Jose Medina
- Democratic
Author
(1) Existing law permits a pawnbroker to charge a loan setup fee of the greater of $5 or 3% of the loan amount, not to exceed $30. This bill would adjust the permitted loan setup fee to the greater of either $7.50 or 3.5% of the loan amount, not to exceed $90. (2) Existing law permits a pawnbroker to collect a handling and storage charge for pawned articles at the time property is redeemed or a replacement loan is issued. Existing law establishes the maximum amount that may be charged based on the size of pawned articles, as specified. This bill would increase the permitted handling and storage charges depending on the size of the pawned articles, as specified. (3) Existing law permits a pawnbroker to impose a processing charge in the amount of $4 for each pawned firearm. This bill would increase the processing charge to $20 for each pawned firearm. (4) Existing law permits a pawnbroker to charge a fee in the amount of up to $3 for preparing a 10-day notice when a pledged item is not redeemed during the loan period. This bill would increase that maximum noticing fee to up to $5. (5) Existing law requires pawnbrokers to provide written notice to a pledgor when a pledged item is not redeemed during the loan period and extends the pledgor's right of redemption 10 days from the date of the notice. Under existing law, the pawnbroker becomes vested with all right, title, and interest to the pledged article upon the expiration of the 10-day notice period. This bill would make nonsubstantive changes to those provisions.
Chaptered by Secretary of State - Chapter 189, Statutes of 2019.
Approved by the Governor.
Enrolled and presented to the Governor at 3:30 p.m.
In Assembly. Ordered to Engrossing and Enrolling.
Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 2136.).
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 9. Noes 0.) (June 25).
From committee: Do pass and re-refer to Com. on JUD. (Ayes 7. Noes 0.) (June 5). Re-referred to Com. on JUD.
Read third time. Passed. Ordered to the Senate. (Ayes 72. Noes 0. Page 1076.)
In Senate. Read first time. To Com. on RLS. for assignment.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 12. Noes 0.) (April 1).
From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.
From printer. May be heard in committee March 24.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB1186 | HTML |
| 02/21/19 - Introduced | |
| 03/21/19 - Amended Assembly | |
| 08/14/19 - Enrolled | |
| 08/30/19 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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