California Financial Code

§ 22102

FIN § 22102 Effective Oct 4, 2017Div. 9 · Ch. 1 · Art. 3

Statute text

(a)A finance lender, broker, or program administrator licensee seeking to engage in business at a new location shall submit an application for a branch office license to the commissioner at least 10 days before engaging in business at a new location and pay the fee required by Section 22103. The commissioner may require an applicant seeking to engage in business at a new location to submit its application, or parts thereof, through the Nationwide Mortgage Licensing System and Registry.

(b)The licensee may engage in business at the new location 10 days after the date of submission of a branch office application.

(c)(1) The commissioner shall approve or deny the person responsible for the lending activity at the new location in accordance with Section 22109, and shall notify the licensee of this decision within 90 days of the date of receipt of the application.

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Legislative history

Repealed (in Sec. 25) and added by Stats. 2017, Ch. 475, Sec. 26. (AB 1284) Effective October 4, 2017. Section operative January 1, 2019, by its own provisions.