Only the following persons may apply for or be issued a license:

(a) A corporation or limited liability company organized under the laws of this state.

Terms Used In California Financial Code 2031

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.

(b) A corporation, other than a corporation organized under the laws of this state, that is qualified to transact intrastate business in this state under Chapter 21 (commencing with Section 2100) of Division 1 of Title 1 of the Corporations Code.

(c) A limited liability company, other than a limited liability company organized under the laws of this state, that is qualified to transact intrastate business in this state under Article 8 (commencing with Section 17708.01) of the Corporations Code, except a limited liability company that is organized outside the United States shall not be issued a license.

(Amended by Stats. 2014, Ch. 499, Sec. 4. (AB 2209) Effective January 1, 2015.)

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