§ 28711. — 28711. (Amended by Stats. 2007, Ch. 101, Sec. 7.)

California § 28711.

• Jurisdiction: California
• Code CORP: Corporations Code - CORP
• Div.: 3.
• Title 4.: DIVISION 3. CAPITAL ACCESS COMPANIES
• Ch. 11.: CHAPTER 11. Enforcement

Text

(a)
If the commissioner finds that any of the factors set forth in Section 28710 is true with respect to any licensee and that it is necessary for the protection of the public interest that the commissioner immediately suspend or revoke the license of the licensee, the commissioner may issue an order suspending or revoking the license of the licensee.
(b)
Within 30 days after an order is issued pursuant to subdivision (a), any licensee to whom the order is directed may file with the commissioner a request for a hearing on the order. If the commissioner fails to commence a hearing within 15 business days after the request is filed (or within any longer period to which the licensee consents), the order shall be deemed rescinded. Upon the completion of the hearing, the commissioner shall affirm, modify, or rescind the order.

Legislative History

Amended by Stats. 2007, Ch. 101, Sec. 7. Effective January 1, 2008.