§ 23045. — 23045. (Added by Stats. 2002, Ch. 777, Sec. 10.)

California § 23045.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 10.: [DIVISION 10. CONSUMER FINANCE LENDERS]
• Ch. 3.: CHAPTER 3. Enforcement
• Art. 1.: ARTICLE 1. Administrative Actions

Text

(a)
Licenses issued under this division remain in effect until they are surrendered, revoked, or suspended.
(b)
The surrender of a license becomes effective 30 days after receipt of an application to surrender the license or within a shorter period of time that the commissioner may determine, unless a revocation or suspension proceeding is pending when the application is filed or a proceeding to revoke or suspend or to impose conditions upon the
surrender is instituted within 30 days after the application is filed. If a proceeding is pending or instituted, the surrender of a license becomes effective at the time and upon the conditions that the commissioner determines.
(c)
The power of investigation and examination by the commissioner is not terminated by the surrender, suspension, or revocation of any license issued by the commissioner.
(d)
Whenever the commissioner deems it necessary for the general welfare of the public, the commissioner shall have continuous authority to exercise the powers set forth in this division whether or not an application for a license has been filed with the commissioner, any license has been issued, or if issued, has been surrendered, suspended, or revoked.
(e)
The commissioner may, upon three days’ notice and a hearing,
suspend any license for a period not exceeding 30 days, pending investigation, where the commissioner believes that a person subject to this division is conducting business in an unsafe or injurious manner.
(f)
Any licensee may surrender any license by delivering to the commissioner written notice that the licensee surrenders that license pursuant to subdivision (b). The surrender of the license does not affect the licensee’s civil or criminal liability for acts committed prior to the surrender of the license.

Legislative History

Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.