DBO Filing Procedures Set To Change Big Time

When I joined the Department of Corporations, it had no website and filings were made only in hard copy.  In the ensuing years, the Department (now known as the Department of Business Oversight) created a website, established system for filing notices of exemption under Section 25102(f) online, and provided online access to securities and franchise filings.  See California’s Big EASI.

Online filings and internet access to those filings will change at 12:00 p.m. on June 18 when the Department rolls out DOCQNET (Document Quality Network).  According to the Department,

Beginning at 12 pm on June 18, 2014, securities permit applications  and exemption notices filed pursuant to the Corporate Securities Law of 1968  and franchise applications and exemption notices filed under the Franchise  Investment Law may be filed and paid for online using the DOCQNET self-service  portal.

DOCQNET will replace the current electronic 25102(f) Limited  Offering Exemption Notice (LOEN) filing system and the California Electronic  Access to Securities Information and Franchise Information (Cal-EASI) portal.  Information currently available using the Cal-EASI database (including LOEN  filings) will still be accessible and available using DOCQNET.

In addition to securities and franchise filings, applicants will be able to submit applications for licensure under the California Finance Lenders Law, California Deferred  Deposit Transaction Law, and Escrow LawLicensees under these laws will be able to submit their annual report information online and update contact information.  Companies and individuals licensed under the California Residential Mortgage Lending Act, California Finance Lenders that make residential loans, and Mortgage Loan Originators will continue to use the Nationwide Mortgage Licensing System (NMLS).


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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