1. (a) The Commissioner's approval of an application for a license shall, unless extended by the Commissioner, expire three months 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 the applicant's progress to date in preparing to commence transacting in the State of California the business of money transmission.
   3. (3) Proposed timetable for completing preparations to commence transacting in the State of California the business of money transmission.
   4. (4) Amount of additional time requested for completing preparations to commence transacting in the State of California the business of money transmission.
   5. (5) Statement of reasons why such additional time is required for completing preparations to commence transacting in the State of California the business of money transmission.

Note: Authority cited: Sections 321, 334 and 2032, Financial Code. Reference: Section 2032, Financial Code.

History

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

2. Amendment of section and Note filed 8-11-2015; operative 10-1-2015 (Register 2015, No. 33).