§ 2151. — 2151. (Added by Stats. 2011, Ch. 243, Sec. 4.)

California § 2151.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 1.2.: DIVISION 1.2. MONEY TRANSMISSION ACT
• Ch. 8.: CHAPTER 8. Additional Enforcement Provisions

Text

(a)
If the commissioner finds that any of the factors set forth in Section 2150 is true with respect to any agent and that it is necessary for the protection of the public interest, the commissioner may issue an order immediately suspending or barring that agent from continuing to be or becoming an agent of any licensee during the period for which that order is in effect.
(b)
Within 30 days after an
order is issued pursuant to subdivision (a), the licensee or the agent or former agent with respect to whom the order was issued may file with the commissioner an application for a hearing on the order.
(c)
If the commissioner fails to commence a hearing within 20 business days after the application is filed with the commissioner pursuant to subdivision (b) or within a longer period of time agreed to by the parties, the suspension or revocation shall be deemed rescinded.
(d)
Within 30 days after the hearing, the commissioner shall affirm, modify, or rescind the order.
(e)
The right of the licensee or agent or former agent to petition for judicial review of the order shall not be affected by the failure of that person to apply to the commissioner for a hearing on the order pursuant to subdivision
(b).

Legislative History

Added by Stats. 2011, Ch. 243, Sec. 4. (SB 664) Effective January 1, 2012.