California · Financial Code
FIN §31829: It shall be unlawful for any licensee, directly or indirectly, to sell or otherwise transfer any of its assets to any of its associates.
What this law says, in plain English
Licensees are prohibited from selling or transferring assets to their associates. Violation may result in administrative or civil consequences related to licensure.
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This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.