What happens to a license if notice is not given within 30 days after the death or disassociation of a partner?

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Prepare for the California QM Exam. Study with interactive flashcards and multiple-choice questions, each with detailed explanations. Get ready to succeed!

If notice is not provided within 30 days following the death or disassociation of a partner, the license is subject to cancellation after a 90-day period. This reflects the regulatory requirement to maintain updated information about the individuals associated with a licensed entity in California. The failure to notify relevant authorities within the specified timeframe indicates a lack of compliance, thus triggering the cancellation process for the license. This provision ensures that licenses remain current and that only eligible individuals are operating under them, which is crucial for maintaining standards of practice within the industry.

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