California Financial Code 3401 – For the purpose of this chapter, “enforcement measure” means an …
For the purpose of this chapter, “enforcement measure” means an action that includes, but is not limited to, all of the following:
(a) Suspend or revoke a license under this division.
Terms Used In California Financial Code 3401
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Person: includes any person, firm, partnership, association, corporation, company, limited liability company, syndicate, estate, trust, business trust, or organization of any kind. See California Financial Code 18
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
(b) Order a person to cease and desist from doing digital financial asset business activity with, or on behalf of, a resident.
(c) Request the court to appoint a receiver for the assets of a person doing digital financial asset business activity with, or on behalf of, a resident.
(d) Request the court to issue temporary, preliminary, or permanent injunctive relief against a person doing digital financial asset business activity with, or on behalf of, a resident.
(e) Assess a penalty under Section 3407.
(f) Recover on the security under Section 3207 and initiate a plan to distribute the proceeds for the benefit of a resident injured by a violation of this division, or law of this state other than this division that applies to digital financial asset business activity with, or on behalf of, a resident.
(g) Impose necessary or appropriate conditions on the conduct of digital financial asset business activity with, or on behalf of, a resident.
(h) Seek restitution on behalf of a resident if the department shows economic injury due to a violation of this division.
(Added by Stats. 2023, Ch. 792, Sec. 1. (AB 39) Effective January 1, 2024.)