2020 California Code
Business and Professions Code - BPC
DIVISION 3 - PROFESSIONS AND VOCATIONS GENERALLY
CHAPTER 11 - Repossessors
ARTICLE 4 - Licenses
Section 7503.4.
(a) If the applicant for a license is a corporation, the application shall state the true names and complete residence addresses of all officers. The application shall also state the name and address of the person to be actively in charge of the business for which the license is sought. The application shall be subscribed and verified by a duly authorized officer of the applicant and by the qualified certificate holder thereof. The application shall also state whether any of the officers has ever used an alias.
(b) If the applicant for a license is a limited liability company, the application shall state the true names and complete residence addresses of all owners and the name and address of the owner to be actively in charge of the business for which the license is sought. If a qualified certificate holder, other than an owner, is to be actively in charge of the business, then the application shall state the name and address of that person. The application shall be subscribed and verified by each owner and, if any other person is to be actively in charge of the business, the application shall also be subscribed and verified by that person. The application shall also state whether any of the owners has ever used an alias.
(c) Nothing in this chapter permits a domestic or foreign limited liability company to be licensed as a repossession agency.
(Amended by Stats. 1995, Ch. 505, Sec. 8. Effective January 1, 1996.)
