California Corporations Code

§ 28152

CORP § 28152 Effective Jan 1, 2011Div. 3 · Title 4 · Ch. 3

Statute text

If the commissioner finds all of the following with respect to an application for a license, the commissioner shall approve the application:

(a)That the applicant has a tangible net worth, exclusive of the funds to invest under subdivision (b), in an amount that is not less than two hundred fifty thousand dollars ($250,000) and that the tangible net worth is adequate for the applicant to transact business as a capital access company.

(b)That the applicant has funds to invest in an amount that is not less than five million dollars ($5,000,000).

…

Legislative history

Amended by Stats. 2010, Ch. 516, Sec. 6. (SB 1155) Effective January 1, 2011.