California § 28140 - A licensee shall continuously maintain a minimum net worth of at least two hundre
Full text of California Public Contract Code - PCC § 28140 — A licensee shall continuously maintain a minimum net worth of at least two hundre, with citation guidance and answers to common questions.
§ 28140. A licensee shall continuously maintain a minimum net worth of at least two hundre
(a) A licensee shall continuously maintain a minimum net worth of at least two hundred fifty thousand dollars ($250,000). (b) Subject to the commissionerâs sole discretion, an applicant or licensee that is a wholly owned subsidiary of a public holding company required to comply with the reporting requirements of the Securities and Exchange Commission may satisfy the requirement of subdivision (a) by submitting the annual consolidated audited financial statements filed with the Securities and Exchange Commission, including consolidating financial statements of the subsidiary, which evidence to the commissionerâs satisfaction that the subsidiary meets the continuous minimum net worth requirements of at least two hundred fifty thousand dollars ($250,000).
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 28140
What does Public Contract Code - PCC § 28140 cover?
Section 28140 ("A licensee shall continuously maintain a minimum net worth of at least two hundre") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 28140?
A common citation format is "Public Contract Code - PCC § 28140" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 28140 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.