California § 31232 - If the commissioner finds, with respect to an application for approval for a lice
Full text of California Public Contract Code - PCC § 31232 — If the commissioner finds, with respect to an application for approval for a lice, with citation guidance and answers to common questions.
§ 31232. If the commissioner finds, with respect to an application for approval for a lice
If the commissioner finds, with respect to an application for approval for a licensee to make, or to obligate itself to make, a distribution to its shareholders: (a) That for the applicant to make, or to obligate itself to make, the distribution will not endanger the applicantâs ability to provide financing assistance and management assistance to business firms in this state; and (b) That for the applicant to make, or to obligate itself to make, the distribution will not be unsafe or unsound; the commissioner shall approve the application. If, after notice and a hearing, the commissioner finds otherwise, he or she shall deny the application.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 31232
What does Public Contract Code - PCC § 31232 cover?
Section 31232 ("If the commissioner finds, with respect to an application for approval for a lice") 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 § 31232?
A common citation format is "Public Contract Code - PCC § 31232" (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 § 31232 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.