California Corporations Code

§ 25252

CORP § 25252 Effective Jan 1, 2014Div. 1 · Title 4 · Part 3 · Ch. 4

Statute text

The commissioner may, after appropriate notice and opportunity for hearing, by orders, levy administrative penalties as follows:

(a)Any person subject to this division, other than a broker-dealer or investment adviser, who willfully violates any provision of this division, or who willfully violates any rule or order adopted or issued pursuant to this division, is liable for administrative penalties of not more than one thousand dollars ($1,000) for the first violation, and not more than two thousand five hundred dollars ($2,500) for each subsequent violation.

(b)Any broker-dealer or investment adviser that willfully violates any provision of this division to which it is subject, or that willfully violates any rule or order adopted or issued pursuant to this division and to which it is subject, is liable for administrative penalties of not more than five thousand dollars ($5,000) for the first violation, not more than ten thousand dollars ($10,000) for the second violation, and not more than fifteen thousand dollars ($15,000) for each subsequent violation.

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Legislative history

Amended by Stats. 2013, Ch. 335, Sec. 4. (SB 538) Effective January 1, 2014.