{"code":"FIN","codeName":"Financial Code","section":"31603","citation":"Fin. Code, § 31603","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 9. Merger and Purchase or Sale of Business [31600. - 31605.]","url":"https://blackletter.si/financial-code/division-15/chapter-9"}],"history":"Amended by Stats. 1996, Ch. 1064, Sec. 675.   Effective January 1, 1997.   Operative July 1, 1997.","effective":"1997-01-01","html":"<p>No licensee shall sell all or substantially all of its business to any other person unless such other person is a licensee and such sale shall have first been approved by the commissioner.</p>","text":"No licensee shall sell all or substantially all of its business to any other person unless such other person is a licensee and such sale shall have first been approved by the commissioner.","otherVersions":[],"url":"https://blackletter.si/financial-code/merger-and-purchase-or-sale-of-business-31603","source":"California Legislative Information bulk export (pubinfo)"}