California Business and Professions Code

§ 7505.5

BPC § 7505.5 Effective Jan 1, 2010Div. 3 · Ch. 11 · Art. 6

Statute text

The person deemed to be actively in charge of an office shall be the holder of a qualification certificate and the certificate, together with the current renewal certificate, shall be prominently displayed below the repossession agency’s license. The person shall be in charge of not more than two licensed locations. The person shall share equally with the licensee the responsibility for the conduct of the business and the personnel of the licensed agency or agencies, if more than one agency is licensed at that location. This section shall not apply to any licensee who notifies the bureau in writing that the licensee is not conducting any business, but wishes to maintain a current license status with the bureau. When the licensee resumes conducting business, the licensee shall so inform the bureau in writing within 30 days.

Legislative history

Amended by Stats. 2009, Ch. 307, Sec. 79. (SB 821) Effective January 1, 2010.