It shall be unlawful for any licensee, directly or indirectly, to sell or otherwise transfer any of its assets to any of its associates.
Cal. Fin. Code § 31829
Conflicts of Interest
Known as the Business and Industrial Development Corporations Law
The act spans §§ 31000–31952 (132 sections).
Added by Stats. 1977, Ch. 1164.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.