reglab/statecodes huggingface dataset:
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 1 - General Provisions › Subarticle 1 - Citation and Construction › Section 50.4 - References to Corporations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Except as otherwise expressly provided in this
						Subchapter, the references in this Subchapter to corporations or to aspects of
						corporations apply to all corporations, whether for profit or nonprofit. For
						the sake of convenience, references in this Subchapter to corporations and to
						aspects of corporations are set forth in terms appropriate to profit
						corporations. However, whenever any reference in this Subchapter to a
						corporation or to an aspect of a corporation is applicable to a nonprofit
						corporation, if the term of such reference is not appropriate to a nonprofit
						corporation, the term of the reference shall be construed to be the closest
						equivalent term of reference appropriate to a nonprofit corporation. For
						example, a reference in this Subchapter to the shareholders of a corporation
						shall, in the case of a corporation which is a nonprofit corporation, be
						construed to be a reference to the members of such nonprofit
						corporation.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 1 - General Provisions › Subarticle 1 - Citation and Construction › Section 50.5 - References to Financial Statements and Accounting Items

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In this Subchapter, and the Business and Industrial
						Development Corporations Law, all references to financial statements and all
						references to assets, liabilities, earnings, retained earnings, shareholders'
						equity, and similar accounting items mean such financial statements and such
						accounting items prepared or determined in conformity with generally accepted
						accounting principles then applicable, fairly presenting in conformity with
						generally accepted accounting principles the matters which they purport to
						present, subject to any specific accounting treatment required by the
						Commissioner, this Subchapter, the Business and Industrial Development
						Corporations Law, or any other applicable law.
1. Change
						without regulatory effect amending section and adding new NOTE filed 8-19-97
						pursuant to section
						100, title 1, California Code of
						Regulations (Register 97, No. 34).
Note: Authority cited: Section
						  31101,
						  Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 1 - General Provisions › Subarticle 1 - Citation and Construction › Section 50.6 - Filing of Financial Statements

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Whenever the Commissioner or this Subchapter requires
						that a financial statement of a person be filed with the Commissioner but does
						not require that such financial statement be set forth on a form provided by
						the Commissioner, if the financial statement is available as certified by an
						independent certified public accountant, the financial statement as so
						certified shall be filed with the Commissioner.
1. Change
						without regulatory effect amending section and adding new NOTE filed 8-19-97
						pursuant to section
						100, title 1, California Code of
						Regulations (Register 97, No. 34).
Note: Authority cited: Section
						  31101,
						  Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 1 - General Provisions › Subarticle 1 - Citation and Construction › Section 50.7 - Responsibility for Filing Reports

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Whenever any provision of this Subchapter requires that a
						licensee and another person (for example, a director, officer, employee, or
						affiliate of such licensee) file with the Commissioner a report regarding a
						matter, it will be sufficient if either (a) the licensee or (b) such other
						person files such report, so long as the report contains all the information
						required by such provision. In the case of such a provision, however, the
						licensee and the other person are each responsible for filing the report, and
						neither will be excused from such responsibility by the failure of the other to
						comply.
1. Change
						without regulatory effect amending section and adding new NOTE filed 8-19-97
						pursuant to section
						100, title 1, California Code of
						Regulations (Register 97, No. 34).
Note: Authority cited: Section
						  31101,
						  Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 1 - General Provisions › Subarticle 1 - Citation and Construction › Section 50.8 - Notice: Service

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Whenever the Commissioner or this Subchapter requires
						that a licensee serve a notice on a customer or creditor, such licensee may
						serve such notice either by delivering it to such customer or creditor or by
						depositing it in the United States mail, addressed to the customer or creditor
						at his last address according to the records of the licensee, with registered,
						certified, or first-class postage charges prepaid. However, if the document
						last mailed to the customer or creditor at such address was returned by the
						United States Postal Service marked to indicate that the United States Postal
						Service was unable to deliver such document to the customer or creditor at such
						address, the notice shall be deemed to have been given without the licensee's
						delivering or mailing it if it is available for the customer or creditor upon
						written request at an appropriate office of the licensee for a reasonable
						period of time.
1. Change
						without regulatory effect amending section and adding new NOTE filed 8-19-97
						pursuant to section
						100, title 1, California Code of
						Regulations (Register 97, No. 34).
Note: Authority cited: Section
						  31101,
						  Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 1 - General Provisions › Subarticle 1 - Citation and Construction › Section 50.9 - Notice: Language

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Whenever this Subchapter calls for a licensee to give a
						notice, the Commissioner may require that such licensee give such notice not
						only in the English language but also in one or more other languages if the
						circumstances of the persons to whom the notice is to be given make such
						requirement advisable.
1. Change
						without regulatory effect amending section and adding new NOTE filed 8-19-97
						pursuant to section
						100, title 1, California Code of
						Regulations (Register 97, No. 34).
Note: Authority cited: Section
						  31101,
						  Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 1 - General Provisions › Subarticle 2 - Definitions › Section 50.100 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
This Subarticle contains definitions for this Subchapter.
						Subject to additional definitions contained in this Subchapter which are
						applicable to specific provisions of this Subchapter and unless the context
						otherwise requires, the definitions in this Subarticle apply throughout this
						Subchapter.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 1 - General Provisions › Subarticle 2 - Definitions › Section 50.101 - Definitions in Business and Industrial Development Corporations Law

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Subject to additional definitions contained in this
						Subchapter which are applicable to specific provisions of this Subchapter and
						unless the context otherwise requires, the definitions in Article 3 (commencing
						with Section
						31030), Chapter 1 of the Business
						and Industrial Development Corporations Law apply throughout this
						Subchapter.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 1 - General Provisions › Subarticle 2 - Definitions › Section 50.102 - " Percent Equity Security Owner."

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"___ percent equity security owner," when used with
						respect to a corporation or other organization, means any person who owns,
						directly or indirectly, of record or beneficially, the specified percentage or
						more of any class of the equity securities of such corporation or other
						organization.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 1 - General Provisions › Subarticle 2 - Definitions › Section 50.103 - " Percent (Including Associates) Equity Security Owner."

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"___ percent (including associates) equity security
						owner," when used with respect to a corporation or other organization, means
						any person who owns, directly or indirectly, of record or beneficially, equity
						securities of such corporation or other organization which, when combined with
						the equity securities of the corporation or other organization owned, directly
						or indirectly, of record or beneficially, by all associates of such person,
						constitute the specified percentage or more of any class of the equity
						securities of the corporation or other organization.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 1 - General Provisions › Subarticle 2 - Definitions › Section 50.104 - Adviser

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Adviser" means an attorney at law, a certified public
						accountant, an economist, or a person who provides management or technical
						advice to business firms.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 1 - General Provisions › Subarticle 2 - Definitions › Section 50.105 - Associate

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Associate," when used to indicate a relationship with a
						specified person who is related with a licensee or an applicant for a license,
						means:
(a) Any corporation or other
					 organization (other than the licensee or the applicant for a license or a
					 subsidiary of the licensee or of the applicant for a license) of which the
					 specified person is an officer or partner or is, directly or indirectly, the
					 beneficial owner of 10% or more of any class of the equity
					 securities.
(b) Any trust or other
					 estate in which the specified person has a substantial beneficial interest or
					 as to which the specified person serves as a trustee or in a similar fiduciary
					 capacity.
(c) Any relative or
					 spouse of the specified person, or any relative of such spouse, who has the
					 same home as the specified person or who is a director or officer of the
					 licensee, of the applicant for a license, or of any parent or subsidiary of the
					 licensee or of the applicant for a license.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 1 - General Provisions › Subarticle 2 - Definitions › Section 50.106 - Beneficial

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Beneficial," when used with respect to ownership of
						securities by a specified person, includes, in addition to direct and indirect
						beneficial ownership by such specified person, direct and indirect beneficial
						ownership:
(a) By the spouse (except
					 where legally separated) and minor children (including stepchildren and adopted
					 children) of the specified person; and
(b) By any other relative o the specified
					 person who has the same home as the specified person.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 1 - General Provisions › Subarticle 2 - Definitions › Section 50.107 - Equity Security

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Equity security" means any stock or similar security, or
						any security convertible, with or without consideration, into such a security
						or carrying any warrant or right to purchase such a security, or any such
						warrant or right.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 1 - General Provisions › Subarticle 2 - Definitions › Section 50.108 - Executive Officer

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Executive officer," when used with respect to a
						specified person (other than an individual), means any person who participates
						or who has authority to participate, otherwise than in the capacity of a
						director, in major policy-making functions of such specified person, regardless
						of whether or not he has an official title, whether or not his title contains a
						designation of assistant, and whether or not he serves with salary or other
						compensation. Each of the following is rebuttably presumed to be an executive
						officer of a licensee unless he is excluded by the by-laws of such licensee or
						by resolution of the board of the licensee from participating in major
						policy-making functions and does not actually participate therein: the chairman
						of the board, the vice-chairman of the board, the chairman of the executive
						committee, the president, any vice president (including any executive vice
						president, senior vice president, or regional vice president, but excluding any
						assistant vice president), the secretary, the chief financial officer, the
						treasurer, and the controller.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 1 - General Provisions › Subarticle 2 - Definitions › Section 50.109 - Parent

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Parent," when used with respect to a specified person
						(other than an individual), means any person (other than an individual) which
						controls such specified person, directly or indirectly through one or more
						intermediaries.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 1 - General Provisions › Subarticle 2 - Definitions › Section 50.110 - Records

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Records" includes books, accounts, and other
						records.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 1 - General Provisions › Section 50.3000 - Definition of "Applicant" and Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) In this Article, "applicant" means a
					 California corporation which applies to the Commissioner for a
					 license.
(b) This Article contains
					 regulations relating to the issuance of a license pursuant to Chapter 3
					 (commencing with Section
					 31150) of the Business and
					 Industrial Development Corporations Law. This Subarticle contains general
					 provisions relating to the issuance of a license. Subarticle 2 (commencing with
					 Section 50.3100) of this Article contains
					 regulations relating to an application for a license. Subarticle 3 (commencing
					 with Section
					 50.3200) of this Article contains
					 regulations which set forth administrative standards and procedures relating to
					 an application for a license. Subarticle 4 (commencing with Section
					 50.3300) of this Article contains
					 regulations relating to matters after an application for a license is approved
					 by the Commissioner.
1. Change
						without regulatory effect amending section and adding new NOTE filed 8-19-97
						pursuant to section
						100, title 1, California Code of
						Regulations (Register 97, No. 34).
Note: Authority cited: Section
						  31101,
						  Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 1 - General Provisions › Section 50.3001 - Other Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In this Article:
(a) "Member," when used with respect to an
					 applicant which is an old corporation, has the meaning set forth in Financial
					 Code Section
					 31950(a).
(b) "Old corporation" has the meaning set
					 forth in Financial Code Section
					 31950(b).
(c) "Promoter," when used with respect to an
					 applicant, means:
(1) Any person who, alone
					 or in conjunction with one or more other persons, directly or indirectly takes
					 the initiative in founding and organizing the applicant; or
(2) Any person who, in connection with the
					 founding and organizing of the applicant, directly or indirectly receives in
					 consideration of services or property, or both, 10% or more of any class of
					 securities of the applicant or 10% or more of the proceeds from the sale of any
					 class of such securities. However, any person who receives such securities or
					 proceeds either solely as underwriting commissions or solely in consideration
					 of property shall not be deemed to be a promoter if he does not otherwise take
					 part in founding and organizing the applicant.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 1 - General Provisions › Section 50.3002 - Commencement of Business

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
For purposes of this Article, an applicant shall be
						deemed to commence business at the time when, the Commissioner having issued
						such applicant a license, the applicant opens for the purpose of transacting
						business as a business and industrial development corporation pursuant to the
						Business and Industrial Development Corporation Law.
1. Change
						without regulatory effect amending section and adding new NOTE filed 8-19-97
						pursuant to section
						100, title 1, California Code of
						Regulations (Register 97, No. 34).
Note: Authority cited: Section
						  31101,
						  Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3100 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
This Subarticle contains regulations relating to an
						application for a license.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3101 - Included Application

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
					 An application for a license which proposes that the applicant commence
					 business with its office in temporary quarters and subsequently relocate its
					 office to permanent quarters shall, unless otherwise provided in such
					 application, be deemed to include an application for approval under Financial
					 Code Section
					 31320 for
					 the applicant to relocate its office from such temporary quarters to such
					 permanent quarters and shall be accompanied by the fee prescribed in Financial
					 Code Section
					 31115(a)(4).
					 Approval of such an application for a license shall, unless otherwise provided
					 in such approval, be deemed to include approval of such included application
					 for approval for the applicant to relocate its office.
(b) An application for a license by an
					 applicant which holds control of a corporation of the type described in
					 Subdivision (b), (c), or (d) of Financial Code Section
					 31406 and
					 which proposes to continue to hold control of such corporation after commencing
					 business shall, unless otherwise provided in such application, be deemed to
					 include an application for approval under Subdivision (b), (c), or (d), as the
					 case may be, of Section
					 31406 for the applicant to hold
					 control of the corporation. Approval of such an application for a license,
					 shall, unless otherwise provided in such approval, be deemed to include
					 approval of such included application for approval for the applicant to hold
					 control of the corporation.
(c) An
					 application for a license which proposes that the applicant have any other
					 person make or keep any of its records (except as provided in the blanket
					 approvals set forth in Part 2 (commencing with Section
					 50.14225), Subarticle 3, Article
					 13 of this Subchapter) shall, unless otherwise provided in such application, be
					 deemed to include an application for approval under Financial Code Section
					 31508 for
					 the applicant to have such other person make or keep such other records.
					 Approval of such an application for a license shall, unless otherwise provided
					 in such approval, be deemed to include approval of such included application
					 for approval for the applicant to have the other person make or keep the
					 records.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3102 - Facing Page

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
An application for a license shall have as its first page
						a facing page in the form of Department Form 1010 and shall contain the
						information called for therein.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3103 - Additional Information

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
An application for a license shall contain, in addition
						to the information called for in the facing page, the information called for in
						Sections 50.3104 to
						50.3125, inclusive, of this
						Chapter.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3104 - Information Regarding Market

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Describe the market which the applicant proposes to
						serve. Such description shall include the following:
(a) Describe the relevant characteristics of
					 the economy of the market area, including business activity and
					 unemployment.
(c) Describe the
					 business firms which are located in the market area and which the applicant
					 proposes to serve, including:
(1) Types of
					 business conducted by the business firms.
(2) Number of the business firms.
(3) Prospects for growth of the business
					 firms.
(4) Prospects for
					 establishment of additional business firms.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3105 - Information Regarding Plan for Penetrating Market

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Describe the applicant's plan for penetrating the market
						which it proposes to serve. Such description shall include the
						following:
(a) Describe the services
					 which the applicant proposes to offer to business firms, including:
(1) Types of financing assistance proposed to
					 be offered, detailing, with respect to each type of financing assistance, the
					 terms of such financing assistance (including, in the case of loans, interest
					 rates, other fees, and maturities) and the proportion of its funds which the
					 applicant proposes to devote to such financing assistance.
(2) Types of management assistance proposed
					 to be offered, detailing, with respect to each type of management assistance,
					 the scope of such management assistance and the fees proposed to be charged for
					 such management assistance.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3106 - Information Regarding Board

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Provide a table showing, with respect to
					 each director of the applicant:
(1)
					 Name.
(2) Business
					 address.
(3) Home
					 address.
(4) Age.
(5) Business or occupation.
(6) Amount and types of securities of the
					 applicant which the director owns or proposes to own, directly or indirectly,
					 of record or beneficially.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3107 - Information Regarding Officers, Employees, and Advisers

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Provide a table showing, with respect to
					 the chief executive officer and each other officer of the applicant:
(1) Name.
(2) Business address.
(3) Home address.
(4) Age.
(5) Business or occupation.
(6) Amount and types of securities of the
					 applicant which the officer owns or proposes to own, directly or indirectly, of
					 record or beneficially.
(7)
					 Title.
(8) Duties.
(9) Annual salary.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3108 - Information Regarding Office

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Show that the office of the applicant is
					 reasonably accessible to the public.
(b) In case the applicant proposes to
					 commence business with its office in temporary quarters and subsequently
					 relocate its office to permanent quarters:
(1) State the address or vicinity of the
					 permanent quarters.
(2) State the
					 time when the applicant proposes to relocate its office from the temporary
					 quarters to the permanent quarters.
(3) Provide the information called for in
					 Subdivisions (a) of this Section both with respect to the temporary quarters
					 and with respect to the permanent quarters.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3109 - Information Regarding Proposed Operations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
State whether or not the applicant proposes to have any
						other person make or keep any of its records (except as provided in the blanket
						approvals set forth in Part 2 (commencing with Section
						50.14225), Subarticle 3, Article
						13 of this Subchapter). If so, provide the information called for in Section
						50.14251 of this
						Chapter.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3110 - Information Regarding Plan for Obtaining Funds

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Describe the applicant's plan for
					 obtaining funds for use in operating its business and, in particular, for use
					 in providing financing assistance to business firms. Such plans shall include
					 the following:
(1) Describe the means by which
					 the applicant proposes to obtain funds (for example, by selling securities
					 issued by it, by borrowing, or by selling loans or other assets owned by
					 it).
(2) Identify the sources from
					 which the applicant proposes to obtain funds through each of the means referred
					 to in Paragraph (1) of this Subdivision (a).
(3) State the amount of funds which the
					 applicant proposes to obtain through each of the means referred to in Paragraph
					 (1) of this Subdivision (a) and from each of the sources referred to in
					 Paragraph (2) of this Subdivision (a).
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3111 - Information Regarding PRO Forma Financial Statements

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Provide a pro forma balance sheet of the
					 applicant as of the date of commencing business.
(b) Provide a pro forma balance sheet of the
					 applicant as of the end of, and a pro forma statement of income for, a pro
					 forma statement of cash flows for, and a pro forma statement of shareholders'
					 equity for, each month of the first six months of transacting business, each
					 quarter of the next succeeding 18 months of transacting business, and each half
					 of the third year of transacting business.
(c) Explain the basis of the pro forma
					 financial statements called for in this section.
1.
						Amendment of subsection (b) and new NOTE filed 4-7-97; operative 4-7-97
						pursuant to Government Code section
						11343.4(d)
						(Register 97, No. 15).
Note: Authority cited: Section
						  31101,
						  Financial Code. Reference: Section
						  31107,
						  Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3112 - Information Regarding History

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Summarize the history of the applicant.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3113 - Information Regarding Corporate Matters

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Provide a Certificate of Good Standing
					 issued by the Secretary of State as of a date within 30 days before the filing
					 of the application, certifying that the applicant is a corporation which is
					 duly organized, subsisting, and in good standing under the laws of the State of
					 California.
(b) Provide a copy of
					 the articles of the applicant and of each amendment thereto. Each such copy of
					 the articles of the applicant and of any amendment thereto shall be certified
					 by the Secretary of State.
(c)
					 Provide a copy of the by-laws of the applicant, as amended to the date of the
					 filing of the application. Such copy of the by-laws of the applicant, as
					 amended, shall be certified by the secretary or by an assistant secretary of
					 the applicant.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3114 - Information Regarding Securities

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
With respect to each type of security of the applicant
						which is issued and outstanding or which is proposed to be issued:
(a) Describe such type of security.
(b) State the amount of the securities of
					 such type which are issued and outstanding or which are proposed to be
					 issued.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3115 - Information Regarding Financial Statements and Reports

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Provide the following financial
					 statements of the applicant:
(1) Balance sheet
					 as of a date within 30 days before the filing of the application.
(2) If the balance sheet called for in
					 Paragraph (1) of this Subdivision (a) is not as of the end of a fiscal year of
					 the applicant, a balance sheet as of the end of the fiscal year of the
					 applicant next preceding the date of such balance sheet.
(3) Statement of income, a statement of cash
					 flows, and a statement of shareholders' equity for each of the three fiscal
					 years of the applicant next preceding the date of the balance sheet called for
					 in Paragraph (1) of this Subdivision (a) and, if such balance sheet is not as
					 of the end of a fiscal year of the applicant, a statement of income, a
					 statement of cash flows, and a statement of shareholders' equity for the
					 interim period from a statement of the balance sheet called for in Paragraph
					 (2) of this Subdivision (a) to the date of the balance sheet called for in
					 Paragraph (1) of this Subdivision (a).
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3116 - Information Regarding Controlling Persons and Affiliates

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) In this section, "subject person," when
					 used with respect to the applicant, means:
(1)
					 Any individual who controls or is proposed to control the applicant;
					 or
(2) Any person (other than an
					 individual) which controls or is proposed to control the applicant or which
					 otherwise is or is proposed to be an affiliate of the applicant (including, in
					 case such person consists of a group of persons acting in concert, each person
					 who is a member of such group).
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3117 - Information Regarding Promoters

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In case the applicant was incorporated within three years
						before the filing of the application, state whether or not there is any
						promoter of the applicant who is neither a director, officer, controlling
						person, nor proposed controlling person of the applicant, and, if so, with
						respect to each such promoter:
(a) In
					 case the promoter is an individual, state:
(1)
					 Name.
(2) Business
					 address.
(3) Home
					 address.
(4) Business or
					 occupation.
(5) Amount and type of
					 securities of the applicant which the promoter owns or proposes to own,
					 directly or indirectly, of record or beneficially.
(6) Whether or not the promoter participates
					 or proposes to participate in the management or operation of the applicant,
					 and, if so, a description of such participation.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3118 - Information Regarding Five Percent Equity Security Owners

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
State whether or not the applicant has or is proposed to
						have any five percent (including associates) equity security owners, and, if
						so, provide, with respect to each such person:
(a) Name.
(b) Business address.
(c) Title of any position which the person
					 holds with the applicant.
(d)
					 Amount and types of equity securities of the applicant owned, directly or
					 indirectly, of record or beneficially, by the person or his
					 associates.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3119 - Information Regarding Members

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In case the applicant is an old corporation, state
						whether or not the applicant has any members, and, if so, with respect to each
						member:
(a) State the name and address
					 of the member.
(b) Describe the
					 terms of the member's membership.
(c) State whether or not the member proposes
					 to withdraw from membership, and, if so, the time when such withdrawal is
					 proposed to become effective.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3120 - Information Regarding Legal Proceedings

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) In this section, "subject person," when
					 used with respect to the applicant, means:
(1)
					 Any individual who controls, or is proposed to control, the
					 applicant;
(2) Any person (other
					 than an individual) which controls or proposes to control the applicant or
					 which otherwise is, or is proposed to be, an affiliate of the applicant
					 (including, in case such person is a group of persons acting in concert, each
					 person who is a member of such group).
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3121 - Information Regarding Other Licenses

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
State whether or not the applicant has, or proposes to
						obtain, any license from a governmental agency other than a license from the
						Commissioner pursuant to the Business and Industrial Development Corporations
						Law, and, if so, state, with respect to each such license:
(a) Name of the governmental agency by which
					 the license was issued or is proposed to be issued.
(b) Law pursuant to which the license was
					 issued or is proposed to be issued.
(c) Business which the applicant is
					 authorized to transact or is proposed to be authorized to transact under the
					 license.
(d) Any material
					 conditions to which the license is subject or is proposed to be
					 subject.
1. Change
						without regulatory effect amending section and adding new NOTE filed 8-19-97
						pursuant to section
						100, title 1, California Code of
						Regulations (Register 97, No. 34).
Note: Authority cited: Section
						  31101,
						  Financial Code. Reference: Section
						  31107,
						  Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3122 - Information Regarding Public Convenience and Advantage

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Show that the licensing of the applicant will promote the
						public convenience and advantage.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3123 - Information Regarding Reasonable Promise of Successful Operation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Show that the applicant has reasonable promise of
						successful operation as a business and industrial development
						corporation.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3124 - Information Regarding Purposes of Applicant

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
State the reasons why the applicant wishes to obtain a
						license to transact business as a business and industrial development
						corporation.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3125 - Information Regarding Assistance in Preparation of Application

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
State whether or not the applicant has been assisted by
						any adviser in preparing the application and, if so, with respect to each such
						adviser, state:
(a) Name of the
					 adviser.
(b) Name of firm of which
					 the adviser is a member or by which the adviser is employed.
(c) Business address of the
					 adviser.
(d) Specification of parts
					 of the application which the adviser assisted the applicant in
					 preparing.
(e) Amount of fees and
					 description of other compensation which has been paid or is to be paid to the
					 adviser for services rendered or to be rendered in connection with the
					 licensing of the applicant.
(f)
					 Amount and types of securities of the applicant which the adviser and his
					 associates own or propose to own, directly or indirectly, of record or
					 beneficially.
1.
						Amendment of subsection (c) and new NOTE filed 4-7-97; operative 4-7-97
						pursuant to Government Code section
						11343.4(d)
						(Register 97, No. 15).
Note: Authority cited: Section
						  31101,
						  Financial Code. Reference: Section
						  31107,
						  Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3126 - Information Regarding Authorization of Board

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Provide a copy of a resolution of the
					 board of the applicant:
(1) Authorizing the
					 applicant to apply for a license.
(2) Authorizing the Commissioner to examine
					 the applicant in connection with the application.
(3) Authorizing and directing all directors,
					 officers, employees, and advisers of the applicant and any persons having
					 custody of any of the records of the applicant to furnish to the Commissioner
					 such information, and to permit him to inspect and copy such records, as he may
					 request in connection with the application.
(4) Authorizing any governmental agency
					 having information or records regarding the applicant to furnish to the
					 Commissioner such information, and to permit him to inspect and copy such
					 records, as he may request in connection with the
					 application.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 50 - Business and Industrial Development Corporations › Article 4 - Issuance of License › Subarticle 2 - Application › Section 50.3127 - Signature, Acknowledgment, and Verification

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) An application for a license shall be
					 signed in the name of the applicant by an officer of the applicant.
(b) The signature of the applicant on an
					 application for a license shall be acknowledged.
(c) An application for a license shall be
					 verified by the officer of the applicant who signs such application on behalf
					 of the applicant.