Business ProfileforPetro Vicart Inc

Complainant provided notice of this requirement to Respondent – via email to the Designated Email Address provided by each CFL licensee on July 20, 2021, September 16, 2021, October 14, 2021, November 8, 2021 and December 16, 2021. Complainant also provided notice via email to each CFL licensee that had not yet transitioned to NMLS, including Respondent, on March 7, 2022, and again via email and mail on March 28, 2022. Complainant provided further notice of this requirement over the telephone – Complainant made at least two calls to the designated telephone number provided by each CFL licensee, including Respondent – between February 1 and March 15, 2022. 

Complainant determined that Respondent was in violation of Regulation 1422.4 and had not transitioned management of its CFL license to NMLS as of July 29, 2022. Accordingly, Complainant issued a Citation on that date pursuant to Financial Code section 22707.5, subdivision (a). The Citation included an order to correct the violation and an order to pay an administrative fine in the amount of $2,500.00 to the Commissioner by September 27, 2022. 

Complainant served the Citation on Respondent via certified mail on July 29, 2022 and by electronic mail at Respondent’s Designated Email Address on July 29, 2022.  To date, Respondent has neither complied with the order to correct the violation by transitioning its license to NMLS nor paid the administrative fine. 

Pursuant to subsection (a)(1) of Section 22714, the California Financing Law license of Respondent Petro Vicart Inc. be revoked due to the lengthy duration of the violations identified above and Respondent’s failure to comply with the Citation.