§ 100003.3. — 100003.3. (Added by Stats. 2020, Ch. 163, Sec. 3.)

California § 100003.3.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 25.: DIVISION 25. Debt Collection Licensing Act
• Ch. 2.: CHAPTER 2. Licensing
• Art. 1.: ARTICLE 1. Commissioner on Financial Protection and Innovation

Text

(a)
The proceedings for a revocation of a license shall be conducted in accordance with Chapter 5 (commencing with Section 11500) of Part 1 of Division 3 of Title 2 of the Government Code.
(b)
The commissioner may suspend or revoke a license if, after notice and an opportunity for hearing, the commissioner finds any of the following:
(1)
The licensee violated this division or a regulation adopted or an order issued under
this division.
(2)
The licensee does not cooperate with an examination or investigation by the commissioner.
(3)
The licensee violates Title 1.6C (commencing with Section 1788) or Title 1.6C.5 (commencing with Section 1788.50) of Part 4 of Division 3 of the Civil Code. The commissioner may adopt regulations that specify the factors that the commissioner will consider in revoking or suspending a license, including, but not limited to, the harm to the consumer, the frequency of the violation, and the number of prior disciplinary actions taken against the licensee.
(4)
The licensee is insolvent, suspends payment of its obligations, or makes a general assignment for the benefit of its creditors.
(5)
A receiver, liquidator, or conservator has been appointed for a licensee.
(6)
Any fact or condition exists that, if it had existed at the time that the licensee applied for the license, would have been grounds for denying the application.

Legislative History

Added by Stats. 2020, Ch. 163, Sec. 3. (SB 908) Effective January 1, 2021. Operative January 1, 2022, pursuant to Sec. 100000.5.