish and maintain one or more offices.
• § 1074 — A bank, with the approval of its board, may relocate an office.
• § 1075 — A bank, with the approval of its board, may redesignate offices.
• § 1076 — Each time a bank establishes an office, relocates an office, or redesignates an office, the bank shall, within 10 days of the establishment, relocation, or redesignation of the offices, file a notice
• § 1077 — On or before January 1 of each year, every bank shall file with the commissioner a list of all offices that are currently maintained and operated by the bank.
• § 1078 — (a) A bank may close or discontinue the operation of any branch office if, before the closing or discontinuance, (1) the bank files with the commissioner a notice containing the information in subdivi
• § 1079 — If the commissioner finds for any reason that the establishment, relocation, or redesignation of office would be unsafe or unsound for a bank, the commissioner may order the bank not to establish, rel
• § 1080 — If a bank violates any provision of this chapter or fails to comply with any order, the commissioner may levy a penalty against the bank pursuant to Section 329.
• § 1081 — A bank, with the approval of its board, may discontinue a facility office.
• § 1082 — Any bank that establishes a branch office in this state in accordance with Section 36(g)(1)(A) of the National Bank Act (12 U.
• § 1083 — (a) A bank may participate in a financial education program that involves receiving deposits or paying withdrawals on the premises of, or at a facility used by, a school.
• § 109 — “Commercial banking business” includes, but is not limited to, the business of soliciting, receiving, or accepting of money or its equivalent on deposit as a regular business whether the deposit is ma
• § 1090 — This chapter is known and may be cited as the “Bank Extraordinary Situation Closing Act.
• § 1091 — “Extraordinary situation” means any condition or occurrence, other than as set forth in Section 592, that may interfere or is inconsistent with the conduct of normal business operations at one or more
• § 1092 — Whenever the commissioner determines that an extraordinary situation exists anywhere in this state the commissioner may, by proclamation, authorize banks located in the affected area or areas to close
• § 1093 — (a) Whenever the officers of a bank are of the opinion that an extraordinary situation exists which affects or may affect one or more of a bank’s offices, they shall have the authority in the reasonab
• § 1094 — A bank closing an office or offices pursuant to the authority granted under subdivision (a) of Section 1093 shall give prompt notice of its action to the commissioner, by any means available.
• § 1095 — Any day on which a bank or any one or more of its offices is closed pursuant to the authorization granted by this chapter shall be, with respect to such bank or any of its offices which are closed, a
• § 1096 — Provisions of this chapter shall be construed and applied as being in addition to, and not a substitution for, or limitation of, any other law of this state or the United States authorizing the closin
• § 11 — The masculine gender includes the feminine and neuter.
• § 11.2 — “Spouse” includes “registered domestic partner,” as required by Section 297.
• § 1100 — The articles of each bank shall contain the applicable one of the following statements: (a) Except as provided in subdivision (f), if the bank is, or is proposed to be, a commercial bank not authorize
• § 110000 — For purposes of this division, the following definitions apply: (a) “Ammunition” has the same meaning as provided in subdivision (b) of Section 16150 of the Penal Code.
• § 110001 — (a) By July 1, 2024, a payment card network shall make the merchant category code for firearms and ammunition businesses established by the International Organization for Standardization on September
• § 110002 — (a) The Attorney General has exclusive authority to enforce this division.
• § 1101 — (a) In this section: (1) “Assessment provision” means the provision in the articles of a bank that complies with the requirements of Section 600.
• § 1102 — (a) No amendment of the articles of a bank (other than an amendment set forth in an agreement of merger or in a certificate of ownership executed pursuant to Section 1110 of the Corporations Code that
• § 1103 — No restated articles of a bank shall become effective unless the certificate setting forth such restated articles is filed with the Secretary of State with the commissioner’s approval endorsed thereon
• § 1104 — No certificate of determination of a bank shall become effective unless such certificate of determination is filed with the Secretary of State with the commissioner’s approval endorsed thereon.
• § 1105 — No certificate of correction of a bank shall become effective unless such certificate of correction is filed with the Secretary of State with the commissioner’s approval endorsed thereon.
• § 1106 — No certificate of revocation of a bank shall become effective unless such certificate of revocation is filed with the Secretary of State with the commissioner’s approval endorsed thereon.
• § 1107 — (a) A bank may change its name if it files with the commissioner a report on the proposed change not less than 30 days before the change.
• § 111 — “Industrial bank” means a corporation organized for the purpose of engaging in the industrial banking business.
• § 1120 — A bank may, with the approval of its board, determine and from time to time redetermine the par value of any class or series of its shares unless its articles provide that such shares shall have par v
• § 1121 — No bank or trust company after October 1, 1949, shall issue any shares before they are fully paid for.
• § 1122 — No bank shall issue any shares in consideration of: (a) Services rendered in the organization of such bank; or (b) Any note (whether or not negotiable and whether or not secured) made by the purchaser
• § 113 — “Industrial banking business” includes the making of loans and acceptance of deposits, including deposits evidenced by investment or thrift certificates, but excluding demand deposits.
• § 1130 — This article does not apply to any distribution made to the shareholders of a bank in any proceeding to wind up and dissolve or to liquidate such bank.
• § 1131 — Section 500 of the Corporations Code does not apply to the making by a bank or by any majority-owned subsidiary of a bank of any distribution to the shareholders of such bank.
• § 1132 — Neither a bank nor any majority-owned subsidiary of a bank shall make any distribution to the shareholders of such bank in an amount which exceeds the lesser of: (a) The retained earnings of the bank;
• § 1133 — Notwithstanding the provisions of Section 1132, a bank or a majority-owned subsidiary of a bank may, with the prior approval of the commissioner, make a distribution to the shareholders of such bank i
• § 1134 — Notwithstanding the provisions of Section 1132, a bank may: (a) With the prior approval of the commissioner, make a distribution to its shareholders by means of redeeming its redeemable shares; and (b
• § 1135 — If the commissioner finds that the shareholders’ equity of a bank is not adequate or that the making by a bank or by any majority-owned subsidiary of a bank of a distribution to the shareholders of th
• § 115 — “Trust business” means the business of acting as executor, administrator, guardian or conservator of estates, assignee, receiver, depositary or trustee under the appointment of any court, or by author
• § 1150 — In determining for purposes of this division whether the shareholders’ equity of a bank or of a proposed bank is adequate, the commissioner shall consider: (a) The nature and volume of the business of
• § 1151 — For purposes of any statute, regulation, or requirement of any governmental official or agency which refers to the capital (including, without limitation, stated capital, paid-in capital, and paid-up
• § 1152 — A bank which has deficit retained earnings may, with the prior approval of its outstanding shares and of the commissioner, readjust its accounts in a quasi-reorganization.
• § 117 — “Trust company” means a corporation, industrial bank, or a commercial bank that is authorized to engage in the trust business.
• § 1170 — Any reference in this article to the time a notice is given or sent shall be construed in accordance with Section 118 of the Corporations Code.
• § 1171 — The board of a bank or trust company hereafter organized shall consist of not less than 5 nor more than 25 directors, and no bank or trust company shall amend its articles or bylaws so as to reduce th
• § 1172 — The board of each bank and of each trust company shall hold a meeting not less than once each calendar quarter.
• § 1173 — The commissioner may, in the name of the people of this state, bring or intervene in an action under Section 709 of the Corporations Code to determine the validity of any election or appointment of an
• § 1174 — (a) The commissioner shall be deemed to be a party in interest within the meaning of Section 306 of the Corporations Code with respect to a bank and may, in the name of the people of this state, bring
• § 1175 — (a) For purposes of Section 316 of the Corporations Code, to the extent that the making by a bank or by any majority-owned subsidiary of a bank of a distribution to any shareholder of the bank is cont
• § 1176 — (a) For purposes of Section 316 of the Corporations Code, the making of a loan or guarantee by a bank or any other extending of credit by a bank contrary to any provision of this division shall be dee
• § 119 — “Bank” or “banks” includes a public bank, as defined in Section 57600 of the Government Code, commercial banks, industrial banks, and trust companies unless the context otherwise requires.
• § 1190 — (a) Paragraph (1) of subdivision (b) of Section 1501 of the Corporations Code does not apply to the annual report of any bank with respect to any transaction consisting of an extension of credit by su
• § 12 — The singular number includes the plural and the plural the singular.
• § 1200 — Unless the context otherwise requires, in this chapter: (a) “Offer” or “offer to sell” includes every attempt or offer to dispose of, or solicitation of an offer to buy, a security for value.
• § 12000 — This division is known and may be cited as the Check Sellers, Bill Payers and Proraters Law.
• § 12001 — Unless the context otherwise requires, the definitions set forth in this chapter govern the construction of this division.
• § 12002 — A check seller is a person: (a) who, for compensation, engages, in whole or in part, in the business of selling checks, drafts, money orders, or other commercial paper serving the same purpose, or rec
• § 12002.1 — A prorater is a person who, for compensation, engages in whole or in part in the business of receiving money or evidences thereof for the purpose of distributing the money or evidences thereof among c
• § 12002.2 — A business agent, for the purpose of this division is a person who engages in business as a prorater as defined in Section 12002.
• § 12003 — “Commissioner” means the Commissioner of Financial Protection and Innovation, or any deputy, investigator, auditor, or any other person employed by the commissioner.
• § 12004 — “Licensee” means any individual or corporation licensed by the commissioner to engage in the business of a business agent, and any corporation licensed by the commissioner to engage in the business of
• § 12005 — “Mobile unit” means a vehicle or other movable means from which the business of selling checks, drafts, or money orders is conducted.
• § 1201 — No bank organized under the laws of this state shall offer or sell any security issued by it unless the commissioner has issued a permit authorizing such sale.
• § 1202 — The following transactions are exempt from Section 1201: (a) (1) Any offer (but not a sale) not involving a public offering by a bank organized under the laws of this state of its securities and the e
• § 1203 — An application for a permit shall be in such form and contain such information as the commissioner may prescribe.
• § 1204 — The commissioner shall charge and collect fees for applications filed under this chapter as fixed in this section.
• § 1205 — If the commissioner finds that the proposed sale of securities is fair, just, and equitable, he or she shall issue to the applicant a permit authorizing it to offer and sell the securities in such amo
• § 1206 — The commissioner may impose conditions in any permit issued under Section 1205, requiring the deposit in escrow of securities, imposing a legend condition restricting the transferability thereof, impo
• § 1207 — Every permit issued pursuant to Section 1205 shall recite that it is permissive only and does not constitute a recommendation or endorsement of the securities permitted to be sold.
• § 1208 — The commissioner may amend, alter, suspend, or revoke any permit issued pursuant to Section 1205.
• § 1209 — Whenever a bank applies for a permit to issue any security or to deliver any other consideration (whether or not such security or such transaction is exempt from, or not subject to, the provisions of
• § 121 — (a) “Office” includes head office, branch office, and any other authorized place of business of a licensee.
• § 1210 — There shall be exempted from the provisions of Section 1201 any transaction or security, including, without limitation, any type or class of transactions or securities, which the commissioner by regul
• § 12100 — This division does not apply to any of the following: (a) Any person, or his or her authorized agent, doing business under license and authority of the Commissioner of Financial Institutions under Div
• § 12101.5 — In any proceeding under this law, the burden of proving an exemption or an exception from a definition is upon the person claiming it.
• § 12102 — Any person who willfully violates any provision of this division, or who willfully violates any rule or order under this division, shall, upon conviction, be fined not more than ten thousand dollars (
• § 12102.1 — A licensee under this division or any person engaged in the same type of business as licensed under this division whether said person is licensed or not shall be deemed to be an agent as defined under
• § 12103 — Whenever in the opinion of the commissioner any person is engaged in business as a check seller as defined in this division without a license from the commissioner, or any person or licensee is violat
• § 12104 — A nonprofit community service organization that meets all of the following criteria shall be exempt from any requirements imposed on proraters pursuant to this division: (a) The nonprofit community se
• § 12105 — (a) Whenever it appears to the commissioner that any person has engaged or is about to engage in any act or practice constituting a violation of any provision of this division, or any rule or order pr
• § 12106 — (a) The commissioner may do the following, at his or her discretion: (1) Make public or private investigations within or outside of this state necessary to determine whether any person has violated, o
• § 12107 — (a) If, upon inspection or investigation, based upon a complaint or otherwise, the department has cause to believe that a person is engaged in business without a license, or a person or licensee is vi
• § 12108 — (a) The remedies available to the commissioner pursuant to this division are not exclusive and may be sought and employed in any combination deemed advisable by the commissioner to enforce the provisi
• § 1211 — A bank at any time may, with the approval of its board, issue, sell or hypothecate its capital notes or debentures which may be payable upon such terms and may bear such rate of interest, if any, as m
• § 1212 — Nothing contained in this chapter shall affect the Corporate Securities Law of 1968, Division 1 (commencing with Section 25000) of Title 4 of the Corporations Code.
• § 12200 — No person shall engage in the business, for compensation, of selling checks, drafts, money orders, or other commercial paper serving the same purpose, or of receiving money as agent of an obligor for
• § 12200.2 — A license as a business agent or special prorater may be issued to an individual.
• § 12200.5 — The commissioner shall classify and license applicants for a proraters license in accordance with the nature of their existing or proposed business and the extent of regulation required thereby in the
• § 12201 — (a) An application for a license shall be in writing, under oath, and in a form prescribed by the commissioner and shall contain the name, and the address both of the residence and place of business,
• § 12202 — If the business is to be conducted at a specific address or addresses, the address or addresses at which the business is to be conducted shall be included in the application.
• § 12203 — If the business is to be conducted from a mobile unit, the California state registration number or other identification of such mobile unit and the area in which the applicant proposes to operate such
• § 12204 — The application shall specify the type of business for which a license is requested and shall also contain such other information as the commissioner may reasonably require.
• § 12205 — (a) A licensed bill payer, general prorater, or special prorater who does not qualify to make use of agencies in the conduct of its business at all times shall maintain a surety bond in an amount as r
• § 12206 — (a) If the applicant is to engage in the business of receiving money for the purpose of paying bills, invoices or accounts of an obligor, the applicant shall file with the commissioner concurrently wi
• § 12207 — The bond shall be approved by the commissioner.
• § 12208 — The bond shall be conditioned that the obligor will faithfully conform to and abide by the provisions of this division and of all rules and regulations made by the commissioner pursuant to this divisi
• § 12209 — The bond shall remain in force and effect until the surety is released from liability by the commissioner, or until the bond is canceled by the surety.
• § 12212 — No action may be brought on the bond by any person after the expiration of two years from the time when the act or default complained of occurred.
• § 12213 — When an action is commenced on the bond of a licensee the commissioner may require the filing of a new bond, and immediately upon the recovery of any action on the bond the licensee shall file a new b
• § 12214 — (a) An applicant at the time of filing an application for a license under this division shall pay to the commissioner the sum of fifty dollars ($50) as a fee for investigating the application and two
• § 12216 — (a) Upon the filing of the application and the payment of the fees and the approval of the bond, the commissioner shall investigate and examine the following: (1) The background and experience of the
• § 12217 — Each license shall state the following: (a) The name of the licensee, and if the licensee is a partnership or association the names of the members, or if the licensee is a corporation the date and pla
• § 12218 — The license shall be kept conspicuously posted in the principal place of business of the licensee.
• § 12219 — The license is not transferable or assignable.
• § 12220 — The commissioner may by regulation require licensees to file at such times as he may specify such information as the commissioner may reasonably require regarding any changes in the information provid
• § 12221 — Upon reasonable notice and opportunity to be heard, the commissioner may deny the application for the license for any of the following reasons: (a) A false statement of a material fact has been made i
• § 12223 — The commissioner may require a licensee, in addition to the bond provided in Section 12206, to obtain an adequate fidelity bond for each officer, employee, agent, or any person having access to funds
• § 12225 — The commissioner may issue a duplicate of a license that has been lost, stolen, or destroyed, or for a certificate which the licensee desires to replace, upon satisfactory proof of such loss, theft, o
• § 123 — “Real property” and “personal property” have the meanings defined in and shall be construed in accordance with Title 1 (commencing with Section 654) of Part 1 of Division 2 of the Civil Code.
• § 12300 — The commissioner may make general rules and regulations and specific rulings, demands, and findings for the enforcement of this division.
• § 12300.1 — Licensees shall observe reasonable precautions against theft or alteration of checks, drafts or money orders, and against burglary or holdup.
• § 12300.2 — Every person engaging in the business of a check seller shall conduct the business under his or her true name unless he or she has complied with Chapter 5 (commencing with Section 17900) of Part 3 of
• § 12300.3 — All funds received by a licensee or its agents from the sale of checks, drafts, money orders, or other commercial paper serving the same purpose and for the purpose of paying bills, invoices, or accou
• § 12300.4 — Prior to such separation and transmittal to the licensee or deposit by its agent such funds received by said agent may be used by said agent for the sole purpose only of the making of change or cashin
• § 12300.5 — An amount equal to all such funds received by a licensee shall be separated from the funds of the licensee and deposited in its trust account not later than the end of the next business day following
• § 12300.6 — Prior to separation and deposit by the licensee such funds may only be used by the licensee for the making of change or the cashing of checks in the normal course of its business, and then only to the
• § 12301 — A licensee may establish branch offices or agencies if it is qualified under the provisions of Section 12205 and if it expressly assumes responsibility for the acts of any person selling checks, draft
• § 12301.1 — A licensee within 10 days after establishing a mobile unit, a branch office or agency location shall notify the commissioner in writing and shall furnish the commissioner with the name and address of
• § 12301.2 — A check, draft, or money order sold by a licensee shall be drawn on an account of a licensee maintained at a bank authorized to do business in the State of California.
• § 12301.3 — A licensee shall not permit any officer, employee, or agent to sell any check, draft, or money order unless the signature of the person signing the same is on file with the bank on which the check, dr
• § 12301.4 — A licensee shall terminate and cancel any agency immediately upon instruction from the commissioner and when it has been established (a) that the agent has refused to permit the examination of its boo
• § 12301.5 — No agent of a licensee shall issue or cause to be issued any check, draft, or money order, or other commercial paper serving the same purpose which is drawn upon the trust account of a licensee withou