California Corporations Code

§ 28503

CORP § 28503 Effective Jan 1, 1999Div. 3 · Title 4 · Ch. 7

Statute text

(a)The commissioner shall examine each licensee not less frequently than once each calendar year.

(b)(1) The commissioner may at any time examine any licensee or any parent or subsidiary of a licensee.

(2)The commissioner may at any time examine any affiliate of a licensee (other than a parent or subsidiary of the licensee), but only with respect to matters relating to transactions between the affiliate and the licensee.

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Legislative history

Added by Stats. 1998, Ch. 668, Sec. 3. Effective January 1, 1999. Operative July 1, 1999, by Sec. 4 of Ch. 668.