California Statutes

§ 50501.5. — 50501.5. (Added by Stats. 2013, Ch. 243, Sec. 5.)

California·Code FIN Financial Code - FIN·Div. 20. DIVISION 20. CALIFORNIA RESIDENTIAL MORTGAGE LENDING ACT·Ch. 7. CHAPTER 7. Prohibited Practices and Penalties
(a)If, upon inspection, examination, or investigation, the commissioner has cause to believe that a licensee or person is violating or has violated any provision of this division or any rule or order thereunder, the commissioner or his or her designee may issue a citation to that licensee or person in writing, describing with particularity the basis of the citation. Each citation may contain an order to correct the violation or violations identified and provide a reasonable time period or periods by which the violation or violations must be corrected. In addition, each citation may assess an administrative fine not to exceed two thousand five hundred dollars ($2,500) that shall be deposited in the State Corporations Fund. In assessing a fine, the commissioner shall give due consider

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California § 50501.5. (50501.5. (Added by Stats. 2013, Ch. 243, Sec. 5.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Added by Stats. 2013, Ch. 243, Sec. 5. (AB 1091) Effective January 1, 2014.

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