California Corporations Code

§ 28705

CORP § 28705 Effective Jan 1, 1999Div. 3 · Title 4 · Ch. 11

Statute text

The commissioner may issue an order removing a subject person from that person’s office with the licensee, if any, and prohibiting that person from further participating in any manner in the conduct of the business of the licensee, if, after notice and a hearing, the commissioner finds all of the following:

(a)(1) That the subject person of a licensee has violated a provision of this division or of any regulation or order issued under this division or any provision of any other applicable law;

(2)That the subject person of a licensee has engaged or participated in any unsafe or unsound act with respect to the business of the licensee; or

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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.