{"code":"FIN","codeName":"Financial Code","section":"23007","citation":"Fin. Code, § 23007","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 10. CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW [23000. - 23106.]","url":"https://blackletter.si/financial-code/division-10"},{"name":"CHAPTER 1. General Provisions [23000. - 23027.]","url":"https://blackletter.si/financial-code/division-10/chapter-1"},{"name":"ARTICLE 2. Licensing and Exemptions [23005. - 23014.]","url":"https://blackletter.si/financial-code/division-10/chapter-1/article-2"}],"history":"Added by Stats. 2002, Ch. 777, Sec. 10.   Effective January 1, 2003.   Section operative on December 31, 2004, or sooner, pursuant to Section 23104.","effective":"2003-01-01","html":"<p>The applicant shall file with the application financial statements prepared in accordance with generally accepted accounting principles and acceptable to the commissioner that indicate a net worth of at least twenty-five thousand dollars ($25,000). A licensee, regardless of the number of licensed locations, shall maintain a net worth of at least twenty-five thousand dollars ($25,000) at all times.</p>","text":"The applicant shall file with the application financial statements prepared in accordance with generally accepted accounting principles and acceptable to the commissioner that indicate a net worth of at least twenty-five thousand dollars ($25,000). A licensee, regardless of the number of licensed locations, shall maintain a net worth of at least twenty-five thousand dollars ($25,000) at all times.","otherVersions":[],"url":"https://blackletter.si/financial-code/licensing-and-exemptions-23007","source":"California Legislative Information bulk export (pubinfo)"}