1. (a) Whenever a licensee files with the Small Business Administration an application for eligibility to participate with the Small Business Administration in making loans, such licensee shall concurrently file with the Commissioner a report containing a copy of such application.
2. (b) Whenever a licensee files with the Small Business Administration an amendment of any application of the type referred to in Subdivision (a) of this Section, such licensee shall concurrently file with the Commissioner a report containing a copy of such amendment.
3. (c) Whenever an application of the type referred to in Subdivision (a) of this Section by a licensee is approved or denied, such licensee shall promptly file with the Commissioner a report containing a copy of such approval or denial.
4. (d) Whenever proceedings are initiated to suspend or revoke the eligibility of a licensee to participate with the Small Business Administration in making loans, such licensee shall promptly file with the Commissioner a report containing a copy of the notice, complaint, or any other document by which such proceedings were initiated.
5. (e) Whenever the eligibility of a licensee to participate with the Small Business Administration in making loans is suspended or revoked, such licensee shall promptly file with the Commissioner a report containing a copy of the order, decision, or other document by which such eligibility was suspended or revoked.

6. (f) Whenever a licensee surrenders for cancellation its eligibility to participate with the Small Business Administration in making loans, such licensee shall promptly file with the Commissioner a report containing the following information:

   1. (1) Identify the eligibility of the licensee to participate with the Small Business Administration in making loans.
   2. (2) State the date on which the eligibility was surrendered.
   3. (3) State the reasons why the eligibility was surrendered.

Note: Authority cited: Section 31101, Financial Code. Reference: Section 31506, Financial Code.

History

1. Change without regulatory effect amending section and adding new Note filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).