Section 4422 - Application(a) A person applying for a license as a professional fiduciary shall submit an application for licensure to the Bureau and pay the application fee required in Section 4580.(b) An application for licensure shall require the applicant to meet the qualifications of Section 6533 of the Business and Professions Code and, in addition, provide the following information:(1) For a determination of compliance with the education requirements under subdivision (f) of Section 6533, if applicable, the applicant shall provide the names of the universities or colleges, the dates of graduation, and the applicable degrees awarded.(2) For a determination of compliance with the experience requirements under subdivision (f) of Section 6533, if applicable, the applicant shall provide information regarding the qualifying substantive fiduciary responsibilities, including type and dates of experience, and contact information for three references, and shall provide consent for the Bureau to contact the references for verification of specified experience.(3) The applicant's physical business address, telephone number, and facsimile number.(4) The applicant's designated address of record for public information.(5) A list of any license or professional certificate ever held by the applicant, including information regarding the type, state/country, license or certificate number, date issued, status, and whether the license or certificate has been subject to disciplinary action, including revocation or suspension. The applicant may attach a statement of explanation.(6) Whether the applicant has filed for bankruptcy within the last ten (10) years or held a controlling financial interest in a business when that business filed for bankruptcy within the last ten (10) years, as required by paragraph (7) of subdivision (a) of Section 6534, and the date of the bankruptcy filing. The applicant may attach a statement of explanation.(7) Whether the applicant has ever been convicted of a crime. The applicant may attach a statement of explanation.(8) Whether the applicant has ever been found by a court to have breached a fiduciary duty, the date, case name, court location, and case number associated with each breach of fiduciary duty. The applicant shall submit a record of the court findings and orders related to each specific case. The applicant may file an additional statement of the issues and facts pertaining to each case.(9) Whether the applicant has ever been removed as a fiduciary by a court for breach of trust, the date, case name, court location, and case number associated with each removal. Whether all related appeals have been taken or the time to file an appeal has expired. The applicant shall submit a record of the court findings and orders related to each specific case. The applicant may file an additional statement of the issues and facts pertaining to each case.(10) Whether the applicant has ever resigned as a fiduciary in a matter in which a complaint has been filed with the court, the date the complaint was filed, the date of the resignation, case name, court location, and case number associated with each resignation, and a statement of the issues and facts pertaining to each allegation. The applicant shall submit a record of the court findings and orders related to each specific case.(11) Whether the applicant has ever settled as a fiduciary in a matter in which a complaint has been filed with the court, the date the complaint was filed, the date of the settlement, case name, court location, and case number associated with each settlement, and a statement of the issues and facts pertaining to each allegation. The applicant shall submit a record of the court findings and orders related to each specific case.(c) As used in this section "complaint" means a civil complaint, a petition, motion, objection, or other pleading filed with the court against the applicant alleging the applicant has not properly performed the duties of a fiduciary.Cal. Code Regs. Tit. 16, § 4422
1. New section filed 11-26-2007 as an emergency; operative 11-26-2007 (Register 2007, No. 48). A Certificate of Compliance must be transmitted to OAL by 5-27-2008 or emergency language will be repealed by operation of law on the following day.
2. Certificate of Compliance as to 11-26-2007 order, including amendment of subsections (b)(5)-(7) and (b)(10)-(11) and new subsection (c), transmitted to OAL 5-28-2008 and filed 6-16-2008 (Register 2008, No. 25).
3. Amendment of subsection (c) filed 5-17-2012; operative 6-16-2012 (Register 2012, No. 20).
4. Change without regulatory effect amending subsections (b)(1) and (b)(2) filed 3-19-2018 pursuant to section 100, title 1, California Code of Regulations (Register 2018, No. 12).
5. Change without regulatory effect amending NOTE filed 3-29-2021 pursuant to section 100, title 1, California Code of Regulations (Register 2021, No. 14). (Filing deadline specified in Government Code section 11349.3(a) extended 60 calendar days pursuant to Executive Order N-40-20.) Note: Authority cited: Section 6517, Business and Professions Code. Reference: Sections 115.4, 115.5, 135.4, 141, 480, 481, 490, 6533, 6534, 6536, 6538, 6539 and 6561, Business and Professions Code.
1. New section filed 11-26-2007 as an emergency; operative 11-26-2007 (Register 2007, No. 48). A Certificate of Compliance must be transmitted to OAL by 5-27-2008 or emergency language will be repealed by operation of law on the following day.
2. Certificate of Compliance as to 11-26-2007 order, including amendment of subsections (b)(5)-(7) and (b)(10)-(11) and new subsection (c), transmitted to OAL 5-28-2008 and filed 6-16-2008 (Register 2008, No. 25).
3. Amendment of subsection (c) filed 5-17-2012; operative 6-16-2012 (Register 2012, No. 20).
4. Change without regulatory effect amending subsections (b)(1) and (b)(2) filed 3-19-2018 pursuant to section 100, title 1, California Code of Regulations (Register 2018, No. 12).
5. Change without regulatory effect amending Note filed 3-29-2021 pursuant to section 100, title 1, California Code of Regulations (Register 2021, No. 14). (Filing deadline specified in Government Code section 11349.3(a) extended 60 calendar days pursuant to Executive Order N-40-20.)