Fin. Code, § 2122 · Chapter 7. Examinations, Special Reports, and Records
Fin. Code, § 2122
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
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.
Notes and commentary — not statutory text
History
Added by Stats. 2011, Ch. 243, Sec. 4. (SB 664) Effective January 1, 2012.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=2122.
- Text hash
- sha256 0f731ffdb5ad71f0c8630fe80656a0968fbefaf3ed4e754a7ca2bf17a13314ee
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.