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2020 California Code
Food and Agricultural Code - FAC
DIVISION 20 - PROCESSORS, STORERS, DEALERS, AND DISTRIBUTORS OF AGRICULTURAL PRODUCTS
CHAPTER 6 - Processors of Farm Products
ARTICLE 5 - Processor s License
Section 55523.2.
Universal Citation: CA Food & Agri Code § 55523.2 (2020)
55523.2.
Any balance sheet or financial information prepared, retained, or submitted as required by this chapter that shows the applicant to be in an unsound financial condition that impairs the ability to pay farm products creditors in full for farm products received or handled is sufficient grounds to deny the application for license or the renewal of a license. The denial of the application for a license or renewal of a license relating to an unsound financial condition shall include a notice and an opportunity for a hearing.
(Amended by Stats. 1996, Ch. 620, Sec. 3. Effective January 1, 1997.)
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