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Financial Code - FIN - FIN § 12002.2
Financial Code - FIN - FIN § 12002.2
A business agent, for the purpose of this division is a person who engages in business as a prorater as defined in Section 12002.1 as an incident to the business of advising, counseling, or directing persons in their investments, and in the organization and management of their af
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Financial Code - FIN - FIN § 12003
Financial Code - FIN - FIN § 12003
“Commissioner” means the Commissioner of Financial Protection and Innovation, or any deputy, investigator, auditor, or any other person employed by the commissioner.
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Financial Code - FIN - FIN § 12004
Financial Code - FIN - FIN § 12004
“Licensee” means any individual or corporation licensed by the commissioner to engage in the business of a business agent, and any corporation licensed by the commissioner to engage in the business of selling checks, drafts or money orders, or of receiving money as agent of an ob
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Financial Code - FIN - FIN § 12005
Financial Code - FIN - FIN § 12005
“Mobile unit” means a vehicle or other movable means from which the business of selling checks, drafts, or money orders is conducted.
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Financial Code - FIN - FIN § 1201
Financial Code - FIN - FIN § 1201
No bank organized under the laws of this state shall offer or sell any security issued by it unless the commissioner has issued a permit authorizing such sale.
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Financial Code - FIN - FIN § 1202
Financial Code - FIN - FIN § 1202
The following transactions are exempt from Section 1201: (a) (1) Any offer (but not a sale) not involving a public offering by a bank organized under the laws of this state of its securities and the execution and delivery of any agreement for the sale of the securities pursuant t
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Financial Code - FIN - FIN § 1203
Financial Code - FIN - FIN § 1203
An application for a permit shall be in such form and contain such information as the commissioner may prescribe.
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Financial Code - FIN - FIN § 1204
Financial Code - FIN - FIN § 1204
The commissioner shall charge and collect fees for applications filed under this chapter as fixed in this section. (a) The fee for a negotiating permit shall be fifty dollars ($50). (b) The fee for a permit to exchange a security or to make any change in the rights, preferences,
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Financial Code - FIN - FIN § 1205
Financial Code - FIN - FIN § 1205
If the commissioner finds that the proposed sale of securities is fair, just, and equitable, he or she shall issue to the applicant a permit authorizing it to offer and sell the securities in such amount and upon such terms and conditions as he or she may provide in the permit. I
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Financial Code - FIN - FIN § 1206
Financial Code - FIN - FIN § 1206
The commissioner may impose conditions in any permit issued under Section 1205, requiring the deposit in escrow of securities, imposing a legend condition restricting the transferability thereof, impounding the proceeds from the sale thereof, limiting the expense in connection wi
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Financial Code - FIN - FIN § 1207
Financial Code - FIN - FIN § 1207
Every permit issued pursuant to Section 1205 shall recite that it is permissive only and does not constitute a recommendation or endorsement of the securities permitted to be sold.
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Financial Code - FIN - FIN § 1208
Financial Code - FIN - FIN § 1208
The commissioner may amend, alter, suspend, or revoke any permit issued pursuant to Section 1205.
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Financial Code - FIN - FIN § 1209
Financial Code - FIN - FIN § 1209
Whenever a bank applies for a permit to issue any security or to deliver any other consideration (whether or not such security or such transaction is exempt from, or not subject to, the provisions of Section 1202) in exchange for one or more bona fide outstanding securities (as d
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Financial Code - FIN - FIN § 121
Financial Code - FIN - FIN § 121
(a) “Office” includes head office, branch office, and any other authorized place of business of a licensee. (b) “Head office” means the principal place of business of a licensee.
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Financial Code - FIN - FIN § 1210
Financial Code - FIN - FIN § 1210
There shall be exempted from the provisions of Section 1201 any transaction or security, including, without limitation, any type or class of transactions or securities, which the commissioner by regulation or order exempts as not being comprehended within the purposes of this cha
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Financial Code - FIN - FIN § 12100
Financial Code - FIN - FIN § 12100
This division does not apply to any of the following: (a) Any person, or his or her authorized agent, doing business under license and authority of the Commissioner of Financial Institutions under Division 1 (commencing with Section 99) or under any law of this state or of the Un
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Financial Code - FIN - FIN § 12101.5
Financial Code - FIN - FIN § 12101.5
In any proceeding under this law, the burden of proving an exemption or an exception from a definition is upon the person claiming it.
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Financial Code - FIN - FIN § 12102
Financial Code - FIN - FIN § 12102
Any person who willfully violates any provision of this division, or who willfully violates any rule or order under this division, shall, upon conviction, be fined not more than ten thousand dollars ($10,000), or imprisoned pursuant to subdivision (h) of Section 1170 of the Penal
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Financial Code - FIN - FIN § 12102.1
Financial Code - FIN - FIN § 12102.1
A licensee under this division or any person engaged in the same type of business as licensed under this division whether said person is licensed or not shall be deemed to be an agent as defined under Sections 506 and 506a of the Penal Code and subject to the penalties under said
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Financial Code - FIN - FIN § 12103
Financial Code - FIN - FIN § 12103
Whenever in the opinion of the commissioner any person is engaged in business as a check seller as defined in this division without a license from the commissioner, or any person or licensee is violating any provision of this division, the commissioner may order the person or lic
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Financial Code - FIN - FIN § 12104
Financial Code - FIN - FIN § 12104
A nonprofit community service organization that meets all of the following criteria shall be exempt from any requirements imposed on proraters pursuant to this division: (a) The nonprofit community service organization incorporates in this state or any other state as a nonprofit
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Financial Code - FIN - FIN § 12105
Financial Code - FIN - FIN § 12105
(a) Whenever it appears to the commissioner that any person has engaged or is about to engage in any act or practice constituting a violation of any provision of this division, or any rule or order promulgated pursuant to this division, the commissioner may, at his or her discret
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Financial Code - FIN - FIN § 12106
Financial Code - FIN - FIN § 12106
(a) The commissioner may do the following, at his or her discretion: (1) Make public or private investigations within or outside of this state necessary to determine whether any person has violated, or is about to violate, any provision of this division or any rule or order promu
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Financial Code - FIN - FIN § 12107
Financial Code - FIN - FIN § 12107
(a) If, upon inspection or investigation, based upon a complaint or otherwise, the department has cause to believe that a person is engaged in business without a license, or a person or licensee is violating any provision of this division or any rule or order promulgated pursuant
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Financial Code - FIN - FIN § 12108
Financial Code - FIN - FIN § 12108
(a) The remedies available to the commissioner pursuant to this division are not exclusive and may be sought and employed in any combination deemed advisable by the commissioner to enforce the provisions of this division. (b) Any amounts collected by the commissioner in any actio