California Financial Code

§ 18303

FIN § 18303Div. 7 · Ch. 3 · Art. 6.5

Statute text

The commissioner shall approve the request made pursuant to Section 18302 within 30 days after filing unless the commissioner has ascertained that the company has failed to show either of the following:

(a)That the proposed plan of business has a reasonable promise of a successful operation.

(b)That the company has a person with the necessary business qualifications, experience, or ability to direct and manage the operations of the plan of business.

Legislative history

Added by Stats. 1989, Ch. 889, Sec. 6.