California Code
TITLE 4 - SECURITIES
DIVISION 3 - CAPITAL ACCESS COMPANIES

CHAPTER 1 - General Provisions

ARTICLE 1 - Short Title and Construction

Section 28000. - 28000. This division shall be known and may be cited...

Section 28001. - 28001. This division shall be liberally construed to accomplish its...

Section 28002. - 28002. The provisions of the Corporate Securities Law of 1968...

Section 28003. - 28003. The Legislature finds all of the following: (a) It...

Section 28004. - 28004. (a) The purpose of this division is to provide...

ARTICLE 2 - Definitions

Section 28030. - 28030. Subject to additional definitions contained in this division which...

Section 28031. - 28031. “Accredited investor” means a person who is defined in...

Section 28032. - 28032. “Affiliate” means any person or persons controlling, controlled by,...

Section 28033. - 28033. “Commissioner” means the Commissioner of Financial Protection and Innovation...

Section 28034. - 28034. “Company” means a corporation, limited partnership, limited liability company,...

Section 28035. - 28035. “Control” means the possession, direct or indirect, of the...

Section 28036. - 28036. “Controlling person,” when used with respect to a specified...

Section 28037. - 28037. “Insolvent,” when used with respect to any person, means...

Section 28038. - 28038. “License” means a license issued under this division authorizing...

Section 28039. - 28039. “Licensee” means a company that is licensed under this...

Section 28040. - 28040. “Officer” means either of the following: (a) When used...

Section 28041. - 28041. “Order” means any approval, consent, authorization, exemption, denial, prohibition,...

Section 28042. - 28042. “Parent,” when used with respect to a specified person...

Section 28043. - 28043. “Person” means any natural person, proprietorship, joint venture, partnership,...

Section 28044. - 28044. “Principal security holder,” means any person who owns, directly...

Section 28045. - 28045. “To provide financing assistance to a person” means to...

Section 28046. - 28046. “Security” has the meaning set forth in Section 25019....

Section 28047. - 28047. “Small business firm” means a person that proposes to...

Section 28047.1. - 28047.1. “Smaller business firm” means a person that proposes to...

Section 28048. - 28048. “Subsidiary,” when used with respect to a specified person...

Section 28049. - 28049. “Voting power” has the meaning set forth in Section...

CHAPTER 2 - Administration

Section 28100. - 28100. The commissioner shall administer and enforce the provisions of...

Section 28101. - 28101. Whenever the commissioner issues an order or license under...

Section 28102. - 28102. Any application filed with the commissioner under this division...

Section 28103. - 28103. In determining whether to approve any application filed under...

Section 28104. - 28104. (a) The commissioner may do both of the following:...

Section 28105. - 28105. The commissioner may provide information relating to a licensee...

Section 28106. - 28106. If the commissioner permits any licensee, any affiliate of...

Section 28107. - 28107. The commissioner may refer any evidence available concerning any...

Section 28108. - 28108. Before any applicant for a license is issued a...

Section 28109. - 28109. Whenever any person, including any nonresident of this state,...

Section 28110. - 28110. (a) Fees shall be paid to, and collected by,...

Section 28111. - 28111. (a) If a licensee becomes licensed as a small...

CHAPTER 3 - Licensing

Section 28150. - 28150. (a) Except as provided in subdivision (b), no person...

Section 28151. - 28151. No person other than a person who meets the...

Section 28152. - 28152. If the commissioner finds all of the following with...

Section 28153. - 28153. (a) For purposes of Section 28152, the commissioner may...

Section 28154. - 28154. Except pursuant to Section 28551, no license shall be...

Section 28155. - 28155. No licensee shall represent that it is sponsored, recommended,...

CHAPTER 4 - Organizational Matters

ARTICLE 1 - Organization and Name

Section 28200. - 28200. The organizational documents of the licensee shall include the...

Section 28201. - 28201. No licensee shall, except by prior written notice to...

ARTICLE 2 - Directors

Section 28210. - 28210. Each licensee shall have a board of directors, executive...

Section 28211. - 28211. The board of directors, executive committee, or other policy...

Section 28212. - 28212. The board of directors, executive committee, or other policy...

CHAPTER 5 - Offices

ARTICLE 1 - Establishing, Relocating, and Closing Offices

Section 28320. - 28320. (a) No licensee shall relocate its head office without...

CHAPTER 6 - Transaction of Business

Section 28400. - 28400. No licensee shall engage in any business other than...

Section 28404. - 28404. No licensee shall provide financing assistance to any small...

Section 28405. - 28405. This section creates and authorizes an exempt class of...

CHAPTER 7 - Records, Reports, and Examinations

Section 28500. - 28500. Each licensee shall make and keep books, accounts, and...

Section 28501. - 28501. Each licensee shall, not more than 90 days after...

Section 28502. - 28502. Each licensee, director, officer, and employee of a licensee,...

Section 28503. - 28503. (a) The commissioner shall examine each licensee not less...

Section 28504. - 28504. (a) A licensee may, after the approval of the...

Section 28505. - 28505. Subject to the provisions of Rules 250.10 and 250.10.5...

CHAPTER 8 - Acquisition of Control

Section 28550. - 28550. No person shall, except with the prior written approval...

Section 28551. - 28551. The commissioner shall approve an application for approval to...

Section 28552. - 28552. (a) For purposes of Section 28551, the commissioner may...

CHAPTER 9 - Merger and Purchase or Sale of Business

Section 28600. - 28600. For purposes of this chapter: (a) “Acquiring licensee” means...

Section 28601. - 28601. No licensee shall merge with any other company unless...

Section 28602. - 28602. No licensee shall purchase all or substantially all of...

Section 28603. - 28603. No licensee shall sell all or substantially all of...

Section 28604. - 28604. The commissioner shall approve an application for approval of...

CHAPTER 10 - Voluntary Surrender of License

Section 28650. - 28650. Any licensee may offer to surrender its license by...

Section 28651. - 28651. (a) Except as otherwise provided in subdivision (b), a...

CHAPTER 11 - Enforcement

Section 28700. - 28700. For purposes of this chapter, unless the context otherwise...

Section 28701. - 28701. Whenever it appears to the commissioner that any person...

Section 28702. - 28702. (a) If the commissioner finds that any person has...

Section 28703. - 28703. The commissioner may issue a cease and desist order,...

Section 28704. - 28704. (a) The commissioner may issue a cease and desist...

Section 28705. - 28705. The commissioner may issue an order removing a subject...

Section 28706. - 28706. The commissioner may issue an order removing a subject...

Section 28707. - 28707. (a) The commissioner may issue an order suspending a...

Section 28708. - 28708. (a) The commissioner may issue an order suspending a...

Section 28709. - 28709. Any person to whom an order is issued under...

Section 28710. - 28710. The commissioner may issue an order suspending or revoking...

Section 28711. - 28711. (a) If the commissioner finds that any of the...

Section 28712. - 28712. Any person whose license is suspended or revoked shall...

Section 28713. - 28713. Any person to whom an order is issued under...

Section 28714. - 28714. (a) If the commissioner finds that any of the...

Section 28715. - 28715. Sections 11041, 11042, and 11043 of the Government Code...

Section 28716. - 28716. (a) It is unlawful for any person to knowingly...

CHAPTER 12 - Crimes and Criminal Penalties

ARTICLE 1 - General Provisions

Section 28800. - 28800. It shall be unlawful for any person willfully to...

Section 28801. - 28801. It shall be unlawful for any person having custody...

Section 28802. - 28802. It shall be unlawful for any person, with intent...

ARTICLE 2 - Conflicts of Interest

Section 28820. - 28820. In this article, unless the context otherwise requires: (a)...

Section 28821. - 28821. (a) A licensee shall not provide financial or managerial...

ARTICLE 3 - Criminal Penalties

Section 28880. - 28880. Any person who willfully violates any provision under this...

Section 28881. - 28881. Nothing in this division limits the power of the...

CHAPTER 13 - Civil Penalties

Section 28900. - 28900. If, after notice and a hearing, the commissioner finds...

Section 28901. - 28901. The provisions of Section 28900 are additional to, and...

CHAPTER 14 - Miscellaneous Provisions

Section 28950. - 28950. No provision of this division imposing any liability applies...

Section 28951. - 28951. (a) The commissioner may from time to time make,...

Section 28952. - 28952. The commissioner may honor requests from interested persons for...

Section 28953. - 28953. In any proceeding under this law, the burden of...

Section 28954. - 28954. Every final order, decision, license, or other official act...

Section 28955. - 28955. Nothing in this law, shall impair, derogate, or otherwise...

Section 28956. - 28956. If any provision of this division , or the...

Section 28957. - 28957. Neither the commissioner nor any employee of the commissioner...

Section 28958. - 28958. (a) The program established by this division shall be...