California Code, Financial Code - FIN § 2125

(1) Within 90 days of compliance with this subdivision, the commissioner may issue a notice of disapproval of a key individual if the competence, experience, character, or integrity of the individual supports a determination by the commissioner that it is not in the best interests of the public or the licensee's customers to permit the individual to be a key individual of the licensee.

(2) If the notice provided pursuant to this subdivision is not disapproved within 90 days after the date on which the notice was provided, the key individual shall be deemed approved.  This timeframe does not apply to applications filed pursuant to Section 2035.