Section 2122 - Events requiring licensee to file reportA licensee shall file a report with the commissioner within five business days after the licensee has reason to know of the occurrence any of the following events:
(a) The filing of a petition by or against the licensee under the United States Bankruptcy Code (11 U.S.C. Secs. 101 - 110, incl.) for bankruptcy or reorganization.(b) The filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors.(c) The commencement of a proceeding to revoke or suspend its license in a state or country in which the licensee engages in business or is licensed.(d) The cancellation or other impairment of the licensee's bond or other security.(e) A charge or conviction of the licensee or of an executive officer, manager, director, or person in control of the licensee for a felony.(f) A charge or conviction of an agent for a felony.Added by Stats 2011 ch 243 (SB 664),s 4, eff. 1/1/2012.