§ 30206 License Denial Criteria

• •The government can say no to giving a business license if the people running the business seem untrustworthy or don’t know what they’re doing.
• •If the business doesn’t have a good plan to keep customers’ money and investments safe, they won’t get a license.
• •The business must follow rules about who can own parts of the company. If they don’t, no license.
• •If the business is running out of money or might go broke soon, they won’t get a license.

A group of people wants to start a bank to hold and invest other people’s money.

If the people starting the bank have been caught stealing before, or if they don’t have a safe way to protect the money people give them, the government will say no to their bank. They also won’t get a license if they don’t have enough money to run the bank properly or if they’re about to go broke.