Sec. 30257 - Bankruptcy Notification

ยง 30257. Bankruptcy Notification

(a) Each general licensee required to register pursuant to sections 30192.1(d)(1) or 30192.6(c)(1), and each specific licensee, shall notify the Department in writing immediately following the filing of a voluntary or involuntary petition for bankruptcy under any chapter of title 11 (Bankruptcy) of the United States Code (11 U.S.C.) by or against:

(1) The licensee;

(2) An entity (as that term is defined in 11 U.S.C. 101(15)) controlling the licensee or listing the license or licensee as property of the estate; or

(3) An affiliate (as that term is defined in 11 U.S.C. 101(2)) of the licensee.

(b) The notification to the Department shall indicate:

(1) The bankruptcy court in which the petition for bankruptcy was filed; and

(2) The date of the filing of the petition.

(1. Renumbering of former section 30299 to section 30257 filed 3-3-94 as an emergency; operative 3-3-94 (Register 94, No. 9). A Certificate of Compliance must be transmitted to OAL by 7-1-94 or emergency language will be repealed by operation of law on the following day. 2. Certificate of Compliance as to 3-3-94 order transmitted to OAL 6-7-94 and filed 7-14-94 (Register 94, No. 28). 3. Amendment of section and Note filed 6-8-2011; operative 7-8-2011 (Register 2011, No. 23). 4. Amendment of subsection (a)(2) filed 12-30-2014; operative 4-1-2015 (Register 2015, No. 1). 5. Amendment of subsection (a) filed 3-18-2019; operative 7-1-2019 (Register 2019, No. 12).)

Note: Authority cited: Sections 114975, 115000 and 131200, Health and Safety Code. Reference: Sections 114965, 114970, 115060, 115175, 115205, 115230, 115235, 131050, 131051 and 131052, Health and Safety Code.

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