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Financial Code - FIN - FIN § 30207
Financial Code - FIN - FIN § 30207
No licensee, or any other person, shall solicit deposits of securities or otherwise conduct the business of a licensee, by means of any statement or representation which is false, misleading, or deceptive, or which omits to state material information, or which infers that such li
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Financial Code - FIN - FIN § 30208
Financial Code - FIN - FIN § 30208
A securities depository license is not transferable or assignable. Further, no license may be acquired, either in whole or in part, through stock purchase or other devices without the consent of the commissioner.
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Financial Code - FIN - FIN § 30209
Financial Code - FIN - FIN § 30209
Any person who operates a securities depository, or solicits holders of securities within this state to place securities in a securities depository, either directly as principal or indirectly as agent, employee, manager, fiduciary representative, or in any other capacity, unless
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Financial Code - FIN - FIN § 30210
Financial Code - FIN - FIN § 30210
Every person subject to this division shall keep and use in its business, books, accounts, and records which will properly enable the commissioner to determine whether the operation of a securities depository by such person complies with the provisions of this division and with a
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Financial Code - FIN - FIN § 30211
Financial Code - FIN - FIN § 30211
The business, accounts and records of every person licensed under this division are subject to inspection and examination by the commissioner at any time without prior notice.
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Financial Code - FIN - FIN § 30212
Financial Code - FIN - FIN § 30212
The actual cost of every inspection and examination shall be paid to the commissioner by the person examined and the commissioner may maintain an action for the recovery of such costs in any court of competent jurisdiction.
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Financial Code - FIN - FIN § 30213
Financial Code - FIN - FIN § 30213
(a) Every person subject to this division shall submit to the commissioner, at such person’s own expense, financial statements prepared in accordance with generally accepted accounting principles covering the calendar year or, if such person has an established fiscal year, then f
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Financial Code - FIN - FIN § 30214
Financial Code - FIN - FIN § 30214
If any person subject to this division fails to make any report required by law or by the commissioner, the commissioner shall immediately cause the books, records, papers, and affairs of said person to be thoroughly examined. The commissioner may, in carrying out his responsibil
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Financial Code - FIN - FIN § 30215
Financial Code - FIN - FIN § 30215
If the commissioner, as a result of any examination or from any report made to him, shall find that any person subject to this division is in an insolvent condition, or is operating a securities depository in such an unsafe or injurious manner as to render further operations haza
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Financial Code - FIN - FIN § 30216
Financial Code - FIN - FIN § 30216
Whenever in the opinion of the commissioner any person required by this division to be licensed is engaged in operating a securities depository or in soliciting securities holders within this state to place securities in a securities depository, without a license from the commiss
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Financial Code - FIN - FIN § 30217
Financial Code - FIN - FIN § 30217
The commissioner may from time to time make, amend, and rescind such rules, forms, and orders as are necessary to carry out the provisions of this law, including rules defining any terms, whether or not used in this law, insofar as the definitions are not inconsistent with the pr
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Financial Code - FIN - FIN § 30218
Financial Code - FIN - FIN § 30218
(a) It is unlawful for any person to knowingly alter, destroy, mutilate, conceal, cover up, falsify, or make a false entry in any record, document, or tangible object with the intent to impede, obstruct, or influence the administration or enforcement of this division. (b) It is u
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Financial Code - FIN - FIN § 30600
Financial Code - FIN - FIN § 30600
A security depository license remains in effect until surrendered, revoked or suspended.
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Financial Code - FIN - FIN § 30601
Financial Code - FIN - FIN § 30601
If the commissioner has reason to believe that a licensed securities depository has violated its articles of incorporation, or any law or rule binding upon it, he shall, by written order addressed to the agent direct the discontinuance of such violation.
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Financial Code - FIN - FIN § 30602
Financial Code - FIN - FIN § 30602
If any licensed securities depository fails to make any report required by law or by the commissioner within 10 days from the day designated for the making of the report, or within any extension of time granted by the commissioner, or has failed to pay any fee or charge payable u
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Financial Code - FIN - FIN § 30603
Financial Code - FIN - FIN § 30603
If it appears to the commissioner that any licensed securities depository located within this state is conducting business in an unsafe or injurious manner, he shall, by written order addressed to the securities depository direct the discontinuance of such unsafe or injurious pra
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Financial Code - FIN - FIN § 30604
Financial Code - FIN - FIN § 30604
An order issued pursuant to Section 30601 or 30603 shall require the licensed securities depository to show cause before the commissioner, at a time fixed by the commissioner, why the order should not be observed. If upon the hearing, it appears to the commissioner that the licen
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Financial Code - FIN - FIN § 30605
Financial Code - FIN - FIN § 30605
The licensed securities depository has 10 days after an order is made final in which to commence action to restrain enforcement of such order, and unless such action is commenced, and the enforcement of such order is enjoined within 10 days by the court in which the suit is broug
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Financial Code - FIN - FIN § 30606
Financial Code - FIN - FIN § 30606
(a) If a securities depository fails to comply with a final order and has not secured a court order restraining the enforcement of the final order, the commissioner may revoke the license of the securities depository or may institute proceedings under subdivision (b) to enforce t
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Financial Code - FIN - FIN § 30607
Financial Code - FIN - FIN § 30607
The commissioner may commence and prosecute actions and proceedings to enjoin violations of this division or violations of orders or decisions of the commissioner rendered pursuant to this division, and for the enforcement of any and all civil penalties provided for by this divis
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Financial Code - FIN - FIN § 30608
Financial Code - FIN - FIN § 30608
The commissioner may, after notice and a reasonable opportunity to be heard, suspend, revoke, or decline to renew any license if he finds that: (a) The licensee has violated any provision of this division or any rule or order made by the commissioner under and within the authorit
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Financial Code - FIN - FIN § 30609
Financial Code - FIN - FIN § 30609
(a) The commissioner may, after appropriate notice and opportunity for hearing, by order, censure or suspend for a period not exceeding 12 months, or bar from any position of employment, management, or control any person who operates a securities depository, or any other person,
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Financial Code - FIN - FIN § 30700
Financial Code - FIN - FIN § 30700
The commissioner, and all persons designated by him, may administer oaths, take the testimony of witnesses, and issue subpoenas requiring the attendance of witnesses and the production of books, documents, and other things under their control, at any examination, investigation, o
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Financial Code - FIN - FIN § 30701
Financial Code - FIN - FIN § 30701
All of the provisions of Chapter 2 (commencing with Section 1985), Title 3, Part 4 of the Code of Civil Procedure relating to the means of production of evidence out of court are applicable to any examination, investigation, or hearing under this division.
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Financial Code - FIN - FIN § 30702
Financial Code - FIN - FIN § 30702
The authority to make or conduct any examination, investigation, or hearing, including the authority to administer oaths and to subpoena witnesses, and to take their testimony may be delegated by the commissioner to any deputy, investigator, or auditor appointed by him for that p