California Code of Regulations
Title 10 - Investment
Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions
Subchapter 50 - Business and Industrial Development Corporations
Article 1 - General Provisions
Subarticle 1 - Citation and Construction
Section 50.7 - Responsibility for Filing Reports

Whenever any provision of this Subchapter requires that a licensee and another person (for example, a director, officer, employee, or affiliate of such licensee) file with the Commissioner a report regarding a matter, it will be sufficient if either (a) the licensee or (b) such other person files such report, so long as the report contains all the information required by such provision. In the case of such a provision, however, the licensee and the other person are each responsible for filing the report, and neither will be excused from such responsibility by the failure of the other to comply.

1. Change without regulatory effect amending section and adding new NOTE filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).

Note: Authority cited: Section 31101, Financial Code.