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2025 California Code
Financial Code - FIN
DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW
CHAPTER 1 - General Provisions
ARTICLE 2 - Licensing and Exemptions
Section 23007.
Universal Citation:
CA Fin Code § 23007 (2025)
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23007. The applicant shall file with the application financial statements prepared in accordance with generally accepted accounting principles and acceptable to the commissioner that indicate a net worth of at least twenty-five thousand dollars ($25,000). A licensee, regardless of the number of licensed locations, shall maintain a net worth of at least twenty-five thousand dollars ($25,000) at all times.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
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