§ 19904 Gambling License Transfer Approval

Business and Professions Code·California

AI SummaryVerified

Key Takeaways

•You can't sell or give away any part of a business that has a gambling license without asking the commission first.
•This includes things like shares, ownership parts, or even just the right to buy them later.
•If you do it without approval, it doesn’t count—it’s like it never happened.

Example

If you own a small part of a casino and want to sell it to your friend

You have to get permission from the gambling commission first. If you sell it without asking, the sale is invalid, and your friend won’t legally own it.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 19904 Gambling License Transfer Approval

The purported sale, assignment, transfer, pledge, or other disposition of any security issued by a corporation, membership interest of a limited liability company, or ownership interest of a partnership or sole proprietor that holds a gambling license, or the grant of an option to purchase that interest or security, is void unless approved in advance by the commission. (Amended by Stats. 2023, Ch. 302, Sec. 6. (AB 1271) Effective January 1, 2024.)

Last verified: January 22, 2026

Key Terms

sale transfer disposition security ownership interest gambling license commission

References

Official text at leginfo.legislature.ca.gov
California Legislature. Business and Professions Code. Section 19904.

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Key Takeaways

Example

Key Terms

Related Statutes

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