Jurris.COM
Chapter 10. Voluntary Surrender Of License of California Financial Code >> Division 15. >> Chapter 10.
Any licensee may surrender its license by filing with the
commissioner such license and a report which shall be in such form,
shall contain such information, shall be signed in such manner, and
shall (if the commissioner so requires by regulation or order) be
verified in such manner, as the commissioner may by regulation or
order require.
(a) Except as otherwise provided in subdivision (b), a
voluntary surrender of a license shall be effective on the 30th day
after such license and the report called for in Section 31650 are
filed with the commissioner or on such earlier date as the
commissioner may by order specify.
(b) If a proceeding to revoke or suspend a license is pending at the time when such license and the report called for in Section 31650 are filed with the commissioner or if a proceeding to revoke or suspend a license or to impose conditions upon the surrender of a license is instituted before the 30th day after such license and the report called for in Section 31650 are filed with the commissioner, the voluntary surrender of such license shall become effective at such time and upon such conditions as the commissioner may by order specify.
(b) If a proceeding to revoke or suspend a license is pending at the time when such license and the report called for in Section 31650 are filed with the commissioner or if a proceeding to revoke or suspend a license or to impose conditions upon the surrender of a license is instituted before the 30th day after such license and the report called for in Section 31650 are filed with the commissioner, the voluntary surrender of such license shall become effective at such time and upon such conditions as the commissioner may by order specify.
