Tony Mendoza
- Democratic
Author
(1) Existing law regulates pawnbrokers and requires a written contract for every loan by a pawnbroker for which goods are received in pledge as security, as specified, and requires a copy of that contract to be furnished to the borrower. Existing law requires the contract to provide a 4-month loan period. This bill would, instead, specify that the contract be for a minimum of 4 months. (2) Existing law requires a pawnbroker, within one month after the loan period expires, to notify the borrower at his or her last known address of the termination of the loan period, by a means for which verification of mailing or delivery of the notification can be provided by the pawnbroker, and provides for extending the right of redemption for a period of 10 days from the date that notice is mailed. This bill would instead require the pawnbroker to provide that notification to the pledgor at his or her last known mailing or electronic address, by a means for which verification of mailing or, at the sole option of the pledgor, electronic transmission of the notification can be provided by the pawnbroker, as specified. The bill would provide that the electronic notice of the termination of the loan period would be valid only if the pledgor has previously responded to an electronic communication sent by the pawnbroker to the pledgor's last known electronic address and would require the pledgor to affirm the electronic address on file, as prescribed. (3) Existing law permits a pledgor and a pawnbroker to agree to a new loan to become effective at the end of the loan period and requires the new loan to be processed as a new loan subject to loan origination, storage, and other fees as specified. This bill would permit a replacement loan to be issued at the request of the pledgor with consent of the pawnbroker before the expiration of the redemption period, to become effective on the date it is issued, subject to specified requirements, including, but not limited to, that the pledgor pay off all outstanding charges from the prior loan then due before a replacement loan may be issued. The bill would also permit the replacement loan to be issued electronically, provided that the contract and transaction comply with the Uniform Electronic Transactions Act and meet certain disclosure requirements.
Chaptered by Secretary of State. Chapter 417, Statutes of 2015.
Approved by the Governor.
Enrolled and presented to the Governor at 10:45 p.m.
Assembly amendments concurred in. (Ayes 40. Noes 0. Page 2663.) Ordered to engrossing and enrolling.
Read third time. Passed. (Ayes 78. Noes 0. Page 2965.) Ordered to the Senate.
In Senate. Concurrence in Assembly amendments pending.
Ordered to third reading.
Read third time and amended.
Ordered to third reading.
From inactive file.
Notice of intention to remove from inactive file given by Assembly Member Holden.
Ordered to inactive file on request of Assembly Member Cristina Garcia.
Ordered to third reading.
From consent calendar on motion of Assembly Member Waldron.
Read second time. Ordered to consent calendar.
Read second time and amended. Ordered to second reading.
From committee: Do pass as amended. Ordered to consent calendar. (Ayes 16. Noes 0.) (July 15).
From committee: Do pass and re-refer to Com. on APPR. (Ayes 11. Noes 0.) (July 7). Re-referred to Com. on APPR.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on P. & C.P.
From committee: Do pass and re-refer to Com. on P. & C.P. (Ayes 12. Noes 0.) (June 22). Re-referred to Com. on P. & C.P.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.
Referred to Coms. on B. & F. and P. & C.P.
In Assembly. Read first time. Held at Desk.
Read third time. Passed. (Ayes 39. Noes 0. Page 1065.) Ordered to the Assembly.
Read second time. Ordered to third reading.
From committee: Be ordered to second reading pursuant to Senate Rule 28.8.
Set for hearing May 18.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on APPR.
Read second time and amended. Re-referred to Com. on APPR.
From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 7. Noes 0. Page 728.) (April 21).
Set for hearing April 21.
From committee: Do pass and re-refer to Com. on JUD. (Ayes 7. Noes 0. Page 617.) (April 15). Re-referred to Com. on JUD.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.I.
Set for hearing April 15.
From printer. May be acted upon on or after March 26.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB300 | HTML |
| 02/23/15 - Introduced | |
| 03/26/15 - Amended Senate | |
| 04/30/15 - Amended Senate | |
| 05/05/15 - Amended Senate | |
| 06/11/15 - Amended Assembly | |
| 07/02/15 - Amended Assembly | |
| 07/16/15 - Amended Assembly | |
| 09/04/15 - Amended Assembly | |
| 09/10/15 - Enrolled | |
| 10/01/15 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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