§ 28110. — 28110. (Added by Stats. 1998, Ch. 668, Sec. 3.)

California § 28110.

• Jurisdiction: California
• Code CORP: Corporations Code - CORP
• Div.: 3.
• Title 4.: DIVISION 3. CAPITAL ACCESS COMPANIES
• Ch. 2.: CHAPTER 2. Administration

Text

(a)
Fees shall be paid to, and collected by, the commissioner, as follows:
(1)
The fee for filing with the commissioner an application for a license shall be no greater than two thousand dollars ($2,000).
(2)
The fee for filing with the commissioner an application for approval to acquire control of a licensee shall be no greater than one thousand dollars ($1,000).
(3)
The fee for filing with the commissioner an application for approval for a licensee to merge with another company, an application for approval for a licensee to purchase all or substantially all of the business of another person, or an application for approval for a licensee to sell all or substantially all of its business or of the business of any of its offices to another licensee, shall be no greater than one thousand dollars ($1,000). However, whenever two or more applications relating to the same merger, purchase, or sale are filed with the commissioner, the fee for filing each application shall be the quotient determined by dividing one thousand dollars ($1,000) by the number of the applications.
(4)
Whenever the commissioner examines, audits, or investigates any licensee or any affiliate of a licensee, that licensee shall pay, within 10 days after receipt of a statement from the commissioner, a fee that equals the amount of the salary or other compensation paid to the persons making the examination, audit, or investigation plus the amount of expenses, including overhead, reasonably incurred in the performance of the work. The licensee shall be given a preliminary estimate of the fee before the commissioner commences an examination, audit, or investigation. In determining the costs associated with an examination, audit, or investigation, the commissioner may use the estimated average hourly cost for all departmental persons performing examinations, audits, or investigations for the fiscal year.
(b)
(1)
Each fee for filing an application with the commissioner shall be paid at the time the application is filed with the commissioner.
(2)
No fee for filing an application with the commissioner shall be refundable, regardless of whether the application is approved, denied, withdrawn, or abandoned.
(c)
All fees charged and collected under this section shall be transmitted to the Treasurer at least weekly, accompanied by a detailed statement therefor, and shall be credited to the State Corporations Fund.

Legislative History

Added by Stats. 1998, Ch. 668, Sec. 3. Effective January 1, 1999. Operative July 1, 1999, by Sec. 4 of Ch. 668.