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Section 50206 Of Chapter 4. Financial Condition, Transaction And Bond Requirements From California Financial Code >> Division 20. >> Chapter 4.
50206
. (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.
(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.
