LawWiki
HomeCodesSearchGlossaryAPIAbout
LawWiki

Plain English summaries of California law with zero-hallucination AI. Every summary is verified against official source text.

Product

  • Search
  • Codes
  • About

Legal

  • Privacy Policy
  • Terms of Service
  • Disclaimer

© 2026 LawWiki. All rights reserved.

HomeFood and Agricultural CodeDiv. 20Ch. 7Art. 6§ 56253 Licensee Financial Statement Requirements

§ 56253 Licensee Financial Statement Requirements

Food and Agricultural Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 56253 Licensee Financial Statement Requirements

Key Takeaways

  • •If you have a license, you might have to show a money report to prove you're doing okay financially.
  • •This money report must be honest and correct. If you lie, you can get in big trouble.
  • •If you don't send the money report when asked, you could lose your license.

Example

You own a small restaurant and have a license to sell food. The government asks you to send a report showing how much money your restaurant makes and spends.

You have to send this report truthfully. If you don't send it, or if you lie on it, the government can take away your restaurant license, and you won't be allowed to sell food anymore.

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

Official Source
View on CA.gov

§ 56253 Licensee Financial Statement Requirements

The secretary may require a licensee to file a balance sheet or statement of financial position that presents fairly the financial condition of such licensee. Such financial statement, if not prepared by a public accountant or certified public accountant, shall be on a form prescribed by the secretary and shall be submitted under penalty of perjury. Any balance sheet submitted that does not provide the information required by the secretary shall not meet the requirements of this section. Failure of a licensee to file a financial statement pursuant to this section shall be sufficient grounds for license revocation. (Amended by Stats. 1996, Ch. 620, Sec. 16. Effective January 1, 1997.)

Last verified: January 23, 2026

Key Terms

penaltyportsecretarylicensestatementthe californiasituationposition

Related Statutes

  • § 55523.4 Financial Condition Reporting Requirement
  • § 69035 Commission Vacancy Filling Rules
  • § 19227 Rendering Industry Fees
  • § 67104 Handler Data Confidentiality
  • § 71124 Producer Data Confidentiality

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Food and Agricultural Code. Section 56253.
View Official Source