1. (a) The Commissioner's approval of an application for license shall, unless extended by the Commissioner, expire one year after the date of such approval.

2. (b) An application for an extension of the Commissioner's approval of an application for a license shall contain the following information:

   1. (1) Date on which the approval is scheduled to expire.
   2. (2) Description of progress to date in preparing to commence business.
   3. (3) Proposed timetable for completing preparations to commence business.
   4. (4) Amount of additional time requested for completing preparations to commence business.
   5. (5) Statement of reasons why such additional time is required for completing preparations to commence business.

Note: Authority cited: Section 31101, Financial Code. Reference: Sections 31102 and 31107, Financial Code.

History

1. Amendment of subsection (a) and new Note filed 4-7-97; operative 4-7-97 pursuant to Government Code section 11343.4(d) (Register 97, No. 15).

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