Section 17213.5 Of Chapter 2. License And Bond From California Financial Code >> Division 6. >> Chapter 2.
17213.5
. Licensees of this division shall be entitled to establish
additional business office locations by compliance with all of the
following:
(a) Filing with the commissioner notice of the intended address,
or addresses.
(b) Payment of the fees prescribed in Section 17207.
(c) Filing with the commissioner any additional bonds for the
purposes set forth in Sections 17202 and 17203. In addition to the
amount required by Section 17202, the amounts for additional office
locations shall be five thousand dollars ($5,000) for each additional
location. The aggregate amounts of all bonds given by a licensee
under this section shall be for the purpose of complying with the
conditions of Sections 17202 and 17203 regardless of the office
location at which any act violating those conditions takes place, and
upon payment of the aggregate amount, the surety is completely
released from further liability under the bond or bonds. An escrow
agent licensed prior to January 1, 1996, shall comply with the
requirements of this subdivision at the time of the next renewal of
its bond.
(d) Filing with the commissioner financial statements prepared in
accordance with generally accepted accounting principles. If the
licensee's fiscal year end is more than six months before the date of
filing the application, the commissioner may require current
financial statements which shall not be more than 60 days old. The
interim financial statements may be unaudited.
(e) Filing with the commissioner the names and addresses of the
licensee's owners and employees to be stationed at the new location,
showing that the operation of the additional office, or offices, will
be under the complete management and control of the parent licensee.
(f) Filing with the commissioner statements offsetting and meeting
each of the conditions set forth in Section 17209.3.
With respect to all applications for authorization to establish
additional locations, the commissioner shall promptly commence his or
her investigation and review of the application.
The commissioner shall within 30 days from the receipt by the
commissioner of a separate and complete application, license the
designated premises as a branch of the parent licensee, unless the
commissioner finds (1) that the applicant has failed to comply with
all of the requirements of this section, (2) that the applicant then
fails to meet any of the standards applicable for the issuance of a
license pursuant to Section 17209.3, or (3) that a hearing shall be
held to determine whether the application should be granted or
denied.