§ 3217. — 3217. (Added by Stats. 2023, Ch. 792, Sec. 1.)

California § 3217.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 1.25.: DIVISION 1.25. Digital Financial Assets Businesses
• Ch. 2.: CHAPTER 2. Licensure

Text

(a)
The commissioner may establish relationships or contracts with the Nationwide Multistate Licensing System and Registry or other entities designated by the Nationwide Multistate Licensing System and Registry to collect and maintain records and process transaction fees or other fees related to licensees or other persons subject to this division.
(b)
For the purpose of participating in the Nationwide Multistate Licensing System and Registry, the commissioner may waive or modify, in whole or in part, by rule, regulation, or order, any or all of the requirements of this division and establish new requirements as reasonably necessary to participate in the Nationwide
Multistate Licensing System and Registry.
(c)
Notwithstanding any other provision of law, the commissioner may use the Nationwide Multistate Licensing System and Registry as a channeling agent between the United States Department of Justice and the commissioner for requesting information from, and distributing information to, the Department of Justice and the United States Department of Justice, including the Federal Bureau of Investigation pursuant to Section 5110 of the SAFE Act, any other governmental agency, or any other source, as directed by the commissioner.
(d)
The commissioner shall establish a process through which applicants and licensees may challenge information entered into the Nationwide Multistate Licensing System and Registry by the commissioner.

Legislative History

Added by Stats. 2023, Ch. 792, Sec. 1. (AB 39) Effective January 1, 2024.