2007 California Financial Code Article 6. Termination

CA Codes (fin:33780-33785)

33780.  If, after notice and a hearing, the commissioner finds that
any California agent of a licensee or any director, officer,
employee, or controlling person of such agent:    (a) Has violated
any provision of this chapter or of any regulation or order issued
under this chapter;   (b) Has engaged or participated in any unsafe
or unsound act with respect to the business of selling payment
instruments issued by the licensee; or   (c) Has made or caused to be
made in any application or report filed with the commissioner or in
any proceeding before the commissioner, any statement which was at
the time and in the light of the circumstances under which it was
made, false or misleading with respect to any material fact, or has
omitted to state in any such application or report any material fact
which is required to be stated therein:    The commissioner may issue
an order suspending or barring such agent from continuing to be or
becoming an agent of any licensee or of any person referred to in
Section 33100(a), during the period for which such order is in
effect.



33781.  (a) In case a California agent of a licensee is a bank
(other than a bank organized under the laws of this state), savings
association (other than a savings association organized under the
laws of this state), or credit union, the commissioner shall not
commence any administrative proceeding under Section 33780 against
such agent unless the commissioner shall have first given notice of
his or her intent to do so to the governmental agency having primary
regulatory authority over the agent and unless, within such time as
is in the opinion of the commissioner appropriate in the
circumstances of the case (which time shall be specified in such
notice), such governmental agency shall have refused or failed to
effectuate corrective action by the agent which is satisfactory to
the commissioner.
   (b) No California agent of a licensee which is a bank, savings
association, or credit union shall have standing to raise the
provisions of subdivision (a) as a defense in any administrative
proceeding under Section 33780 or as a basis for challenging or for
refusing to comply with any order issued under Section 33780.




33782.  (a) Any licensee or person referred to in Section 33100(a)
having as a California agent any person to whom an order is issued
pursuant to Section 33780 shall, when such order becomes effective,
immediately terminate such person as a California agent.
   (b) No licensee or person referred to in Section 33100 (a) shall
appoint as a California agent any person with respect to whom an
order issued under Section 33780 is in effect.



33783.  No person with respect to whom an order issued under Section
33780 is in effect shall become or continue to be a California agent
of any licensee or of any person referred to in Section 33100(a).



33784.  (a) Any person to whom an order is issued under Section
33780 may apply to the commissioner to modify or rescind such order.
The commissioner shall not grant such application unless the
commissioner finds that it is in the public interest to do so and
that it is reasonable to believe that such person will, if and when
such person becomes a California agent of a licensee, comply with all
applicable provisions of this division and of any regulation and
order issued under this division.
   (b) The right of any person to whom an order is issued under
Section 33780 to petition for judicial review of such order shall not
be affected by the failure of such person to apply to the
commissioner pursuant to subdivision (a) to modify or rescind the
order.


33785.  No licensee shall appoint or continue as a California agent
any person whom the Commissioner of Corporations has, pursuant to
Section 12301.4, ordered a check seller licensed under Division 3
(commencing with Section 12000) to terminate as its agent, unless the
Commissioner of Corporations shall have first, pursuant to Section
12301.4, vacated such order or given his written consent for any
check seller licensed under Division 3 to appoint such person as its
agent.