California Financial Code

§ 3211

FIN § 3211 Effective Jan 1, 2024Div. 1.25 · Ch. 2

Statute text

(a)Subject to subdivision (h), between October 1 and November 1 of each year, a licensee shall submit to the department an annual report under subdivision (b).

(b)The annual report required by subdivision (a) shall be submitted in a form and medium prescribed by the department. The report shall contain all of the following:

(1)Either a copy of the licensee’s most recent reviewed annual financial statement, if the gross revenue generated by the licensee’s digital financial asset business activity in this state was not more than two million dollars ($2,000,000) for the fiscal year ending before the anniversary date of issuance of its license under this division, or a copy of the licensee’s most recent audited annual financial statement, if the licensee’s digital financial asset business activity in this state amounted to more than two million dollars ($2,000,000), for the fiscal year ending before the anniversary date.

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Legislative history

Added by Stats. 2023, Ch. 792, Sec. 1. (AB 39) Effective January 1, 2024.