Cecilia Aguiar-Curry
- Democratic
- Assemblymember
- District 4
Author
(1) Existing law, the California Finance Lenders Law, provides for the licensure and regulation of finance lenders and brokers by the Commissioner of Business Oversight. Existing law requires each finance lender and broker licensee to file an annual report with the commissioner giving relevant information concerning the business and operations conducted by the licensee within the state during the preceding calendar year for each licensed place of business. Existing law authorizes the commissioner to, by order, summarily suspend or revoke the license of any licensee if that person fails to file that report within 10 days after notice by the commissioner that the report is due and not filed. This bill would authorize the commissioner, except in certain circumstances, to impose, by order, a penalty on any licensee who fails to either provide the commissioner with any report required by law or any material information required by the commissioner to be included in a report. The bill would prohibit the penalty from exceeding $100 for each business day the report or information is overdue for the first 5 business days and thereafter from exceeding $500 for each day the report or information is overdue, not to exceed $25,000 in the aggregate. The bill would specify the due date for these penalties under specified circumstances. The bill would authorize a licensee ordered to pay the penalty to request in writing a hearing to challenge that order and would require that hearing to be held under specified administrative proceedings. (2) Existing law, the California Deferred Deposit Transaction Law, requires each licensee to file a specified annual report with the Commissioner of Business Oversight and requires the report to be kept confidential. Existing law requires the annual consolidated report to be prepared by the commissioner and made available to the public. This bill would instead require those annual reports to be made available to the public for inspection, except as specified, and would also require the reports to include any other information reasonably required by the commissioner. (3) Existing constitutional provisions require that a statute that limits the right of access to the meetings of public bodies or the writings of public officials and agencies be adopted with findings demonstrating the interest protected by the limitation and the need for protecting that interest. This bill would make legislative findings to that effect.
Approved by the Governor.
Chaptered by Secretary of State - Chapter 329, Statutes of 2017.
Enrolled and presented to the Governor at 4 p.m.
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 66. Noes 7. Page 3025.).
In Assembly. Concurrence in Senate amendments pending. May be considered on or after September 7 pursuant to Assembly Rule 77.
Read third time. Passed. Ordered to the Assembly. (Ayes 31. Noes 9. Page 2476.).
Read second time. Ordered to third reading.
From committee: Be ordered to second reading pursuant to Senate Rule 28.8.
Read second time and amended. Re-referred to Com. on APPR.
From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 8. Noes 1.) (July 12).
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on RLS.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 73. Noes 0. Page 1790.)
Read second time. Ordered to third reading.
Coauthors revised.
From committee: Do pass. (Ayes 17. Noes 0.) (May 10).
From committee: Do pass and re-refer to Com. on APPR. (Ayes 10. Noes 0.) (April 24). Re-referred to Com. on APPR.
In committee: Hearing postponed by committee.
In committee: Hearing postponed by committee.
From printer. May be heard in committee March 21.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB1636 | HTML |
| 02/17/17 - Introduced | |
| 06/21/17 - Amended Senate | |
| 07/19/17 - Amended Senate | |
| 09/08/17 - Enrolled | |
| 09/27/17 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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