SECTIONS 28650-28651 - California Statutes

CORPORATIONS CODE

SECTION 28650-28651

28650. Any licensee may offer to surrender its license by filing
with the commissioner the license and a report, which shall (a) be in
a form, (b) contain information, and (c) be signed and verified in a
manner, that the commissioner may by regulation or order require.

28651. (a) Except as otherwise provided in subdivision (b), a
voluntary surrender of a license shall be effective upon the issuance
of an order by the commissioner accepting the offer of surrender and
the report required under Section 28650.
(b) If a proceeding to revoke or suspend a license is pending at
the time when the license and the report required under Section 28650
are filed with the commissioner or if a proceeding to revoke or
suspend a license or to impose conditions upon the surrender of a
license is instituted before the license and the report called for in
Section 28650 are filed with the commissioner, the voluntary
surrender of the license shall become effective at the time and upon
the conditions that the commissioner may by order specify.