Section 14616 Of Chapter 1. General Provisions From California Government Code >> Division 3. >> Title 2. >> Part 5.5. >> Chapter 1.

. The director may exempt from his or her approval or from approval of the department any transactions involving not more than fifty thousand dollars ($50,000) for which such approval is required by statute whenever, in his or her judgment, such exemption is appropriate and in the best interests of the state. Written notice of exemptions shall be given to the Controller.