California Financial Code

§ 22379

FIN § 22379 Effective Jan 1, 2019Div. 9 · Ch. 2 · Art. 3.6

Statute text

(a)Notwithstanding any other law, the commissioner shall examine each licensee that is accepted into the program, and each finder whose services were used by the licensee, at least once every 24 months.

(b)Notwithstanding subdivision (a), the commissioner shall have the authority to waive one or more branch office examinations, if the commissioner deems that the branch office examinations are not necessary for the protection of the public, due to the centralized operations of the licensee or other factors acceptable to the commissioner.

(c)The cost of each examination of a licensee shall be paid to the commissioner by the licensee examined, and the commissioner may maintain an action for the recovery of the cost in any court of competent jurisdiction. In determining the cost of the examination, the commissioner may use the estimated average hourly cost for all persons performing examinations of licensees or other persons subject to this division for the fiscal year.

Legislative history

Amended by Stats. 2018, Ch. 1016, Sec. 4. (AB 237) Effective January 1, 2019. Repealed as of January 1, 2028, pursuant to Section 22381.