California Financial Code

§ 331.5

FIN § 331.5 Effective Jan 1, 2019Div. 1 · Ch. 3 · Art. 2

Statute text

(a)(1) A licensee subject to the commissioner’s jurisdiction shall establish and maintain an electronic service address designated for receiving communications and documents that are sent by the commissioner to licensees. This electronic service address shall be provided to the commissioner upon licensure. The electronic service address provided to the commissioner shall not be the electronic service address of any individual employee. A licensee shall have the capacity to receive an attachment that accompanies a message sent to its electronic service address, provided the size of the attachment is reasonable in relation to the technology available at the time the attachment is sent.

(2)Prior to changing the electronic service address most recently provided to the commissioner, the licensee shall notify the commissioner of the change and provide to the commissioner his or her new electronic service address. The commissioner may impose a fine of up to fifty dollars ($50) per day, not to exceed one thousand dollars ($1,000) in the aggregate, on a licensee who fails to notify the commissioner before changing his or her electronic service address or fails to provide the commissioner a new electronic service address.

(3)The commissioner shall provide each licensee that establishes and maintains an electronic service address in accordance with this section with an electronic service address designated for receiving correspondence from licensees subject to the commissioner’s jurisdiction. This service address shall have the capacity to receive an attachment that accompanies a message sent by the licensee, provided the size of the attachment is reasonable in relation to the technology available at the time the attachment is sent.

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Legislative history

Added by Stats. 2018, Ch. 699, Sec. 3. (SB 1361) Effective January 1, 2019.