reglab/housing_qa huggingface dataset:
CA Fin Code § 31604 (2021)
2021 California Code|Financial Code - FIN|DIVISION 15 - BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS|CHAPTER 9 - Merger and Purchase or Sale of Business|Section 31604.

31604.  If the commissioner finds, with respect to an application for approval of a merger, purchase, or sale:(a) That the merger, purchase, or sale will be safe and sound with respect to the acquiring licensee;(b) That it is reasonable to believe that, upon consummation of the merger, purchase, or sale, the acquiring licensee will comply with all applicable provisions of this division and of any regulation or order issued under this division; and(c) That the merger, purchase, or sale will not be detrimental to the public convenience and advantage, or, if the merger, purchase, or sale would be detrimental to the public convenience and advantage, that it is necessary in the interests of the safety and soundness of any of the parties to it;The commissioner shall approve the application. If, after notice and a hearing, the commissioner finds otherwise, he or she shall deny the application.(Amended by Stats. 1996, Ch. 1064, Sec. 676. Effective January 1, 1997. Operative July 1, 1997.)
CA Fin Code § 31605 (2021)
2021 California Code|Financial Code - FIN|DIVISION 15 - BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS|CHAPTER 9 - Merger and Purchase or Sale of Business|Section 31605.

31605.  The commissioner may, by such regulations or orders as he or she deems necessary and appropriate, either unconditionally or upon specified terms and conditions or for specified periods, exempt from the provisions of this chapter any person or transaction or class of persons or transactions, if he or she finds such action to be in the public interest and that the regulation of such persons or transactions is not necessary for the purposes of this division.(Amended by Stats. 1996, Ch. 1064, Sec. 677. Effective January 1, 1997. Operative July 1, 1997.)
CA Fin Code § 31650 (2021)
2021 California Code|Financial Code - FIN|DIVISION 15 - BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS|CHAPTER 10 - Voluntary Surrender of License|Section 31650.

31650.  Any licensee may surrender its license by filing with the commissioner such license and a report which shall be in such form, shall contain such information, shall be signed in such manner, and shall (if the commissioner so requires by regulation or order) be verified in such manner, as the commissioner may by regulation or order require.(Amended by Stats. 1996, Ch. 1064, Sec. 678. Effective January 1, 1997. Operative July 1, 1997.)
CA Fin Code § 31651 (2021)
2021 California Code|Financial Code - FIN|DIVISION 15 - BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS|CHAPTER 10 - Voluntary Surrender of License|Section 31651.

31651.  (a) Except as otherwise provided in subdivision (b), a voluntary surrender of a license shall be effective on the 30th day after such license and the report called for in Section 31650 are filed with the commissioner or on such earlier date as the commissioner may by order specify.(b) If a proceeding to revoke or suspend a license is pending at the time when such license and the report called for in Section 31650 are filed with the commissioner or if a proceeding to revoke or suspend a license or to impose conditions upon the surrender of a license is instituted before the 30th day after such license and the report called for in Section 31650 are filed with the commissioner, the voluntary surrender of such license shall become effective at such time and upon such conditions as the commissioner may by order specify.(Amended by Stats. 1996, Ch. 1064, Sec. 679. Effective January 1, 1997. Operative July 1, 1997.)
CA Fin Code § 31900 (2021)
2021 California Code|Financial Code - FIN|DIVISION 15 - BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS|CHAPTER 13 - Civil Penalties|Section 31900.

31900.  If, after notice and a hearing, the commissioner finds that any person has violated any provision of this division or of any regulation or order issued under this division, the commissioner may order such person to pay to the commissioner a civil penalty in such amount as the commissioner may specify; provided, however, that the amount of such civil penalty shall not exceed one thousand dollars ($1,000) for each violation, or in the case of a continuing violation, one thousand dollars ($1,000) for each day for which such violation continues.(Amended by Stats. 1996, Ch. 1064, Sec. 698. Effective January 1, 1997. Operative July 1, 1997.)
CA Fin Code § 31901 (2021)
2021 California Code|Financial Code - FIN|DIVISION 15 - BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS|CHAPTER 13 - Civil Penalties|Section 31901.

31901.  The provisions of Section 31900 are additional to, and not alternative to, other provisions of this division which authorize the commissioner to issue orders or to take other action on account of a violation of any provision of this division or of any regulation or order issued under this division; provided, however, that no person who has been finally convicted under Chapter 12 (commencing with Section 31800) of this division on account of a violation of any provision of Chapter 12 shall be liable to pay a civil penalty under Section 31900 on account of such violation, nor shall any person who has paid a civil penalty under Section 31900 on account of a violation of any provision of Chapter 12 be liable to criminal prosecution under Chapter 12 on account of such violation.(Amended by Stats. 1996, Ch. 1064, Sec. 699. Effective January 1, 1997. Operative July 1, 1997.)
CA Fin Code § 31950 (2021)
2021 California Code|Financial Code - FIN|DIVISION 15 - BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS|CHAPTER 14 - Transition Provisions|Section 31950.

31950.  In this chapter:(a) “Member” has the meaning set forth in the old law.(b) “Old corporation” means a corporation organized under the old law.(c) “Old law” means Part 6 (commencing with Section 14200), Division 3, Title 1 of the Corporations Code, as added by Chapter 985 of the Statutes of 1975. (Added by Stats. 1977, Ch. 1164.)
CA Fin Code § 31951 (2021)
2021 California Code|Financial Code - FIN|DIVISION 15 - BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS|CHAPTER 14 - Transition Provisions|Section 31951.

31951.  Except as otherwise provided in Sections 31004 and 31952, the provisions of the General Corporation Law (Division 1 (commencing with Section 100), Title 1 of the Corporations Code) shall, on and after the effective date of this division, apply to each old corporation; provided, however, that, for purposes of the provisions of Chapter 23 (commencing with Section 2300) of the General Corporation Law, with respect to each old corporation:(a) The term “effective date” shall mean the effective date of this division.(b) The term “prior law” shall mean the old law.(c) Each old corporation shall be deemed to be a corporation referred to in Section 162 of the Corporations Code.(Amended by Stats. 1978, Ch. 965.)
CA Fin Code § 31952 (2021)
2021 California Code|Financial Code - FIN|DIVISION 15 - BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS|CHAPTER 14 - Transition Provisions|Section 31952.

31952.  In case any old corporation has, on the effective date of this division, any members:(a) The old law shall continue to apply with respect to matters relating to the rights and obligations of such members with respect to such old corporation and to matters relating to the rights and obligations of such old corporation with respect to such members, so long as any of such members continues to be a member of such old corporation; provided, however, that, notwithstanding any provision of the old law to the contrary, any member of an old corporation may withdraw from membership in such old corporation by giving to such old corporation written notice of its intent to withdraw from membership in such old corporation not less than 10 days before the date on which it intends to withdraw from membership in such old corporation, which date shall be specified in such notice, and the withdrawal of such member from membership in such old corporation shall be effective on such date.(b) No person shall, on or after the effective date of this division, become a member of such old corporation.(Added by Stats. 1977, Ch. 1164.)
CA Fin Code § 32600 (2021)
2021 California Code|Financial Code - FIN|DIVISION 15.5 - STATE ASSISTANCE FUND FOR ENTERPRISE, BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATION|CHAPTER 5 - Loan Operations|Section 32600.

32600.  (a) The finance officer shall not execute any loan that is not:(1) Approved for guarantee by the Small Business Administration, under that agency’s prevailing standards for loans of similar type, purpose, amount, and duration that are in effect at the time the guarantee is approved by the agency.(2) Approved for guarantee by another governmental loan guarantee authority, and the minimum amount of the guarantee is not less than 50 percent of the principal amount of the loan.(3) Made pursuant to the corporation’s participation with the Small Business Administration as a small business investment company or local development company.(4) Less than 16 percent of the total financing package arranged between the corporation and another lender or lenders on behalf of the applicant.(b) This section does not apply to loans made pursuant to Section 32724.(Amended by Stats. 1994, Ch. 929, Sec. 1. Effective January 1, 1995.)
CA Fin Code § 32601 (2021)
2021 California Code|Financial Code - FIN|DIVISION 15.5 - STATE ASSISTANCE FUND FOR ENTERPRISE, BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATION|CHAPTER 5 - Loan Operations|Section 32601.

32601.  The corporation shall not provide financing assistance on any application, except for any application submitted for review as a special project, which has not been reviewed in the manner specified by the board.(Repealed and added by Stats. 1989, Ch. 1040, Sec. 18.5.)
CA Fin Code § 50000 (2021)
2021 California Code|Financial Code - FIN|DIVISION 20 - CALIFORNIA RESIDENTIAL MORTGAGE LENDING ACT|CHAPTER 1 - General|Section 50000.

50000.  This division will be known and may be cited as the California Residential Mortgage Lending Act.(Added by Stats. 1994, Ch. 994, Sec. 7. Effective January 1, 1995. Section operative January 1, 1996, pursuant to Section 50601 (later repealed).)
CA Fin Code § 50001 (2021)
2021 California Code|Financial Code - FIN|DIVISION 20 - CALIFORNIA RESIDENTIAL MORTGAGE LENDING ACT|CHAPTER 1 - General|Section 50001.

50001.  Unless the context otherwise requires, the definitions in this chapter apply throughout this division.(Added by Stats. 1994, Ch. 994, Sec. 7. Effective January 1, 1995. Section operative January 1, 1996, pursuant to Section 50601 (later repealed).)
CA Fin Code § 50002.5 (2021)
2021 California Code|Financial Code - FIN|DIVISION 20 - CALIFORNIA RESIDENTIAL MORTGAGE LENDING ACT|CHAPTER 1 - General|Section 50002.5.

50002.5.  (a) Every licensee engaging in the business of making, servicing, or making and servicing residential mortgage loans shall require that every mortgage loan originator employed or compensated by that licensee obtains and maintains a mortgage loan originator license from the commissioner under this division or Division 9 (commencing with Section 22000), or has first obtained a license endorsement from the commissioner of Real Estate pursuant to Article 2.1 (commencing with Section 10166.01) of Chapter 3 of Part 1 of Division 4 of the Business and Professions Code.(b) A residential mortgage lender or servicer shall not employ a mortgage loan originator whose license or license endorsement has lapsed.(c) A residential mortgage lender or servicer may not make or broker a residential mortgage loan unless that loan is negotiated by or applied for through a licensed mortgage loan originator.(d) Every licensee engaged in the business of making, servicing, or making and servicing residential mortgage loans and every mortgage loan originator licensed under this division shall register with and maintain a valid unique identifier issued by the Nationwide Mortgage Licensing System and Registry.(e) No mortgage loan originator licensed under this division and employed by a licensed residential mortgage lender or residential mortgage servicer shall engage in any activity that is not an authorized activity for a licensed residential mortgage lender or residential mortgage servicer pursuant to this division.(Added by Stats. 2009, Ch. 160, Sec. 46. (SB 36) Effective October 11, 2009.)
CA Fin Code § 50003.6 (2021)
2021 California Code|Financial Code - FIN|DIVISION 20 - CALIFORNIA RESIDENTIAL MORTGAGE LENDING ACT|CHAPTER 1 - General|Section 50003.6.

50003.6.  (a) A loan processor or underwriter who does not represent to the public, through advertising or other means of communicating or providing information, including the use of business cards, stationery, brochures, signs, rate lists, or other promotional items, that the individual can or will perform any of the activities of a loan originator shall not be required to be licensed as a mortgage loan originator.(b) An individual engaging solely in loan processor or underwriter activities shall not represent to the public, through advertising or other means of communicating or providing information including the use of business cards, stationery, brochures, signs, rate lists, or other promotional items, that the individual can or will perform any of the activities of a mortgage loan originator.(c) An independent contractor may not engage in the activities of a loan processor or underwriter for a residential mortgage loan unless the independent contractor loan processor or underwriter obtains and maintains a residential mortgage lender or residential mortgage servicer license and a mortgage loan originator license under this division.(Added by Stats. 2009, Ch. 160, Sec. 49. (SB 36) Effective October 11, 2009.)
CA Fin Code § 50004 (2021)
2021 California Code|Financial Code - FIN|DIVISION 20 - CALIFORNIA RESIDENTIAL MORTGAGE LENDING ACT|CHAPTER 1 - General|Section 50004.

50004.  “Fraud,” “deceit,” and “defraud” are not limited to common law fraud or deceit.(Added by Stats. 1994, Ch. 994, Sec. 7. Effective January 1, 1995. Section operative January 1, 1996, pursuant to Section 50601 (later repealed).)
CA Fin Code § 50005 (2021)
2021 California Code|Financial Code - FIN|DIVISION 20 - CALIFORNIA RESIDENTIAL MORTGAGE LENDING ACT|CHAPTER 1 - General|Section 50005.

50005.  This division creates and authorizes a class of exempt persons pursuant to Section 1 of Article XV of the California Constitution.(Amended by Stats. 1995, Ch. 564, Sec. 7. Effective January 1, 1996.)
CA Fin Code § 50006 (2021)
2021 California Code|Financial Code - FIN|DIVISION 20 - CALIFORNIA RESIDENTIAL MORTGAGE LENDING ACT|CHAPTER 1 - General|Section 50006.

50006.  No person subject to this law shall use in its name “bank,” “trust,” “trustee,” “loan association,” or related terms. This section does not apply to any person licensed under the Banking Law or the Savings Association Law.(Added by Stats. 1994, Ch. 994, Sec. 7. Effective January 1, 1995. Section operative January 1, 1996, pursuant to Section 50601 (later repealed).)
CA Fin Code § 50120 (2021)
2021 California Code|Financial Code - FIN|DIVISION 20 - CALIFORNIA RESIDENTIAL MORTGAGE LENDING ACT|CHAPTER 2 - Licensing: Residential Mortgage Lender|Section 50120.

50120.  (a) A residential mortgage lender shall file an application for licensure under this chapter with the commissioner to make or service residential mortgage loans in this state.(b) A licensee may not engage in the business as a residential mortgage lender under a name other than the name that appears on the license, or a legally assumed name disclosed either in the application or in an amendment to the application, which shall be reflected on the license.(c) A licensee may not make or service residential mortgage loans secured by real property pursuant to the authority of a license, or an exemption from licensure, under the Real Estate Law.(d) The commissioner may, pursuant to Section 50321, order a licensee to cease any other business conducted at any location where the licensee operates under the authority of a residential mortgage lender license, if the commissioner finds that the conduct of that business has facilitated evasions of this division or the rules adopted pursuant to this division, or that the conduct of that business is in violation of any law to which that business is subject.(e) A license issued for a business location outside this state shall constitute an agreement by the licensee to, at the sole discretion of the commissioner, either (1) make the licensee’s books, accounts, papers, records, and files available to the commissioner or the commissioner’s representatives in this state within 10 calendar days of a request from the commissioner or, (2) pay the reasonable expenses for travel, meals, and lodging of the commissioner or the commissioner’s representatives incurred during an investigation or examination made at the licensee’s location outside this state.(f) The commissioner may, by rule, require an applicant for a residential mortgage lender or servicer license or a residential mortgage lender or servicer licensee to make some or all filings with the commissioner through the Nationwide Mortgage Licensing System and Registry.(g) The commissioner may, by rule, require licensees to pay assessments through the Nationwide Mortgage Licensing System and Registry.(Amended by Stats. 2009, Ch. 160, Sec. 50. (SB 36) Effective October 11, 2009.)
CA Fin Code § 50121 (2021)
2021 California Code|Financial Code - FIN|DIVISION 20 - CALIFORNIA RESIDENTIAL MORTGAGE LENDING ACT|CHAPTER 2 - Licensing: Residential Mortgage Lender|Section 50121.

50121.  The commissioner shall issue a residential mortgage lender license upon the satisfaction of all of the following:(a) The filing with the commissioner of a complete and executed application for licensure, which may, at the discretion of the commissioner, include background and experience disclosures required by any of the uniform application forms of the Nationwide Mortgage Licensing System and Registry.(b) The payment of a nonrefundable investigation fee of one hundred dollars ($100), plus the cost of fingerprint processing and clearance, and an application filing fee of nine hundred dollars ($900).(c) An investigation of the statements required by Section 50124 based upon which the commissioner is able to issue findings that the financial responsibility, criminal records (verified by fingerprint, at the discretion of the commissioner), experience, character, and general fitness of the applicant and of the partners or members thereof, if the applicant is a partnership or association, and of the principal officers and directors thereof, if the license applicant is a corporation, support a finding that the business will be operated honestly, fairly, and in accordance with the requirements of this division.(Amended by Stats. 2009, Ch. 160, Sec. 51. (SB 36) Effective October 11, 2009.)
CA Fin Code § 50122 (2021)
2021 California Code|Financial Code - FIN|DIVISION 20 - CALIFORNIA RESIDENTIAL MORTGAGE LENDING ACT|CHAPTER 2 - Licensing: Residential Mortgage Lender|Section 50122.

50122.  (a) Except as provided in Section 50120, the information provided on an application for a residential mortgage lender, residential mortgage servicer, or residential mortgage lender and servicer license shall be sworn testimony on a form prescribed by the commissioner. If an applicant proposes to engage in business as a residential mortgage loan servicer as well as a residential mortgage lender, this information shall be set forth in the application. The commissioner may issue a license under this chapter to engage in business as a residential mortgage lender or to engage in business as a residential mortgage lender and residential mortgage loan servicer. A person filing an application under this chapter to engage in business as a residential mortgage lender and a residential mortgage loan servicer is not required to file an application under Chapter 3 (commencing with Section 50130).(b) The application shall contain the name and complete business and residential address or addresses of the applicant. If the applicant is a partnership, association, corporation, or other entity, the application shall contain the names and complete business and residential addresses of each member, director, and principal officer. The application also shall include a description of the activities of the applicant in the detail and for the periods that the commissioner may require, including all of the following:(1) A statement of financial solvency, noting the net worth requirements and supported by an audited financial statement prepared by an independent certified public accountant, and access to the supporting credit information as required by this division.(2) A statement that the applicant or its members, directors, or principals, as appropriate, are at least 18 years of age. The statement may be made by providing each person’s date of birth.(3) Information as to the character, fitness, financial and business responsibility, background, experience, and criminal convictions of any of the following:(A) Any person that owns or controls, directly or indirectly, 10 percent or more of any class of stock of the applicant.(B) Any person that controls, directly or indirectly, the election of 25 percent or more of the members of the board of directors of an applicant.(C) Any person or entity that significantly influences or controls the management of the applicant.(4) A description of any disciplinary action filed under any other license through which the person conducts its business.(5) A description of any adverse judgments entered in court actions filed by borrowers based upon allegations of fraud, misrepresentation, or dishonesty in the conduct of the person’s business.(6) A copy of the fidelity bond currently in effect.(7) Other information as required by rule of the commissioner.(Amended by Stats. 2009, Ch. 160, Sec. 52. (SB 36) Effective October 11, 2009.)
CA Fin Code § 50123 (2021)
2021 California Code|Financial Code - FIN|DIVISION 20 - CALIFORNIA RESIDENTIAL MORTGAGE LENDING ACT|CHAPTER 2 - Licensing: Residential Mortgage Lender|Section 50123.

50123.  (a) A residential mortgage lender license shall remain in effect until suspended, surrendered, or revoked.(b) A residential mortgage lender licensee that ceases to engage in the business regulated by this division and desires to no longer be licensed shall inform the commissioner in writing and, at that time, surrender the license and all other indicia of licensure to the commissioner. The licensee shall file a plan for the withdrawal from regulated business, and the plan shall include a timetable for the disposition of the business. The plan shall also include a closing audit, review, or other agreed upon procedures performed by an independent certified public accountant prescribed by rule or order of the commissioner. Upon receipt of the written notice and plan, the commissioner shall review the plan and, if satisfactory to the commissioner, shall accept the surrender of the license. A license is not surrendered until its tender is accepted in writing by the commissioner after a review, and a finding has been made on the licensee’s plan required to be filed by this section, and a determination has been made that there is no violation of this law.(c) A residential mortgage lender or servicer licensee may not surrender its license under this division and, under the authority of a real estate license, subsequently engage in residential mortgage lending or servicing activities that are subject to this division, unless the licensee has been licensed under this division for a period of five years or more.(Amended by Stats. 2009, Ch. 160, Sec. 53. (SB 36) Effective October 11, 2009.)