California Corporations Code 28603 – No licensee shall sell all or substantially all of its business to …
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No licensee shall sell all or substantially all of its business to any other person unless the other person is a licensee and the sale is first approved by the commissioner.
(Added by Stats. 1998, Ch. 668, Sec. 3. Effective January 1, 1999. Operative July 1, 1999, by Sec. 4 of Ch. 668.)
Terms Used In California Corporations Code 28603
- Person: includes a corporation as well as a natural person. See California Corporations Code 18