§ 16900.5. — 16900.5. (Added by Stats. 2000, Ch. 612, Sec. 4.)

California § 16900.5.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 5.: DIVISION 5. CREDIT UNIONS
• Ch. 12.: CHAPTER 12. Foreign (Other Nation) Credit Unions
• Art. 9.: ARTICLE 9. Enforcement

Text

(a)
If the commissioner finds that any person has violated, or that there is reasonable cause to believe that any person is about to violate, Section 16020, the commissioner may order the person to cease and desist from the violation unless and until the person is issued a license.
(b)
(1)
Within 30 days after an order is issued pursuant to subdivision (a), the person to whom the order is directed may file with the commissioner an application for a
hearing on the order. If the commissioner fails to commence a hearing within 15 business days after the application is filed with him or her (or within such longer period to which the person consents), the order shall be deemed rescinded. At the hearing the commissioner shall affirm, modify, or rescind the order.
(2)
The right of any person, to whom an order is issued under subdivision (a), to petition for judicial review of the order shall not be affected by the failure of the person to apply to the commissioner for a hearing on the order pursuant to paragraph (1).

Legislative History

Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.