Section 50323 Of Chapter 5. Administration And Powers Of The Commissioner From California Financial Code >> Division 20. >> Chapter 5.
50323
. (a) No order issued pursuant to Section 50321 or 50322 may
become final except after notice to the affected licensee of the
commissioner's intention to make the order final and of the reasons
for the finding. The commissioner shall also notify the licensee that
upon receiving a request the matter will be set for hearing to
commence within 15 business days after receipt. The licensee may
consent to have the hearing commence at a later date. If no hearing
is requested within 30 days after the mailing or service of the
required notice, and none is ordered by the commissioner, the order
may become final without hearing and the licensee shall immediately
discontinue the practices named in the order. If a hearing is
requested or ordered, it shall be held in accordance with the
provisions of the Administrative Procedure Act (Chapter 5 (commencing
with Section 11500) of Part 1 of Division 3 of Title 2 of the
Government Code), and the commissioner shall have all of the powers
granted under that act. If, upon the hearing, it appears to the
commissioner that the licensee is conducting business in an unsafe
and injurious manner or is violating its articles of incorporation or
any law of this state, or any rule binding upon it, the commissioner
shall make the order of discontinuance final and the licensee shall
immediately discontinue the practices named in the order.
(b) The licensee has 10 days after an order is made final to
commence an action to restrain enforcement of the order. If the
enforcement of the order is not enjoined within 10 days by the court
in which the action is brought, the licensee shall comply with the
order.