California Financial Code

§ 12200.5

FIN § 12200.5Div. 3 · Ch. 3

Statute text

The commissioner shall classify and license applicants for a proraters license in accordance with the nature of their existing or proposed business and the extent of regulation required thereby in the public interest as follows:

(a)A special proraters license shall be issued to a qualified applicant to engage in business as a business agent.

(b)A general proraters license shall be issued to all other qualified applicants. Whenever the term “prorater” is used in this division with reference to a licensee it shall be deemed to mean a general prorater unless otherwise provided.

Legislative history

Added by Stats. 1957, Ch. 498.