California Financial Code

§ 2122

FIN § 2122 Effective Jan 1, 2012Div. 1.2 · Ch. 7

Statute text

A licensee shall file a report with the commissioner within five business days after the licensee has reason to know of the occurrence any of the following events:

(a)The filing of a petition by or against the licensee under the United States Bankruptcy Code (11 U.S.C. Secs. 101-110, incl.) for bankruptcy or reorganization.

(b)The filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors.

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Legislative history

Added by Stats. 2011, Ch. 243, Sec. 4. (SB 664) Effective January 1, 2012.