The commissioner may by order require a licensee to write down any asset on its books and records to a valuation which represents its then value.
Cal. Fin. Code § 31503
Records, Reports, and Examinations
Known as the Business and Industrial Development Corporations Law
The act spans §§ 31000–31952 (132 sections).
Amended by Stats. 1996, Ch. 1064, Sec. 663
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.