DBO Has Very Few Precedents

The California Administrative Procedure Act provides that an agency's decision in an adjudicative proceeding "may not be expressly relied on as precedent unless it is designated as a precedent decision by the agency".  Cal. Govt. Code § 11425.60(a). To qualify as precedent, a decision or part of a decision must contain "a significant legal or policy determination of general application that is likely to recur". Cal. Govt. Code § 11425.60(b).  If you disagree with an agency's designation of a decision or failure to designate, do not look to the courts for help.  The statute provides that these decisions are not subject to judicial review.  Id.

The Department of Business Oversight has designated only a handful of decisions as precedents.  The DBO's website states that there are six but then lists eight.  The most recent designated decision was issued more than a decade ago - in 2005.  The decisions relate to several different laws enforced by the DBO, including the Corporate Securities Law of 1968, the Escrow Law, the Franchise Investment Law, and California Financing Law (fka Finance Lenders Law).

Finally, visitors to the DBO's website should note that the statute is not accurately displayed.