Cal. FIN § 2122
This is the official text of Cal. FIN § 2122, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
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Official statutory text
A licensee shall file a report with the commissioner within five business days after the licensee has reason to know of the occurrence any of the following events:
(a) The filing of a petition by or against the licensee under the United States Bankruptcy Code (11 U.S.C. Secs. 101-110, incl.) for bankruptcy or reorganization.
(b) The filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors.
(c) The commencement of a proceeding to revoke or suspend its license in a state or country in which the licensee engages in business or is licensed.
(d) The cancellation or other impairment of the licensee’s bond or other security.
(e) A charge or conviction of the licensee or of an executive officer, manager, director, or person in control of the licensee for a felony.
(f) A charge or conviction of an agent for a felony.
(a) The filing of a petition by or against the licensee under the United States Bankruptcy Code (11 U.S.C. Secs. 101-110, incl.) for bankruptcy or reorganization.
(b) The filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors.
(c) The commencement of a proceeding to revoke or suspend its license in a state or country in which the licensee engages in business or is licensed.
(d) The cancellation or other impairment of the licensee’s bond or other security.
(e) A charge or conviction of the licensee or of an executive officer, manager, director, or person in control of the licensee for a felony.
(f) A charge or conviction of an agent for a felony.
Status: in_force · Read it on the official government site
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