SECTIONS 31320-31322 - California Statutes

FINANCIAL CODE

SECTION 31320-31322

31320. (a) No licensee shall relocate its head office without the
prior approval of the commissioner.
(b) No licensee shall establish, relocate, or close any office
(other than its head office) unless it files a report on the action
with the commissioner not less than 30 days (or such shorter period
as the commissioner may approve) before taking the action.

31322. If the commissioner finds, with respect to an application by
a licensee for approval to relocate its head office:
(a) That the office at its proposed location will be reasonably
accessible to the public;
(b) That it is reasonable to believe that the applicant will
operate the office at its proposed location in compliance with all
applicable provisions of this division and of any regulation or order
issued under this division;
(c) That it will not be unsafe or unsound for the applicant to
relocate the office; and
(d) That the relocation of the office will not be detrimental to
the public convenience and advantage, or, if the relocation of the
office would be detrimental to the public convenience and advantage,
that the relocation of the office is necessary in the interests of
the safety and soundness of the applicant; the commissioner shall
approve the application. If, after notice and a hearing, the
commissioner finds otherwise, the commissioner shall deny the
application.