Cal. FIN § 30206
This is the official text of Cal. FIN § 30206, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Official statutory text
The commissioner may refuse to issue any license being applied for, and shall refuse to issue any license being applied for if upon his examination and investigation, and after appropriate hearing, he finds any of the following:
(a) That the incorporators, directors, officers, or stockholders lack the character, experience, or general fitness to engage in such a business.
(b) That the proposed licensee’s program of safeguards with respect to custody, handling, recordkeeping, insurance, and auditing of securities on deposit is inadequate for the protection of investors.
(c) That the requirements with respect to ownership of capital stock of Section 30201 are not met.
(d) That the applicant is, or is in danger of becoming, insolvent.
(a) That the incorporators, directors, officers, or stockholders lack the character, experience, or general fitness to engage in such a business.
(b) That the proposed licensee’s program of safeguards with respect to custody, handling, recordkeeping, insurance, and auditing of securities on deposit is inadequate for the protection of investors.
(c) That the requirements with respect to ownership of capital stock of Section 30201 are not met.
(d) That the applicant is, or is in danger of becoming, insolvent.
Status: in_force · Read it on the official government site
Need a lawyer in California?
Find a California lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.