The California Corporation Commission
The State of California Corporation Commission is a state authority with the duty to oversee functions within the department of corporations DOC. The Corporate Commission frames policies for its proper functioning and procedures.
The Corporate Commissioner, is also the CEO. The Commissioner heads the commission. The Commissioner is assisted by a team of officers who advise with daily financial and administrative operations. There is also a public relations officer (PRO)who coordinates the activities of all of the departments in the commission.
The basic function of the commission is to inform and educate the general public on important financial and investment issues within the state government. In addition, the commission is also equipped with powers to enforce laws to protect innocent business people. For this, it has an enforcement division, which investigates the irregularities and other acts of omission and commission and brings the defaulters to book through the process of litigation.
There may be situations when in order to evade state taxes, people may not procure a business licenses. The commission investigates known cases and takes action. There may even be licensed corporations that violate the state's laws. The corporate commission takes action, and in case of serious offences the CCC may file cases in court. There may be additional violations and fraudulent activities. The commission refers cases like these to the District Attorney's Office for prosecution.
The California Corporate Commission is vested with certain power to stop violations of the law. Yet, it does not have the power of the court of law. The CCC can only report cases to the court, and cannot act on behalf of fraud vicitms. However, the commission does cooperate with victim's attorneys by providing facts and figures. This goes a long way in helping them get back their money. It should, however, be clear that the investor has to find his legal resources to get the refunds. In addition, the commission conducts its investigations secrectly and the complaints will not be made public.