{"code":"FIN","codeName":"Financial Code","section":"31502","citation":"Fin. Code, § 31502","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 15. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS [31000. - 31952.]","url":"https://blackletter.si/financial-code/division-15"},{"name":"CHAPTER 7. Records, Reports, and Examinations [31500. - 31509.]","url":"https://blackletter.si/financial-code/division-15/chapter-7"}],"history":"Amended by Stats. 1996, Ch. 1064, Sec. 662.   Effective January 1, 1997.   Operative July 1, 1997.","effective":"1997-01-01","html":"<p>No licensee shall, except with the prior approval of the commissioner, enter or carry on its books or records any asset at a valuation exceeding the actual cost of such asset to such licensee.</p>","text":"No licensee shall, except with the prior approval of the commissioner, enter or carry on its books or records any asset at a valuation exceeding the actual cost of such asset to such licensee.","otherVersions":[],"url":"https://blackletter.si/financial-code/records-reports-and-examinations-31502","source":"California Legislative Information bulk export (pubinfo)"}