Business and Professions Code section 7503.9

(a)

Except as provided in this section, a repossession agency license issued under this chapter is not assignable.

(b)

A repossession agency may apply to the chief for consent and, upon receipt of the consent and payment of the processing fee authorized by Section 7511, may assign a license to another business entity as long as the direct and indirect owners of the assignor own all of the assignee immediately after the assignment.