California Business and Professions Code

§ 24076

BPC § 24076Div. 9 · Ch. 6 · Art. 5

Statute text

No licensee shall enter into any agreement wherein he pledges the transfer of his license as security for a loan or as security for the fulfillment of any agreement. No license shall be transferred if the transfer is to satisfy a loan or to fulfill an agreement entered into more than 90 days preceding the date on which the transfer application is filed, or to gain or establish a preference to or for any creditor of the transferor, except as provided by Section 24074, or to defraud or injure any creditor of the transferor.

Legislative history

Amended by Stats. 1967, Ch. 753.