reglab/statecodes huggingface dataset:
2023 California Code › Financial Code - FIN › DIVISION 9.5 - Commercial Financing Disclosures › Section 22804.

22804. (a) The commissioner shall adopt regulations governing the disclosures described in paragraphs (1) to (5), inclusive, of subdivision (b) of Section 22802 and subdivisions (a) to (e), inclusive, of Section 22803. Those regulations shall include all of the following:
(1) Definitions, contents, or methods of calculations for each of the disclosure items set forth in each applicable paragraph of subdivision (b) of Section 22802 and subdivisions (a) to (f), inclusive, of Section 22803.
(2) Requirements concerning the time, manner, and format of the applicable disclosures described in subdivision (b) of Section 22802 and subdivisions (a) to (f), inclusive, of Section 22803.
(b) The commissioner shall adopt regulations concerning the annualized rate disclosure described in paragraph (6) of subdivision (b) of Section 22802 and subdivision (f) of Section 22803. Those regulations shall include all of the following:
(1) A determination of the appropriate method to express the annualized rate disclosure and the types of fees and charges to be included in that calculation.
(2) When providers shall be permitted to disclose an estimated annualized rate, and how that estimate shall be calculated. The method of calculation determined by this paragraph shall specify the accuracy requirements and tolerance allowances for the calculation, and the types of fees and charges to be included in the calculation.
(3) Requirements concerning the time, manner, and format of the disclosure.
(c) A provider shall not be required to comply with the disclosure requirements of this division until the final regulations are adopted by the commissioner pursuant to this section and become effective on the applicable date described in Section 11343.4 of the Government Code.
(Amended by Stats. 2023, Ch. 376, Sec. 5. (SB 33) Effective January 1, 2024.)
2023 California Code › Financial Code - FIN › DIVISION 9.5 - Commercial Financing Disclosures › Section 22805.

22805. Any provider licensed under the California Financing Law (Division 9 (commencing with Section 22000)) as of the date that the final regulations adopted by the commissioner pursuant to Section 22804 become effective and from that point thereafter, shall be subject to examination and enforcement by the commissioner under California Financing Law (Division 9 (commencing with Section 22000)) for any violation of this division or any rule or order adopted pursuant to this division.
(Added by Stats. 2018, Ch. 1011, Sec. 2. (SB 1235) Effective January 1, 2019.)
2023 California Code › Financial Code - FIN › DIVISION 9.5 - Commercial Financing Disclosures › Section 22806.

22806. No provision of this division imposes any liability on a provider as a result of the actual Annual Percentage Rate (APR) charged by a provider differing from the Estimated APR disclosed in conformity with any regulation, order, or written interpretive opinion of the commissioner or any such opinion of the Attorney General, whether or not such regulation, order, or written interpretive opinion is later amended, rescinded, or repealed or determined by judicial or other authority to be invalid for any reason.
(Added by Stats. 2023, Ch. 376, Sec. 6. (SB 33) Effective January 1, 2024.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 1 - Construction and Definitions › Section 23000.

23000. This division shall be known and may be cited as the “California Deferred Deposit Transaction Law.”
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 1 - Construction and Definitions › Section 23001.

23001. As used in this division, the following terms have the following meanings:
(a) “Deferred deposit transaction” means a transaction whereby a person defers depositing a customer’s personal check until a specific date, pursuant to a written agreement for a fee or other charge, as provided in Section 23035.
(b) “Commissioner” means the Commissioner of Financial Protection and Innovation.
(c) “Department” means the Department of Financial Protection and Innovation.
(d) “Licensee” means any person who offers, originates, or makes a deferred deposit transaction, who arranges a deferred deposit transaction for a deferred deposit originator, who acts as an agent for a deferred deposit originator, or who assists a deferred deposit originator in the origination of a deferred deposit transaction. However, “licensee” does not include a state or federally chartered bank, thrift, savings association, industrial loan company, or credit union. “Licensee” also does not include a retail seller engaged primarily in the business of selling consumer goods, including consumables, to retail buyers that cashes checks or issues money orders for a minimum fee not exceeding two dollars ($2) as a service to its customers that is incidental to its main purpose or business. “Licensee” also does not include an employee regularly employed by a licensee at the licensee’s place of business. An employee, when acting under the scope of the employee’s employment, shall be exempt from any other law from which the employee’s employer is exempt.
(e) “Person” means an individual, a corporation, a partnership, a limited liability company, a joint venture, an association, a joint stock company, a trust, an unincorporated organization, a government entity, or a political subdivision of a government entity.
(f) “Deferred deposit originator” means a person who offers, originates, or makes a deferred deposit transaction.
(Amended by Stats. 2022, Ch. 452, Sec. 143. (SB 1498) Effective January 1, 2023.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 2 - Licensing and Exemptions › Section 23006.

23006. At the time of filing the application, the applicant shall pay to the commissioner the sum of one hundred dollars ($100) as a fee for investigating the application, the sum of two hundred dollars ($200) as an application fee, and the cost of fingerprint processing. The investigation fee and application fee are not refundable if an application is denied or withdrawn.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 2 - Licensing and Exemptions › Section 23007.

23007. The applicant shall file with the application financial statements prepared in accordance with generally accepted accounting principles and acceptable to the commissioner that indicate a net worth of at least twenty-five thousand dollars ($25,000). A licensee, regardless of the number of licensed locations, shall maintain a net worth of at least twenty-five thousand dollars ($25,000) at all times.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 2 - Licensing and Exemptions › Section 23008.

23008. Upon the filing of an application pursuant to Section 23005 and the payment of fees pursuant to Section 23006, the commissioner shall investigate the applicant, and its general partners and persons owning or controlling, directly or indirectly, 10 percent or more of the outstanding interests if the applicant is a partnership. If the applicant is a corporation, trust, or association, including an unincorporated organization, the commissioner shall investigate its officers, directors, and persons owning or controlling, directly or indirectly, 10 percent or more of the outstanding equity securities. If the commissioner determines that the applicant has satisfied this division and does not find facts constituting reasons for denial under Section 23011, the commissioner shall issue and deliver a license to the applicant.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 2 - Licensing and Exemptions › Section 23009.

23009. The license shall state the name of the licensee, and if the licensee is a partnership, the names of its general partners, and if a corporation or an association, the date and place of its incorporation or organization, and the address of the licensee’s principal business location. On the approval and licensing of a location pursuant to Section 23008, the commissioner shall issue an original license endorsed to show the address of the authorized location.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 2 - Licensing and Exemptions › Section 23010.

23010. The commissioner may by regulation require licensees to file, at the times that the commissioner may specify, the information that the commissioner may reasonably require regarding any changes in the information provided in any application filed pursuant to this division.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 2 - Licensing and Exemptions › Section 23011.

23011. (a) Upon reasonable notice and the opportunity to be heard, the commissioner may deny the application for any of the following reasons:
(1) Any false statement of material fact has been made in the application.
(2) Any officer, director, general partner, or person owning or controlling, directly or indirectly, 10 percent or more of the outstanding interests or equity securities of the applicant has, within the last 10 years (A) been convicted of or pleaded nolo contendere to a crime, or (B) committed any act involving dishonesty, fraud, or deceit, if the crime or act is substantially related to the qualifications, functions, or duties of a person engaged in business in accordance with this division.
(3) The applicant or any officer, director, or general partner, or person owning or controlling, directly or indirectly, 10 percent or more of the outstanding interests or equity securities of the applicant has violated any provision of this division or the rules thereunder or any similar regulatory scheme of the State of California or a foreign jurisdiction.
(b) The application shall be considered withdrawn within the meaning of this section if the applicant fails to respond to a written notification of a deficiency in the application within 90 days of the date of the notification.
(c) The commissioner shall, within 60 days from the filing of a full and complete application for a license and the payment of required fees, either issue a license or file a statement of issues prepared in accordance with Chapter 5 (commencing with Section 11500) of Part 1 of Division 3 of Title 2 of the Government Code.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 2 - Licensing and Exemptions › Section 23011.5.

23011.5. (a) The commissioner may, after appropriate notice and opportunity for hearing, by order, censure or suspend for a period not exceeding 12 months, or bar from any position of employment, management, or control any deferred deposit originator, or any other person, if the commissioner finds either of the following:
(1) That the censure, suspension, or bar is in the public interest and that the person has committed or caused a violation of this division or rule or order of the commissioner, which violation was either known or should have been known by the person committing or causing it or has caused material damage to the deferred deposit originator, or to the public.
(2) That the person has been convicted of or pleaded nolo contendere to any crime, or has been held liable in any civil action by final judgment, or any administrative judgment by any public agency, if that crime or civil or administrative judgment involved any offense involving dishonesty, fraud, or deceit, or any other offense reasonably related to the qualifications, functions, or duties of a person engaged in the business in accordance with the provisions of this division.
(b) Within 15 days from the date of a notice of intention to issue an order pursuant to subdivision (a), the person may request a hearing under the Administrative Procedure Act (Chapter 4.5 (commencing with Section 11400) of Division 3 of Title 2 of the Government Code). Upon receipt of a request, the matter shall be set for hearing to commence within 30 days after such receipt unless the person subject to this division consents to a later date. If no hearing is requested within 15 days after the mailing or service of such notice and none is ordered by the commissioner, the failure to request a hearing shall constitute a waiver of the right to a hearing.
(c) Upon receipt of a notice of intention to issue an order pursuant to this section, the person who is the subject of the proposed order is immediately prohibited from engaging in any activities subject to licensure under the law.
(d) Persons suspended or barred under this section are prohibited from participating in any business activity of a deferred deposit originator and from engaging in any business activity on the premises where a deferred deposit originator is conducting business.
(Added by Stats. 2007, Ch. 101, Sec. 24. Effective January 1, 2008.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 2 - Licensing and Exemptions › Section 23012.

23012. The proceedings for denial of a license shall be conducted in accordance with Chapter 5 (commencing with Section 11500) of Part 1 of Division 3 of Title 2 of the Government Code, and the commissioner has all the powers granted therein.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 2 - Licensing and Exemptions › Section 23013.

23013. (a) A licensee shall maintain a surety bond in accordance with this subdivision in the amount of twenty-five thousand dollars ($25,000). The bond shall be payable to the commissioner and issued by an insurer authorized to do business in this state. A copy of the bond, including any and all riders and endorsements executed subsequent to the effective date of the bond, shall be filed with the commissioner for review and approval within 10 days of execution. For licensees with multiple licensed locations, only one surety bond in the amount of twenty-five thousand dollars ($25,000) is required. The bond shall be used for the recovery of expenses, fines, and fees levied by the commissioner in accordance with this division or for losses or damages incurred by consumers as the result of a licensee’s noncompliance with the requirements of this division.
(b) When an action is commenced on a licensee’s bond, the commissioner may require the filing of a new bond. Immediately upon recovery of any action on the bond, the licensee shall file a new bond. Failure to file a new bond within 10 days of the recovery on a bond, or within 10 days after notification by the commissioner that a new bond is required, constitutes sufficient grounds for the suspension or revocation of the license.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 2 - Licensing and Exemptions › Section 23014.

23014. In any proceeding under this division, the burden of proving an exemption or exception is upon the person claiming it.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 3 - Administration and Operations › Section 23015.

23015. The commissioner may make general rules and regulations and specific rulings, demands, and findings for the enforcement of this division, in addition to, and within the general purposes of, this division.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 3 - Administration and Operations › Section 23015.5.

23015.5. (a) It is unlawful for any person to knowingly alter, destroy, mutilate, conceal, cover up, falsify, or make a false entry in any record, document, or tangible object with the intent to impede, obstruct, or influence the administration or enforcement of any provision of this division.
(b) It is unlawful for any person to knowingly make an untrue statement to the commissioner during the course of licensing, investigation, or examination, with the intent to impede, obstruct, or influence the administration or enforcement of any provision of this division.
(Added by renumbering Section 23015 (as added by Stats. 2007, Ch. 101, Sec. 25) by Stats. 2015, Ch. 303, Sec. 159. (AB 731) Effective January 1, 2016.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 3 - Administration and Operations › Section 23016.

23016. (a) Each licensee shall pay to the commissioner its pro rata share of all costs and expenses reasonably incurred in the administration of this division, as estimated by the commissioner, for the ensuing year and any deficit actually incurred or anticipated in the administration of the program in the year in which the assessment is made. The assessment will be based on the number of locations.
(b) On or before the 20th day of May in each year, the commissioner shall notify each licensee by mail of the amount assessed and levied against it and that amount shall be paid within 30 days thereafter. If payment is not made within 30 days, the commissioner may assess and collect a penalty, in addition to the assessment, of 1 percent of the assessment for each month or part of a month that the payment is delayed or withheld.
(c) If a licensee fails to pay the assessment on or before the 30th day of June following the day upon which payment is due, the commissioner may by order summarily suspend or revoke the certificate issued to the licensee. If, after an order is made, a request for hearing is filed in writing within 30 days, and a hearing is not held within 60 days thereafter, the order is deemed rescinded as of its effective date. During any period when its certificate is revoked or suspended, a licensee shall not conduct business pursuant to this division except as may be permitted by order of the commissioner. However, the revocation, suspension, or surrender of a certificate shall not affect the powers of the commissioner as provided in this division.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 3 - Administration and Operations › Section 23017.

23017. All money paid or collected under this division shall be deposited in the State Treasury to the credit of the State Corporations Fund. The administration of this division shall be supported out of the State Corporations Fund upon appropriation by the Legislature.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 3 - Administration and Operations › Section 23018.

23018. (a) A license, along with any currently effective order of the commissioner approving a different name pursuant to Section 23023, shall be conspicuously posted in the place of business authorized by the licensee.
(b) A license is not transferable or assignable. A license issued to a partnership or limited partnership is not transferred or assigned within the meaning of this section by the death, withdrawal, or admission of a partner, general partner, or limited partner, unless the death, withdrawal, or admission dissolves the partnership to which the license was issued.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 3 - Administration and Operations › Section 23019.

23019. Every licensee shall post a complete, detailed, and unambiguous schedule of fees. The information required by this section shall be clear, legible, and in letters not less than one-half inch in height. The information shall be posted in a conspicuous location in the unobstructed view of the public within the licensee’s location.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 3 - Administration and Operations › Section 23020.

23020. A licensee shall maintain only one place of business under an original or amended license issued pursuant to Section 23008. The commissioner may issue more than one license to the same licensee upon compliance with all the provisions of this division governing an original issuance of a license.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 3 - Administration and Operations › Section 23021.

23021. (a) If a licensee desires to change its place of business to a street address other than that designated in its license, the licensee shall give written notice to the commissioner at least 10 days prior to the change. The commissioner shall then provide written approval of the change and the date of the approval. A new application shall not be required for a change in the address of an existing business location previously licensed pursuant to this division.
(b) If notice is not given at least 10 days prior to the change, as required by subdivision (a), the commissioner may assess a civil penalty on the licensee not to exceed five hundred dollars ($500).
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 3 - Administration and Operations › Section 23023.

23023. No licensee shall transact the business licensed or make any transaction provided for by this division under any other name or at any other place of business than that named in the license except pursuant to a currently effective written order of the commissioner authorizing the other name or other place of business.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 3 - Administration and Operations › Section 23024.

23024. Each licensee shall keep and use books, accounts, and records that will enable the commissioner to determine if the licensee is complying with the provisions of this division and with the rules and regulations promulgated by the commissioner. Each licensee shall maintain any other records as required by the commissioner. The commissioner or a designee of the commissioner may examine those records at any reasonable time. Upon the request of the commissioner, a licensee shall file an authorization for disclosure of financial records of the licensed businesses pursuant to Section 7473 of the Government Code. All records shall be kept for two years following the last entry on a deferred deposit transaction and shall enable an examiner to review the recordkeeping and reconcile each consumer deferred deposit transaction with documentation maintained in the consumer’s deferred deposit transaction file records.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 3 - Administration and Operations › Section 23025.

23025. The department shall maintain a toll-free telephone number for deferred deposit transaction customers to make complaints and express concerns regarding the product or a specific licensee.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 3 - Administration and Operations › Section 23026.

23026. On or before March 15 of each year, beginning March 2006, each licensee shall file an annual report with the commissioner pursuant to procedures that the commissioner shall establish, giving the relevant information that the commissioner reasonably requires concerning the business and operations conducted by the licensee within the state during the preceding calendar year for each licensed place of business. The licensee’s annual reports filed pursuant to this section shall be made available to the public for inspection, except, upon request in the annual report to the commissioner, the balance sheet contained in the annual report of a sole proprietor or any other nonpublicly traded persons. “Nonpublicly traded person,” for purposes of this section, means persons with securities owned by 35 or fewer individuals. The annual consolidated report shall be prepared by the commissioner and made available to the public. For the previous calendar year, these reports shall include the following and any other information the commissioner reasonably requires:
(a) The total number and dollar amount of deferred deposit transactions made by the licensee.
(b) The total number of individual customers who entered into deferred deposit transactions.
(c) The minimum, maximum, and average amount of deferred deposit transactions.
(d) The average annual percentage rate of deferred deposits.
(e) The average number of days of deferred deposit transactions.
(f) The total number and dollar amount of returned checks.
(g) The total number and dollar amount of checks recovered.
(h) The total number and dollar amount of checks charged off.
(Amended by Stats. 2017, Ch. 329, Sec. 2. (AB 1636) Effective January 1, 2018.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 1 - General Provisions › ARTICLE 3 - Administration and Operations › Section 23027.

23027. (a) No licensee shall advertise, print, display, publish, distribute, or broadcast, or cause or permit to be advertised, printed, displayed, published, distributed or broadcast, in any manner, any statement or representation with regard to the business subject to the provisions of this division, including the rates, terms, or conditions for making or negotiating deferred deposit transactions, that is false, misleading, or deceptive, or that omits material information that is necessary to make the statements not false, misleading, or deceptive.
(b) No licensee shall place an advertisement disseminated primarily in this state for a deferred deposit transaction unless the licensee discloses in the printed text of the advertisement, or the oral text in the case of a radio or television advertisement, that the licensee is licensed by the department pursuant to this division.
(c) The commissioner may require that rates of charges or fees, if stated by the licensee, be stated fully and clearly in the manner that the commissioner deems necessary to give adequate information to, or to prevent misunderstanding by, prospective customers.
(d) No advertising copy shall be used after its use has been disapproved by the commissioner and the licensee is notified in writing of the disapproval.
(e) The commissioner may require licensees to maintain a file of all advertising copy for a period of 90 days from the date of its use. The file shall be available to the commissioner upon request.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 2 - Deferred Deposit Transactions › Section 23036.

23036. (a) A fee for a deferred deposit transaction shall not exceed 15 percent of the face amount of the check.
(b) A licensee may allow an extension of time, or a payment plan, for repayment of an existing deferred deposit transaction but may not charge any additional fee or charge of any kind in conjunction with the extension or payment plan. A licensee that complies with the provisions of this subdivision shall not be deemed to be in violation of subdivision (g) of Section 23037.
(c) A licensee shall not enter into an agreement for a deferred deposit transaction with a customer during the period of time that an earlier written agreement for a deferred deposit transaction for the same customer is in effect.
(d) A licensee who enters into a deferred deposit transaction agreement, or any assignee of that licensee, shall not be entitled to recover damages for that transaction in any action brought pursuant to, or governed by, Section 1719 of the Civil Code.
(e) A fee not to exceed fifteen dollars ($15) may be charged for the return of a dishonored check by a depositary institution in a deferred deposit transaction. A single fee charged pursuant to this subdivision is the exclusive charge for a dishonored check. No fee may be added for late payment.
(f) No amount in excess of the amounts authorized by this section shall be directly or indirectly charged by a licensee pursuant to a deferred deposit transaction.
(g) A licensee shall be subject to the provisions of Title 1.6C (commencing with Section 1788) of Part 4 of Division 3 of the Civil Code.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 2 - Deferred Deposit Transactions › Section 23037.

23037. In no case shall a licensee do any of the following:
(a) Accept or use the same check for a subsequent transaction, or permit a customer to pay off all or a portion of one deferred deposit transaction with the proceeds of another.
(b) Accept any collateral for a deferred deposit transaction.
(c) Make any deferred deposit transaction contingent on the purchase of insurance or any other goods or services.
(d) Enter into a deferred deposit transaction with a person lacking the capacity to contract.
(e) Alter the date or any other information on a check.
(f) Engage in any unfair, unlawful, or deceptive conduct, or make any statement that is likely to mislead in connection with the business of deferred deposit transactions.
(g) Accept more than one check for a single deferred deposit transaction.
(h) Take any check, instrument, or form in which blanks are left to be filled in after execution.
(i) Offer, arrange, act as an agent for, or assist a deferred deposit originator in any way in the making of a deferred deposit transaction unless the deferred deposit originator complies with all applicable federal and state laws and regulations, including the provisions of this division.
(1) The prohibition specified in this subdivision does not apply to the arranger, agent, or assistant to a state or federally chartered bank, thrift, savings association, or industrial loan company where the state or federally chartered bank, thrift, savings association, or industrial loan company satisfies all of the following:
(A)  It initially advances the loan proceeds to the customer.
(B) It does not sell, assign, or transfer a preponderant economic interest in the deferred deposit transaction to the arranger, agent, or assistant, or an affiliate or subsidiary of the state or federally chartered bank, thrift, savings association, or industrial loan company, unless selling, assigning, or transferring a preponderant economic interest is expressly permitted by the primary regulator of the state or federally chartered bank, thrift, savings association, or industrial loan company.
(C) It develops the deferred deposit transaction product or products on its own.
(2) If a licensee offers, arranges, acts as an agent for, or assists a state or federally chartered bank, thrift, savings association, or industrial loan company in any way in the making of a deferred deposit transaction and the state or federally chartered bank, thrift, savings association, or industrial loan company meets the standards set forth in paragraph (1), the licensee shall comply with all other provisions in this division to the extent they are not preempted by other state and federal laws.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 2 - Deferred Deposit Transactions › Section 23038.

23038. (a) Any person who violates any provision of Section 987 of Title 10 of the United States Code, as amended by 126 Stat. 1785 (Public Law 112-239), or any provision of Part 232 (commencing with Section 232.1) of Subchapter M of Chapter I of Subtitle A of Title 32 of the Code of Federal Regulations, as published on July 22, 2015, on page 43560 in Number 140 of Volume 80 of the Federal Register, violates this division.
(b) A person that does not market deferred deposit transactions to, or does not enter into those transactions with, covered borrowers, as that term is defined under Part 232 (commencing with Section 232.1) of Subchapter M of Chapter I of Subtitle A of Title 32 of the Code of Federal Regulations, as amended on the date described in subdivision (a), shall not be in violation of Section 394 of the Military and Veterans Code.
(Amended by Stats. 2017, Ch. 514, Sec. 4. (SB 266) Effective January 1, 2018.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 3 - Enforcement › ARTICLE 1 - Administrative Actions › Section 23045.

23045. (a) Licenses issued under this division remain in effect until they are surrendered, revoked, or suspended.
(b) The surrender of a license becomes effective 30 days after receipt of an application to surrender the license or within a shorter period of time that the commissioner may determine, unless a revocation or suspension proceeding is pending when the application is filed or a proceeding to revoke or suspend or to impose conditions upon the surrender is instituted within 30 days after the application is filed. If a proceeding is pending or instituted, the surrender of a license becomes effective at the time and upon the conditions that the commissioner determines.
(c) The power of investigation and examination by the commissioner is not terminated by the surrender, suspension, or revocation of any license issued by the commissioner.
(d) Whenever the commissioner deems it necessary for the general welfare of the public, the commissioner shall have continuous authority to exercise the powers set forth in this division whether or not an application for a license has been filed with the commissioner, any license has been issued, or if issued, has been surrendered, suspended, or revoked.
(e) The commissioner may, upon three days’ notice and a hearing, suspend any license for a period not exceeding 30 days, pending investigation, where the commissioner believes that a person subject to this division is conducting business in an unsafe or injurious manner.
(f) Any licensee may surrender any license by delivering to the commissioner written notice that the licensee surrenders that license pursuant to subdivision (b). The surrender of the license does not affect the licensee’s civil or criminal liability for acts committed prior to the surrender of the license.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 3 - Enforcement › ARTICLE 1 - Administrative Actions › Section 23046.

23046. (a) For the purpose of discovering violations of this division or securing information required by the commissioner in the administration and enforcement of this division, the commissioner may at any time, but not less than once every two years, investigate the business of deferred deposits, and examine the books, accounts, records, and files used in the business of deferred deposit transactions, of every person engaged in the business of deferred deposit transactions, whether the person acts or claims to act as a principal or an agent, or under or without the authority of this division. For the purpose of examination, the commissioner and the commissioner’s representatives shall have free access to the offices and places of business, books, accounts, papers, records, files, safes, and vaults of all these persons.
(b) The cost of each examination of a licensee or a person subject to this division shall be paid to the commissioner by the licensee or person examined, and the commissioner may maintain an action for the recovery of the cost in any court of competent jurisdiction. In determining the cost of an examination, the commissioner may use the estimated average hourly cost for all persons performing examinations of licensees or other persons subject to this division for the fiscal year.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 3 - Enforcement › ARTICLE 1 - Administrative Actions › Section 23047.

23047. (a) In making any examination or investigation, the commissioner may, for a reasonable time not to exceed 30 days, take possession of the books, records, accounts, and other papers pertaining to the business. The commissioner may place a keeper in exclusive charge and custody of the books, records, accounts, and other papers in the office or place where they are usually kept. During possession by the keeper, no person shall remove or attempt to remove any of the books, accounts, papers, records, files, safes, and vaults, or any part thereof, except in compliance with a court order or written consent of the commissioner.
(b) The officers, employees, partners, directors, and stockholders may inspect and examine the books, accounts, papers, records, files, safes, and vaults while they are in the custody of the commissioner. Employees may make entries in these documents reflecting current operations or transactions.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 3 - Enforcement › ARTICLE 1 - Administrative Actions › Section 23048.

23048. (a) The commissioner may require the attendance of witnesses and examine under oath all persons whose testimony the commissioner requires relative to transactions or business regulated by this division or to the subject matter of any examination, investigation, or hearing.
(b) The commissioner may require the production for examination in this state of all books, records, and supporting data used by the licensee in the preparation of reports to the commissioner. The books, records, and supporting data shall be made available for examination by the commissioner in this state within 10 days after a written demand.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 3 - Enforcement › ARTICLE 1 - Administrative Actions › Section 23049.

23049. After an examination, investigation, or hearing under this division, if the commissioner deems it of public interest or advantage, the commissioner may certify a record to the proper prosecuting official of the city, county, or city and county in which the act complained of, examined, or investigated occurred. The data and records shall be kept confidential pursuant to Division 10 (commencing with Section 7920.000) of Title 1 of the Government Code and any regulations adopted thereunder.
(Amended by Stats. 2021, Ch. 615, Sec. 114. (AB 474) Effective January 1, 2022. Operative January 1, 2023, pursuant to Sec. 463 of Stats. 2021, Ch. 615.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 3 - Enforcement › ARTICLE 1 - Administrative Actions › Section 23050.

23050. Whenever, in the opinion of the commissioner, any person is engaged in the business of deferred deposit transactions, as defined in this division, without a license from the commissioner, or any licensee is violating any provision of this division, the commissioner may order that person or licensee to desist and to refrain from engaging in the business or further violating this division. If within 30 days, after the order is served, a written request for a hearing is filed and no hearing is held within 30 days thereafter, the order is rescinded.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 3 - Enforcement › ARTICLE 1 - Administrative Actions › Section 23051.

23051. (a) Whenever the commissioner believes from evidence satisfactory to the commissioner that any person has violated or is about to violate a provision of this division, or a provision of any order, license, decision, demand, requirement, or any regulation adopted pursuant to this division, the commissioner may, in the commissioner’s discretion, bring an action in the name of the people of the State of California against that person to enjoin that person from continuing that violation or doing any act in furtherance of the violation. Upon a proper showing, a permanent or preliminary injunction, restraining order, or writ of mandate shall be granted and other ancillary relief may be granted as appropriate.
(b) If the commissioner determines that it is in the public interest, the commissioner may include in any action authorized by subdivision (a) a claim for ancillary relief, including, but not limited to, a claim for restitution, disgorgement, or damages on behalf of the persons injured by the act or practice constituting the subject matter of the action. The court shall have jurisdiction to award additional relief.
(c) Any person who violates any provision of this division, or who violates any rule or order adopted pursuant to this division, shall be liable for a civil penalty not to exceed two thousand five hundred dollars ($2,500) for each violation, which shall be assessed and recovered in a civil action brought in the name of the people of the State of California by the commissioner in any court of competent jurisdiction.
(d) As applied to the penalties for acts in violation of this division, the remedies provided by this section and by other sections of this division are not exclusive, and may be sought and employed in any combination to enforce the provisions of this division.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 3 - Enforcement › ARTICLE 1 - Administrative Actions › Section 23052.

23052. The commissioner may suspend or revoke any license, upon notice and reasonable opportunity to be heard, if the commissioner finds any of the following:
(a) The licensee has failed to comply with any demand, ruling, or requirement of the commissioner made pursuant to and within the authority of this division.
(b) The licensee has violated any provision of this division or any rule or regulation made by the commissioner under and within the authority of this division.
(c) A fact or condition exists that, if it had existed at the time of the original application for the license, reasonably would have warranted the commissioner in refusing to issue the license originally.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 3 - Enforcement › ARTICLE 1 - Administrative Actions › Section 23053.

23053. The commissioner may by order summarily suspend or revoke the license of any licensee if that person fails to file the report required by Section 23026 within 10 days after notice by the commissioner that the report is due and not filed. If, after an order is made, a request for hearing is filed in writing within 30 days and the hearing is not held within 60 days thereafter, the order is deemed rescinded as of its effective date.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)
2023 California Code › Financial Code - FIN › DIVISION 10 - CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW › CHAPTER 3 - Enforcement › ARTICLE 1 - Administrative Actions › Section 23054.

23054. The revocation, suspension, expiration, or surrender of any license does not impair or affect the obligation of any preexisting lawful contract between the licensee and any borrower.
(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.)