(a) A licensee shall notify the bureau within 30 days of any change in its corporate officers required to be named pursuant to subdivision (h) of Section 7525.1, and of any addition of a new partner.
(b) Applications, on forms prescribed by the director, shall be submitted by all new officers and partners. The director may suspend or revoke a license issued under this chapter if the director determines that the new officer or partner of a licensee has committed any of the acts constituting grounds to deny an application for a license or to take disciplinary action against a licensee pursuant to Section 7538 or 7538.5, respectively.
(c) This section shall become operative on January 1, 2021.
(Amended (as added by Stats. 2016, Ch. 800, Sec. 13) by Stats. 2017, Ch. 569, Sec. 22. (SB 559) Effective January 1, 2018. Section operative January 1, 2021, by its own provisions.)
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