California Codes, Business and Professions Code - BPC, Division 3 — Professions and Vocations Generally, Chapter 11 — Repossessors, Article 8 — Conduct of Business, Section 7507
A licensee shall notify the bureau within 30 days of any change of its corporate officers or of the addition of any partners. Applications, on forms prescribed by the director, shall be submitted by all new officers and partners. The director may suspend or revoke a license issued under this chapter if the director determines that a new officer or partner has committed any act that constitutes grounds for the denial of a license pursuant to Section 7503.5.
Notes
Requires a licensee to notify the bureau within 30 days of any change in corporate officers or addition of partners, and requires each new officer or partner to submit the prescribed application. Allows the director to suspend or revoke the license if a new officer or partner committed an act constituting grounds for license denial.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 7507 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-3/chapter-11/article-8/section-7507