{"code":"FIN","codeName":"Financial Code","section":"2122","citation":"Fin. Code, § 2122","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 1.2. MONEY TRANSMISSION ACT [2000. - 2176.]","url":"https://blackletter.si/financial-code/division-1.2"},{"name":"CHAPTER 7. Examinations, Special Reports, and Records [2120. - 2127.]","url":"https://blackletter.si/financial-code/division-1.2/chapter-7"}],"history":"Added by Stats. 2011, Ch. 243, Sec. 4.   (SB 664)   Effective January 1, 2012.","effective":"2012-01-01","html":"<p>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:</p><p>(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.</p><p>(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.</p><p>(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.</p><p>(d) The cancellation or other impairment of the licensee’s bond or other security.</p><p>(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.</p><p>(f) A charge or conviction of an agent for a felony.</p>","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.","otherVersions":[],"url":"https://blackletter.si/financial-code/examinations-special-reports-and-records-2122","source":"California Legislative Information bulk export (pubinfo)"}