California § 5502 - The commissioner shall not approve any petition for certificate of authority unle
Full text of California Public Contract Code - PCC § 5502 — The commissioner shall not approve any petition for certificate of authority unle, with citation guidance and answers to common questions.
§ 5502. The commissioner shall not approve any petition for certificate of authority unle
The commissioner shall not approve any petition for certificate of authority unless it is found from the data furnished with the petition, the evidence adduced at the hearing, if one is held, and official records, that the prerequisites of this division have been complied with and that: (a) The character, responsibility, financial resources, and general fitness of the persons named in the petition warrant belief that the business of the proposed association will be honestly and efficiently conducted in accordance with the intent and purpose of this division and that the proposed association will have qualified full-time management. (b) There is a public need for the proposed association and the business plan, and the anticipated volume of business of the proposed association indicates a profitable operation.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 5502
What does Public Contract Code - PCC § 5502 cover?
Section 5502 ("The commissioner shall not approve any petition for certificate of authority unle") 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 § 5502?
A common citation format is "Public Contract Code - PCC § 5502" (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 § 5502 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.