reglab/statecodes huggingface dataset:
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 14 - Pilot Program for Increased Access to Responsible Small Dollar Loans › Subarticle 6 - Books, Records and Examinations › Section 1614 - Books and Records of Finders: Standard for Keeping and Retention Periods

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A licensee
					 shall maintain all books, records, accounts and documents for at least three
					 years, at the place(s) of business provided in the finder's registration form
					 in compliance with Section
					 22157 of
					 the Financial Code, including but not limited to, records demonstrating that
					 the activities and services performed by the finder are in compliance with
					 Section
					 22372 of
					 the Financial Code, written disclosure notices are provided to applicants in
					 compliance with Section
					 22373 of
					 the Financial Code, the written agreement between the licensee and finder is in
					 compliance with subdivision (a) of Section
					 22374 and Section
					 22376 of
					 the Financial Code, and records of compensation paid to a finder are in
					 compliance with subdivision (b) of Section
					 22374 of
					 the Financial Code.
(b) A finder
					 that disburses or receives loan payments pursuant to subdivision (b) of
					 Financial Code Section
					 22372 shall
					 maintain records of all disbursements made and loan payments received for a
					 period of at least two years or until one month following the completion of an
					 examination of the licensee by the commissioner, whichever is later. The
					 commissioner shall determine when an examination is complete.
(c) A licensee that uses a finder to provide
					 notices or disclosures to borrowers shall maintain, for at least three years in
					 accordance with Rule 1614(a), a record of the notices and disclosures each
					 finder provided to borrowers on the licensee's behalf.
1. New
						section filed 7-17-2014; operative 7-17-2014 pursuant to Government Code
						section
						11343.4(b)(3)
						(Register 2014, No. 29).
2. Amendment of section heading and section
						filed 5-10-2022; operative 7-1-2022 (Register 2022, No.
						19).
Note: Authority cited: Section
						  22150,
						  Financial Code. Reference: Sections
						  22157,
						  22372,
						  22373,
						  22374 and
						  22376,
						  Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 14 - Pilot Program for Increased Access to Responsible Small Dollar Loans › Subarticle 6 - Books, Records and Examinations › Section 1615 - Services of Finders

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A
					 finder receives or processes an application under Section
					 22373, subdivision (a), of the
					 Financial Code when the finder performs one or more of the services for a
					 licensee under Section
					 22372, subdivision (a), of the
					 Financial Code.
(b) For loans in
					 which a finder performs any of the services listed in Section
					 22372, subdivision (a) of the
					 Financial Code, the finder, if licensed or regulated under one of the state or
					 federal laws specified in Section
					 22372, subdivision (b) of the
					 Financial Code, may also perform the additional services set forth in Section
					 22372, subdivision (b) of the
					 Financial Code.
1. New
						section filed 7-17-2014; operative 7-17-2014 pursuant to Government Code
						section
						11343.4(b)(3)
						(Register 2014, No. 29).
2. Amendment designating first paragraph as
						subsection (a) and new subsection (b) filed 5-10-2022; operative 7-1-2022
						(Register 2022, No. 19).
Note: Authority cited: Section
						  22150,
						  Financial Code. Reference: Sections
						  22372 and
						  22373,
						  Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 14 - Pilot Program for Increased Access to Responsible Small Dollar Loans › Subarticle 6 - Books, Records and Examinations › Section 1616 - Counseling or Advice: Prohibited by Finder

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A finder shall not provide counseling or
					 advice to a borrower or prospective borrower under Section
					 22372, subdivision (c) and (d), of
					 the Financial Code.
(b) Counseling
					 or advice means providing written or oral information to a borrower or
					 prospective borrower that is specific to a loan or to the borrower's or
					 prospective borrower's circumstances.
1. New
						section filed 7-17-2014; operative 7-17-2014 pursuant to Government Code
						section
						11343.4(b)(3)
						(Register 2014, No. 29).
2. Amendment of subsection (a) filed
						5-10-2022; operative 7-1-2022 (Register 2022, No.
						19).
Note: Authority cited: Section
						  22150,
						  Financial Code. Reference: Section
						  22372,
						  Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 14 - Pilot Program for Increased Access to Responsible Small Dollar Loans › Subarticle 6 - Books, Records and Examinations › Section 1617 - List of Borrowers: Survey

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
For purposes of conducting a survey of borrowers under
						subdivision (e) of Section
						22380 of
						the Financial Code, a licensee shall upon request make available to the
						Commissioner a list of all borrowers who participated in the program,
						regardless of whether a loan was consummated. The information shall include the
						name and contact information of the borrower, date of the transaction, loan
						information, location of business, and other such information as deemed
						necessary by the Commissioner.
1. New
						section filed 7-17-2014; operative 7-17-2014 pursuant to Government Code
						section
						11343.4(b)(3)
						(Register 2014, No. 29).
Note: Authority cited: Section
						  22150,
						  Financial Code. Reference: Section
						  22380,
						  Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 14 - Pilot Program for Increased Access to Responsible Small Dollar Loans › Subarticle 6 - Books, Records and Examinations › Section 1618 - Notification of Payment and Due Date

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Prior to disbursing loan proceeds, a
					 licensee shall inform each borrower that the licensee is required to notify the
					 borrower about payment amounts and due dates at least two days before each
					 payment due date, and that the borrower has the right to opt out of the
					 notification at any time upon electronic or written request to the
					 licensee.
(b) A licensee shall
					 maintain evidence of compliance with Financial Code Section
					 22370,
					 subdivision (f)(5), using procedures established by the licensee, that the
					 notification required in subsection (a) was provided and of any request by a
					 borrower to opt out of receiving notification.
1. New
						section filed 7-17-2014; operative 7-17-2014 pursuant to Government Code
						section
						11343.4(b)(3)
						(Register 2014, No. 29).
Note: Authority cited: Section
						  22150,
						  Financial Code. Reference: Section
						  22370,
						  Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 15 - Pace Program Administrators › Section 1620.01 - General

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Articles 4, 5, 6, 7, 8, and 9 of this subchapter 6 are not
					 applicable to a program administrator unless the program administrator is also
					 engaged in business as a finance lender or broker.
1. New
					 article 15 (sections
					 1620.01-1620.29) and section filed
					 8-5-2021; operative 10-1-2021 (Register 2021, No. 32). Transmission deadline
					 specified in Government Code section
					 11346.4(b)
					 extended 60 calendar days pursuant to Executive Order N-40-20 and an additional
					 60 calendar days pursuant to Executive Order N-71-20. Filing deadline specified
					 in Government Code section
					 11349.3(a)
					 extended 60 calendar days pursuant to Executive Order N-40-20 and an additional
					 60 calendar days pursuant to Executive Order
					 N-71-20.
Note: Authority cited: Section
						22150,
						Financial Code. Reference: Sections
						22003.5,
						22004,
						22009,
						22015,
						22016,
						22017 and
						22018,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 15 - Pace Program Administrators › Section 1620.02 - Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The following definitions are applicable to the
					 administration of a PACE program.
(a)
(1) "To solicit a property owner to enter
				  into an assessment contract" includes, but is not limited to, assisting a
				  property owner with completing the application for financing through a PACE
				  assessment plus one or more of the following:
(A) Inviting a property owner to apply for a
				  PACE assessment.
(B) Asking a
				  property owner whether the property owner is interested in a PACE
				  assessment.
(C) Discussing the
				  terms of a PACE assessment with a property owner.
(D) Describing the characteristics of a PACE
				  assessment to a property owner.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 15 - Pace Program Administrators › Section 1620.03 - Exclusions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A "program
				  administrator" does not include attorneys, financial advisors, assessment
				  engineers or administrators, trustees or other paying agents, investors,
				  accountants, trainers or other professionals providing services to program
				  administrators, or staff of a public agency, unless, in addition to their role
				  as a service provider to a program administrator or a public agency, they also
				  contract with a public agency to arrange PACE financing for property
				  owners.
(b) "PACE Solicitor" and
				  "PACE solicitor agent" do not include any of the following:
(1) An employee or subcontractor of a PACE
				  solicitor who is performing labor on a job site for a home improvement contract
				  who is not authorized by a program administrator or PACE solicitor to solicit a
				  property owner to enter into an assessment contract and does not solicit a
				  property owner to enter into an assessment contract.
(2) A publisher of a bona fide newspaper,
				  news magazine, or industry publication of general, regular, and paid
				  circulation, and the employees thereof.
(3) A general Internet search engine, and the
				  employees thereof, when providing search results to the public, whether or not
				  the search results include paid advertising, and whether or not the search
				  results or Internet advertisements are targeted based on traits of prospective
				  consumers.
(4) Attorneys, financial
				  advisors, assessment engineers or administrators, trustees or other paying
				  agents, investors, joint powers authorities, public agencies, or staff of a
				  public agency, when performing acts in their respective role as bond counsel,
				  attorney, financial advisor, assessment engineer or administrator, trustee or
				  other paying agent, investor, joint power authority, public agency, or staff of
				  a public agency.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 15 - Pace Program Administrators › Section 1620.06 - Assessment Contracts and Disclosures

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
(1) A
				  program administrator shall provide a property owner the Right to Cancel
				  disclosure required under Streets and Highways Code section
				  5898.16
				  as a printed paper copy unless the property owner agrees to an electronic
				  copy.
(2) A program administrator
				  shall provide a property owner with the Financing Estimate and Disclosure
				  required under Streets and Highways Code section
				  5898.17
				  as a printed paper copy unless the property owner opts out of receiving a
				  printed paper copy in writing by signing a printed paper document.
(3) If a program administrator obtains the
				  consent of the property owner to enter into the assessment contract
				  electronically, that consent shall be obtained in a manner that demonstrates
				  that the property owner can access the information in the electronic form that
				  will be used to provide the information that is the subject of the
				  consent.
(4) If a program
				  administrator obtains the consent of the property owner to receive a copy of
				  the signed assessment contract solely in an electronic format, this consent
				  shall be obtained by the program administrator in a written document separate
				  from the assessment contract and in a manner that demonstrates that the
				  property owner can access the information in the electronic form.
(5) A program administrator shall make a
				  printed paper copy of the assessment contract available to the property owner
				  upon request.
(6) Nothing in this
				  section restricts the ability of a program administrator to deliver documents
				  to a property owner in printed form or requires the electronic delivery of any
				  document.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 15 - Pace Program Administrators › Section 1620.07 - Books and Records

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A
				  program administrator shall maintain its books, records, and accounts
				  physically at or digitally accessible from its main licensed location in
				  California.
(b) The records
				  required to be maintained shall, at a minimum, include the following:
(1) Records related to the business of a
				  program administrator, including the following:
(A) A program administrator's financial
				  statements prepared in accordance with generally accepted accounting
				  principles.
(B) Administration
				  agreements with public agencies.
(C) Agreements with PACE solicitors and PACE
				  solicitor agents.
(D) Enrollment
				  records for PACE solicitors and PACE solicitor agents, including records
				  maintained pursuant to paragraph (h)(2) of section
				  1620.12 of these rules.
(E) Documentation of the background check of
				  PACE solicitors and PACE solicitor agents, including records maintained
				  pursuant to paragraph (c)(4) of section
				  1620.11 and paragraphs (b)(2),
				  (c)(2), and (d)(2) of section
				  1620.13 of these rules.
(F) Documentation of the CSLB licensure or
				  registration status of a PACE solicitor and PACE solicitor agent, to the extent
				  it exists and is accessible, and if applicable, documentation supporting the
				  reason that the PACE solicitor or PACE solicitor agent is not subject to
				  licensure or registration with the CSLB, including records maintained pursuant
				  to subparagraph (d)(1)(D) of section
				  1620.11 and subdivision (g) of
				  section 1620.12 of these rules.
(G) Documentation of monitoring PACE
				  solicitor and PACE solicitor agent compliance as required by subdivision (h) of
				  section 1620.14 of these rules.
(H) Documentation of periodic reviews as
				  required by paragraph (e)(2) of section
				  1620.15 of these rules.
(I) Documentation of PACE solicitor agent
				  training under paragraph (c)(1) of section
				  1620.17 of these
				  rules.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 15 - Pace Program Administrators › Section 1620.10 - Dishonest Dealings and Misleading Statements

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The following constitute dishonest
				  dealings by a program administrator under Financial Code section
				  22161. This
				  list is not exhaustive of all activities that constitute dishonest dealings by
				  a program administrator.
(1) Disclosing to a
				  PACE solicitor or PACE solicitor agent the amount of PACE financing available
				  to a property owner.
(2) Paying a
				  PACE solicitor for work that is financed through an assessment contract that a
				  program administrator knows or should have known is unperformed. For purposes
				  of this paragraph, a determination of whether work is performed shall be
				  consistent with Business and Professions Code section
				  7159.5,
				  paragraph (a)(5).
(3) Making the
				  final payment on an assessment contract to a PACE solicitor when the program
				  administrator knows or should have known that a product financed through an
				  assessment contract is uninstalled.
(A) For
				  purposes of this paragraph, a warranty shall not constitute an uninstalled
				  product.
(B) For purposes of this
				  paragraph, contract terms and services including, but not limited to, a
				  warranty, operations, maintenance, repairs, and customer service shall not
				  constitute an uninstalled product.
(4) Paying a PACE solicitor for a product
				  that is materially higher in price from the product the PACE solicitor installs
				  on the property, where the program administrator knows or should have known
				  that the product installed costs materially less than the product financed
				  through the assessment contract.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 15 - Pace Program Administrators › Section 1620.11 - PACE Solicitor Enrollment Standards and Processes

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Every program administrator shall
				  establish and maintain a written process for enrolling a PACE solicitor that
				  complies with the requirements of this rule.
(1) A program administrator may not authorize
				  a PACE solicitor or a PACE solicitor agent to solicit a property owner to enter
				  into an assessment contract until the program administrator enrolls the PACE
				  solicitor and PACE solicitor agent.
(2) A program administrator may not fund a
				  home improvement contract if the PACE financing was solicited by a person not
				  enrolled as a PACE solicitor or PACE solicitor agent, unless the person was not
				  required to be enrolled as a PACE solicitor or PACE solicitor agent at the time
				  of solicitation.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 15 - Pace Program Administrators › Section 1620.12 - PACE Solicitor Agent Enrollment Standards and Processes

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Every program administrator shall
				  maintain a written process for enrolling a PACE solicitor agent that complies
				  with the requirements of this rule.
(b) The process for enrolling a PACE
				  solicitor agent shall include a background check, which may be accomplished
				  through any of the following methods:
(1) The
				  program administrator may rely on a fingerprint background check conducted by
				  the Contractors State License Board.
(2) The program administrator may utilize a
				  third-party service that conducts background checks.
(3) The program administrator may conduct its
				  own background check of a PACE solicitor agent.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 15 - Pace Program Administrators › Section 1620.13 - Enrollment Denial

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A
				  program administrator shall not enroll a PACE solicitor if as a result of the
				  review of readily and publicly available information regarding the PACE
				  solicitor conducted as part of the program administrator's enrollment process,
				  the program administrator finds a clear pattern of consumer complaints about
				  the PACE solicitor regarding dishonesty, misrepresentations, or omissions, a
				  high likelihood that the PACE solicitor will solicit assessment contracts in a
				  manner that does not comply with applicable law. or a clear pattern of the PACE
				  solicitor failing to timely receive and respond to property owner complaints
				  regarding the PACE solicitor.
(b) A
				  clear pattern may be evidenced by recurring complaints regarding the PACE
				  solicitor that allege deception, misrepresentation, or omission, including
				  where the complaints contain information that suggests a pattern of dishonest
				  business practices.
(1) In considering whether
				  a clear pattern of a dishonest business practices exists, the program
				  administrator may consider the volume of complaints relative to the size of the
				  PACE solicitor, the egregiousness of the alleged conduct, the PACE solicitor's
				  response to the allegations, and the PACE solicitor's subsequent resolution of
				  the complaints.
(2) A program
				  administrator shall keep in its books and records documentation that it
				  reviewed readily and publicly available information of consumer complaints
				  about a PACE solicitor regarding dishonesty, misrepresentations, or omissions,
				  and its findings. If the program administrator finds a clear pattern of
				  consumer complaints about the PACE solicitor regarding dishonesty,
				  misrepresentations, or omissions, the program administrator shall not enroll
				  the PACE solicitor. If the program identifies applicable complaints but enrolls
				  the PACE solicitor, the program administrator shall document the rationale for
				  the determination that the consumer complaints regarding dishonesty,
				  misrepresentations, or omissions do not constitute a clear pattern of a
				  dishonest business practice.
(3)
				  For purposes of establishing a clear pattern of consumer complaints about a
				  PACE solicitor, complaints against a PACE solicitor agent employed or retained
				  by a PACE solicitor shall constitute complaints about the PACE solicitor, while
				  the PACE solicitor agent is engaged by the PACE solicitor during the time of
				  the complaints and the subject of the complaints involves acts by the PACE
				  solicitor agent while soliciting property owners on behalf of the PACE
				  solicitor.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 15 - Pace Program Administrators › Section 1620.14 - Monitoring Compliance

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  The process established and maintained by a program administrator to promote
				  and evaluate the compliance of a PACE solicitor and PACE solicitor agent with
				  the requirements of applicable law shall be in writing and shall comply with
				  the requirements of this section.
(b) The process shall include a risk-based,
				  commercially reasonable procedure to monitor and test the compliance of PACE
				  solicitors and PACE solicitor agents with the requirements of Financial Code
				  section
				  22689,
				  subdivision (a).
(1) A risk-based,
				  commercially reasonable procedure shall include different processes for
				  monitoring or testing compliance that are designed to identify potential areas
				  where the solicitation activities of PACE solicitors and PACE solicitor agents
				  are not in compliance with applicable law. If a program administrator relies on
				  samples of data that are intended to identify noncompliance, the program
				  administrator shall have a reasonable basis for determining the adequacy of the
				  sample size. The sample size shall include vulnerable populations such as
				  seniors, non-English speakers, and low-income populations, where applicable.
				  Nothing in this section restricts the monitoring or testing of compliance
				  through sampling unless expressly stated.
(2) The following are examples of
				  commercially reasonable processes for monitoring and testing whether a PACE
				  solicitor or a PACE solicitor agent soliciting property owners is in compliance
				  with the law. The list is not exhaustive, and a program administrator may
				  establish and implement other or additional methods to identify noncompliance.
(A) A program administrator may monitor and
				  test the compliance of PACE solicitors and PACE solicitor agents by posing
				  questions to property owners during the oral confirmation of key terms required
				  under Streets and Highways Code section
				  5913
				  or at any other time.
(B) A program
				  administrator may monitor and test the compliance of PACE solicitors and PACE
				  solicitor agents by conducting a confirmation of completion call to property
				  owners.
(C) A program administrator
				  may monitor and test the compliance of a PACE solicitor and PACE solicitor
				  agent through an analysis of the complaints received by the program
				  administrator.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 15 - Pace Program Administrators › Section 1620.15 - Periodic Review Standards

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The procedures for the periodic review of
				  the solicitation activities of a PACE solicitor required by paragraph (f)(3) of
				  Financial Code section
				  22680 shall
				  be in writing and shall be designed by a program administrator to measure a
				  PACE solicitor's compliance with the standards for solicitation
				  activities.
(b) The periodic review
				  procedures shall include the following:
(1) A
				  review of a sampling of advertising related to PACE conducted by the PACE
				  solicitor to ensure representations regarding the PACE program administered by
				  the program administrator are not false or misleading.
(2) An analysis of the controls maintained by
				  the PACE solicitor to ensure a PACE solicitor agent complies with the law that
				  governs soliciting a property owner to enter into an assessment contract,
				  including such controls as written procedures, supervision, reporting, and
				  resolution of complaints. The analysis may be tailored based on the size of the
				  PACE solicitor and the volume of PACE business conducted by the PACE solicitor.
				  The program administrator shall use the information on the controls maintained
				  by the PACE solicitor in determining the level of monitoring required under
				  paragraph (f)(1) of Financial Code section
				  22680 and
				  section 1620.14 of these rules.
(3) An analysis of a sampling of responses to
				  the open-ended questions during the oral confirmation of key terms telephone
				  call conducted with property owners solicited by the PACE solicitor or its
				  agents, for patterns suggesting potential misrepresentations or
				  omissions.
(4) An analysis of
				  complaints made against the PACE solicitor regarding the solicitation
				  activities of the PACE solicitor, and the resolution of the
				  complaints.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 15 - Pace Program Administrators › Section 1620.16 - Canceling Enrollment

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  A program administrator shall establish and implement a written process for
				  canceling the enrollment of a PACE solicitor or PACE solicitor agent who fails
				  to maintain the minimum qualifications required by Financial Code section
				  22680 or
				  who violates any provision of the California Financing Law.
(b) The process shall include the following:
(1) Tracking the enrollment of each PACE
				  solicitor and PACE solicitor agent.
(2) Notifying the Commissioner of any change
				  to the enrollment status of each PACE solicitor and PACE solicitor
				  agent.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 15 - Pace Program Administrators › Section 1620.17 - Training Program

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
(1) The training program for PACE solicitor
				  agents established and maintained by the program administrator shall comply
				  with the requirements of Financial Code section
				  22681 and
				  this rule.
(2) A program
				  administrator that does not administer assessment contracts for efficiency
				  improvements on residential real property with four or fewer units does not
				  need to comply with this rule.
(3)
				  The training program consists of three parts:
(A) The introductory training addressing the
				  topics in subdivision (c) of Financial Code section
				  22681,
				  which must be completed as part of the enrollment process for PACE solicitor
				  agents.
(B) The passage of a test
				  that measures the PACE solicitor agent's knowledge and comprehension of the
				  training material.
(C) Six hours of
				  education that a PACE solicitor agent must complete within three months of
				  completing the enrollment process.
(4) A program administrator may combine the
				  introductory training and the six hours of education provided that the combined
				  training occurs upon enrollment and before the PACE solicitor agent engages in
				  the business of a PACE solicitor agent.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 15 - Pace Program Administrators › Section 1620.21 - Ability to Pay Determinations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A program administrator shall maintain
				  written procedures for determining whether a property owner has a reasonable
				  ability to pay the annual payment obligations for the PACE assessment as
				  required under Financial Code sections
				  22686 and
				  22687,
				  which shall include the following:
(1) The
				  criteria used for identifying whether a property owner has sufficient residual
				  income to meet basic living expenses.
(2) The criteria used for determining whether
				  income is from a temporary source.
(3) The criteria used for determining whether
				  assets are liquid.
(4) Any
				  assumptions included in the determination, such as the continuation of, or
				  growth of, income, the continuation or extinguishment of debt, and the
				  continuation or extinguishment of any basic household living
				  expenses.
(5) If the program
				  administrator allows exceptions to any of its criteria for determining a
				  property owner's ability to pay the property owner's PACE assessment
				  obligations, the nature of any permissible exceptions and the conditions
				  allowing for the exceptions.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 15 - Pace Program Administrators › Section 1620.22 - Property Owner Income

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
(1) The reasonable good faith determination
				  of whether a property owner has a reasonable ability to pay the annual
				  assessment shall be made and documented independently from any statement by a
				  property owner regarding whether the property owner has the ability to pay the
				  annual payment obligations under an assessment contract.
(2) This subdivision shall not be applicable
				  in the case of emergency or immediate necessity under subdivision (e) of
				  Financial Code section
				  22687.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 15 - Pace Program Administrators › Section 1620.25 - Emergency

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The installation of the following products does not
					 constitute an emergency or immediate necessity: cool coat paint, window
					 replacements, or a cool roof. This list is not exhaustive.
1. New
					 section filed 8-5-2021; operative 10-1-2021 (Register 2021, No. 32).
					 Transmission deadline specified in Government Code section
					 11346.4(b)
					 extended 60 calendar days pursuant to Executive Order N-40-20 and an additional
					 60 calendar days pursuant to Executive Order N-71-20. Filing deadline specified
					 in Government Code section
					 11349.3(a)
					 extended 60 calendar days pursuant to Executive Order N-40-20 and an additional
					 60 calendar days pursuant to Executive Order
					 N-71-20.
Note: Authority cited: Section
						22150,
						Financial Code. Reference: Section
						22687,
						Financial Code; and Sections
						5898.16
						and
						5940,
						Streets and Highways Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 15 - Pace Program Administrators › Section 1620.27 - Automated Valuation Model

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A program administrator shall maintain in
				  its books and records under section
				  1620.07 of these rules evidence
				  documenting the confidence scores and estimated values for all the automated
				  valuation models used to derive the market value of each property subject to a
				  PACE assessment.
(b) The disclosure
				  to the property owner of the market value determination for the property
				  required under subdivision (b) of Financial Code section
				  22685 prior
				  to the signing of the assessment contract shall be in writing.
1. New
					 section filed 8-5-2021; operative 10-1-2021 (Register 2021, No. 32).
					 Transmission deadline specified in Government Code section
					 11346.4(b)
					 extended 60 calendar days pursuant to Executive Order N-40-20 and an additional
					 60 calendar days pursuant to Executive Order N-71-20. Filing deadline specified
					 in Government Code section
					 11349.3(a)
					 extended 60 calendar days pursuant to Executive Order N-40-20 and an additional
					 60 calendar days pursuant to Executive Order
					 N-71-20.
Note: Authority cited: Section
						22150,
						Financial Code. Reference: Sections
						22684 and
						22685,
						Financial Code; and Section
						5898.16,
						Streets and Highways Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 15 - Pace Program Administrators › Section 1620.28 - Useful Life of Improvement

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A program administrator shall base the determination of the
					 useful life of the efficiency improvement as of the date of the execution of
					 the assessment contract and shall maintain documentation of the useful life of
					 the efficiency improvement in its books and records in accordance with section
					 1620.07 of these
					 rules.
1. New
					 section filed 8-5-2021; operative 10-1-2021 (Register 2021, No. 32).
					 Transmission deadline specified in Government Code section
					 11346.4(b)
					 extended 60 calendar days pursuant to Executive Order N-40-20 and an additional
					 60 calendar days pursuant to Executive Order N-71-20. Filing deadline specified
					 in Government Code section
					 11349.3(a)
					 extended 60 calendar days pursuant to Executive Order N-40-20 and an additional
					 60 calendar days pursuant to Executive Order
					 N-71-20.
Note: Authority cited: Section
						22150,
						Financial Code. Reference: Section
						22684,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 6 - California Financing Law › Article 15 - Pace Program Administrators › Section 1620.29 - Commercially Reasonable

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  The verification of criteria for submitting, presenting, or otherwise approving
				  for recordation an assessment contract under subdivision (
l
)
				  of Financial Code section
				  22684 is
				  "commercially reasonable and available" in the following circumstances.
(1) The verification relied on public
				  records, including property tax records, county assessor records, court
				  filings, and information made available on government websites.
(2) The verification relied on information
				  supplied in credit reports prepared by national credit reporting
				  agencies.
(3) The verification
				  relied on the market value of property determined in compliance with
				  subdivision (a) of Financial Code section
				  22685.
(4) The verification relied on mortgage
				  statements.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 7 - Securities Owners Protection [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Change
				without regulatory effect repealing subchapter 7 (sections
				1590-1600) filed 2-7-97 pursuant
				to section
				100, title 1, California Code of
				Regulations (Register 97, No. 6).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 8 - Retirement Systems [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
				Subchapter 8 filed 3-1-46 (Register No. 3)
2. Repealer of Subchapter
				8 filed 8-27-71 as procedural; effective upon filing (Register 71, No.
				35).
Note: Authority for Subchapter 8 (§§
										1650 through
				  1692, Sec.
				  22, Chapter 1035, Stats. 1945);
				  authority for repealer, Chap. 1443, Stats. 1970.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 1 - General Provisions › Section 1700 - Preamble. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 Sections 1700 to
					 1753, inclusive, filed 6-7-48
					 (Register 12, No. 10).
2. Amendment to Section
					 1700 filed 3-3-52; effective
					 thirtieth day thereafter (Register 27, No. 5).
3. Amendment filed
					 10-6-72; effective thirtieth day thereafter (Register 72, No.
					 41).
4. Repealer filed 12-3-81; effective thirtieth day thereafter
					 (Register 81, No. 49).
Note: Sections
						1700-1753, inclusive, issued under
						authority contained in Section
						14 of Escrow Act, Chapter 921,
						Statutes 1947. Additional authority cited: Sections
						17400 and
						17401,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 1 - General Provisions › Section 1701 - Offices of Division. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Amendment
					 filed 3-33-52; effective thirtieth day thereafter (Register 27, No.
					 5).
2. Amendment filed 11-24-65; effective thirtieth day thereafter
					 (Register 65, No. 23).
3. Repealer filed 10-6-72; effective
					 thirtieth day thereafter (Register 72, No. 41).
Note: Authority cited: Sections
						17400 and
						17401,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 1 - General Provisions › Section 1702 - Information: Where Obtainable. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Amendment
					 filed 11-13-58; effective thirtieth day thereafter (Register 58, No.
					 21).
2. Amendment filed 10-6-72; effective thirtieth day thereafter
					 (Register 72, No. 41).
3. Repealer filed 12-3-81; effective
					 thirtieth day thereafter (Register 81, No. 49).
Note: Additional authority cited: Sections
						17400 and
						17401,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 1 - General Provisions › Section 1703 - Communications to Department. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Amendment
					 filed 10-6-72; effective thirtieth day thereafter (Register 72, No.
					 41).
2. Repealer filed 12-3-81; effective thirtieth day thereafter
					 (Register 81, No. 49).
Note: Authority cited: Sections
						17400 and
						17401,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 1 - General Provisions › Section 1704 - Reference of Inquiries. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Amendment
					 filed 3-3-52; effective thirtieth day thereafter (Register 27, No.
					 41).
2. Repealer filed 10-6-72; effective thirtieth day thereafter
					 (Register 72, No. 41).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 1 - General Provisions › Section 1705 - Address for Communications. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer
					 filed 10-6-72; effective thirtieth day thereafter (Register 72, No.
					 41).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 1 - General Provisions › Section 1706 - Additional Data. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Amendment
					 filed 10-6-72; effective thirtieth day thereafter (Register 72, No.
					 41).
2. Repealer filed 12-3-81; effective thirtieth day thereafter
					 (Register 81, No. 49).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 1 - General Provisions › Section 1707 - Duplicate Exhibits. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer
					 filed 12-3-81; effective thirtieth day thereafter (Register 81, No.
					 49).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 1 - General Provisions › Section 1708 - Rulings. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer
					 filed 12-3-81; effective thirtieth day thereafter (Register 81, No.
					 49).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 1 - General Provisions › Section 1709 - Branch Office Sign

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
An escrow agent by an appropriate sign shall identify each
					 of its branch offices as a branch office of the escrow agent.
1. Editorial
					 correction of NOTE filed 10-13-82 (Register 82, No.
					 42).
Note: Authority cited: Sections
						17400 and
						17401,
						Financial Code. Reference: Section
						17213.5,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 1 - General Provisions › Section 1709.1 - Notification of Location of Customer Contact Centers

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Each Internet escrow agent shall notify the Commissioner in
					 writing of the following:
(a) The
				  business address of a customer contact center at least 10 days prior to
				  commencing business at that location.
(b) The new business address at least 10 days
				  prior to the date of an intended change in the location of any customer contact
				  center.
1. New
					 section filed 7-21-2003; operative 7-21-2003 pursuant to Government Code
					 section
					 11343.4
					 (Register 2003, No. 30).
Note: Authority cited: Section
						17400,
						Financial Code. Reference: Sections
						17005.3,
						17404 and
						17406,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 1 - General Provisions › Section 1710 - Joint Control Agents and Internet Escrow Agents

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A "joint control agent" is an escrow agent of the type
					 described in Section
					 17005.1 of
					 the Financial Code. An "Internet escrow agent" is an escrow agent of the type
					 described in Section
					 17004.5 of
					 the Financial Code. All the regulations in this subchapter shall be applicable
					 to joint control agents and Internet escrow agents. All references to an
					 "escrow agent" or "escrow agents" shall be deemed to refer not only to escrow
					 agents generally but also to joint control agents and Internet escrow
					 agents.
1. New
					 section filed 11-24-65; effective thirtieth day thereafter (Register 65, No.
					 23).
2. Amendment filed 3-20-78; effective thirtieth day thereafter
					 (Register 78, No. 12).
3. Editorial correction filed 10-13-82
					 (Register 82, No. 42).
4. Amendment of section heading, section and
					 NOTE filed 7-21-2003; operative 7-21-2003 pursuant to Government Code section
					 11343.4
					 (Register 2003, No. 30).
Note: Authority cited: Section
						17400,
						Financial Code. Reference: Sections
						17004.5 and
						17005.1,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 1 - General Provisions › Section 1711 - Definition of Terms

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The terms used in these regulations shall have the same
					 meanings set forth in the Escrow Law.
1. New
					 section filed 7-8-83; effective thirtieth day thereafter (Register 83, No.
					 28).
Note: Authority cited: Sections
						17400 and
						17401,
						Financial Code. Reference: Section
						17001,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 9 - Escrow Agents › Article 2 - Applications › Section 1712 - Form of Application. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer
					 filed 12-3-81; effective thirtieth day thereafter (Register 81, No.
					 49).