Section 31152.5 Of Chapter 3. Licensing From California Financial Code >> Division 15. >> Chapter 3.
31152.5
. (a) For purposes of Section 31152, the commissioner may
find:
(1) That a director, officer, or controlling person of an
applicant is not of good character if the director, officer, or
controlling person or any director or officer of the controlling
person has been convicted of, or has pleaded nolo contendere to, a
crime involving fraud or dishonesty.
(2) That it is not reasonable to believe that an applicant, if
licensed, will comply with all applicable provisions of this division
and of any regulation or order issued under this division if the
applicant has been convicted of, or has pleaded nolo contendere to, a
crime involving fraud or dishonesty.
(b) Subdivision (a) shall not be deemed to be the only grounds
upon which the commissioner may find, for purposes of Section 31152,
that a director, officer, or controlling person of an applicant is
not of good character or that it is not reasonable to believe that an
applicant, if licensed, will comply with all applicable provisions
of this division and of any regulation or order issued under this
division.