Cal. Fin. Code § 31502

Current through the 2023 Legislative Session.

Section 31502 - Asset carried on books at valuation exceeding actual cost

No licensee shall, except with the prior approval of the commissioner, enter or carry on its books or records any asset at a valuation exceeding the actual cost of such asset to such licensee.

Ca. Fin. Code § 31502

Amended by Stats. 1996, Ch. 1064, Sec. 662. Effective January 1, 1997. Operative July 1, 1997.