DIVISION 15. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS 31000-31952›CHAPTER 9. Merger and Purchase or Sale of Business 31600-31605

§ 31603

California Financial Code · 2020-11 edition · updated 2026-10-04 · California

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.

(Amended by Stats. 1996, Ch. 1064, Sec. 675. Effective January 1, 1997. Operative July 1, 1997.)

Get a plain-English answer with a citation back to this text.

Ask AI about this code

Export this section

▸Contents — California Financial Code

California Financial Code

GoCodebook provides public access, search, citation, multilingual explanation, and practical interpretation of legally adopted building regulations. It is not a substitute for the official ICC or California code publications.