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.

HomeFinancial CodeDiv. 14Ch. 3§ 30604 Show Cause Order Finality

§ 30604 Show Cause Order Finality

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 30604 Show Cause Order Finality

Key Takeaways

  • •If a place that holds stocks or investments is breaking rules or doing unsafe things, the boss (commissioner) can tell them to stop.
  • •The place gets a chance to explain why they shouldn’t be punished before the boss makes a final decision.
  • •If the boss decides they’re really doing bad stuff, they have to stop right away.

Example

A bank that holds people’s stocks starts gambling with the money instead of keeping it safe.

The boss (commissioner) can tell the bank to come to a meeting and explain why they shouldn’t be punished. If the boss finds out the bank is really doing bad things, they can order the bank to stop immediately.

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

Official Source
View on CA.gov

§ 30604 Show Cause Order Finality

An order issued pursuant to Section 30601 or 30603 shall require the licensed securities depository to show cause before the commissioner, at a time fixed by the commissioner, why the order should not be observed. If upon the hearing, it appears to the commissioner that the licensed securities depository is conducting business in an unsafe or injurious manner or is violating its articles of incorporation or any law of this state, or any rule binding upon it, the commissioner shall make the order of discontinuance final and the licensed securities depository shall immediately discontinue the practices named in the order. (Added by Stats. 1972, Ch. 1057.)

Last verified: January 23, 2026

Key Terms

commissioncorporationhearingsecuritiesstocklicensediscontinuance

Related Statutes

  • § 30601 Securities Depository Violations
  • § 30603 Unsafe Securities Depository Practices
  • § 30602 Securities Depository Reporting Penalties
  • § 30606 License Revocation Enforcement
  • § 30200 Securities Depository Licensing

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 30604.
View Official Source