Cal. FIN § 30216
This is the official text of Cal. FIN § 30216, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
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Official statutory text
Whenever in the opinion of the commissioner any person required by this division to be licensed is engaged in operating a securities depository or in soliciting securities holders within this state to place securities in a securities depository, without a license from the commissioner, the commissioner may order said person to desist and to refrain from engaging in such business. If, after such an order is made, a request for a hearing is filed in writing and the hearing is not held within 60 days thereafter, the order is rescinded.
Status: in_force · Read it on the official government site
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