reglab/statecodes huggingface dataset:
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.5 › Article 6 - Bonding › Section 1950.205 - Bond Cancellation and Claims

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The bond issued pursuant to Section
				  50205 of the Code shall contain a
				  provision that the bond shall not be cancelled in whole or in part without 30
				  days notice to the Commissioner by the bonding or insurance company.
(b) The bond issued pursuant to Section
				  50205 of the Code shall also
				  provide that the bonding or insurance company issuing the bond provide notice
				  to the Commissioner within 10 days of service of any action against the bond
				  and immediately upon payment of any claims.
1. New
					 article 6 (section
					 1950.205) and section filed
					 11-25-96; operative 12-25-96 (Register 96, No.
					 48).
Note: Authority cited: Section
						50304,
						Financial Code. Reference: Section
						50205,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.5 › Article 6 - Bonding › Section 1950.205.1 - Surety Bond

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Every licensee shall maintain a surety bond in accordance
					 with Section
					 50205 of
					 the Financial Code as follows:
(a) A
				  residential mortgage lender, mortgage servicer, or residential mortgage lender
				  and servicer that does not employ one or more mortgage loan originators shall
				  post a surety bond in the amount of $50,000. The amount may be increased by
				  order of the Commissioner upon a determination by the Commissioner that the
				  licensee is not in compliance with any law, rule, or order.
(b) A residential mortgage lender, mortgage
				  servicer, or residential mortgage lender and servicer that employs one or more
				  mortgage loan originators shall post a surety bond based on the dollar amount
				  of residential mortgage loans originated or serviced, or both, by that licensee
				  and its mortgage loan originator employees in the preceding year, as follows:
Aggregate Loans
Bond Amount
0 - $50,000,000
$ 50,000
$50,000,001 - $500,000,000
$100,000
Over $500,000,001
$200,000
(c)
				  A residential mortgage lender, mortgage servicer, or residential mortgage
				  lender and servicer applicant without a prior year operating history shall make
				  a good faith estimate of the aggregate amount of loans anticipated to be
				  originated in the upcoming year to determine the amount of the surety
				  bond.
1. New
					 section filed 4-1-2010 as an emergency; operative 7-31-2010 (Register 2010, No.
					 14). A Certificate of Compliance must be transmitted to OAL by 9-28-2010 or
					 emergency language will be repealed by operation of law on the following
					 day.
2. Editorial correction of HISTORY 1 (Register 2010, No.
					 40).
3. New section refiled 9-28-2010 as an emergency, including
					 repealer of subsection (d); operative 9-28-2010 (Register 2010, No. 40). A
					 Certificate of Compliance must be transmitted to OAL by 12-27-2010 or emergency
					 language will be repealed by operation of law on the following
					 day.
4. New section refiled 12-23-2010 as an emergency; operative
					 12-23-2010 (Register 2010, No. 52). A Certificate of Compliance must be
					 transmitted to OAL by 3-23-2011 or emergency language will be repealed by
					 operation of law on the following day.
5. Certificate of Compliance
					 as to 12-23-2010 order transmitted to OAL 3-14-2011 and filed 4-25-2011
					 (Register 2011, No. 17).
Note: Authority cited: Section
						50304,
						Financial Code. Reference: Section
						50205,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.5 › Article 7 - Application for Change of Control › Section 1950.206 - Application for Authorization for a Change of Control Under the California Residential Mortgage Lending Act

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The application for authorization for a change of control
					 shall be made on the following form:
(Department of Business Oversight Use
							 Only)
DEPARTMENT OF BUSINESS OVERSIGHT
Fee Paid $
							 ___________________________
___________________________File
							 No.
Receipt No. ___________________________
STATE OF CALIFORNIA DEPARTMENT OF BUSINESS OVERSIGHT
FACING PAGE
FOR APPLICATION FOR AUTHORIZATION
					 FOR A CHANGE OF CONTROL UNDER THE
CALIFORNIA RESIDENTIAL MORTGAGE LENDING
					 ACT
___________________________
PRE
-
AUTHORIZATION AMENDMENT NO.
					 ______________________________
___________________________
The Application for Authorization for a Change of Control
MUST be TYPEWRITTEN and accompanied
by an investigation fee of
					 $100 and the fingerprint processing fees (Departments of Business Oversight and
					 Justice), if applicable. These fees are payable to the Commissioner of Business
					 Oversight. The application must be filed only in the Los Angeles office of the
					 Department of Business Oversight located at 320 West 4th Street, Suite 750, Los
					 Angeles, California 90013-1105. [Financial Code Sections
					 50121,
					 50126 and
					 50206.]
Special Instructions: An Application for Authorization for
					 a Change of Control under the California Residential Mortgage Lending Act shall
					 include (1) this completed Facing Page, (2) the completed and revised
					 applicable pages of the Application for a License Under the California
					 Residential Mortgage Lending Act (but not the Facing Page for that application)
					 with information contained therein necessary to enable the Commissioner of
					 Business Oversight to make a finding required by Financial Code Sections
					 50121 and
					 50206(b)
					 and attached to this completed Facing Page, and (3) the duly executed and
					 verified Execution Page for this application. (A blank Execution Page may be
					 found at the end of the Application for a License.) The applicant should also
					 review the Special Instructions for the Application for a License for
					 instructions on filing pre-authorization amendments to this application.
___________________________
In pursuance of, and in compliance with, the provisions of
					 the California Residential Mortgage Lending Act, the licensee,
					 ______________________________, with its principal office located at:
___________________________
(Number and
							 Street)
(City)
(State)
(Zip Code)
hereby applies to the Commissioner of Business Oversight
					 for authorization for a change of control.
1.
a. Date
				  of Organization: ___________________________
b. State of Organization:
				  ___________________________
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.5 › Article 7 - Application for Change of Control › Section 1950.209 - Forms

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The unique
				  identifier of a licensed mortgage loan originator shall be clearly shown on all
				  residential mortgage loan application forms.
(b) The unique identifier of a licensed
				  mortgage loan originator shall be clearly shown on any advertising,
				  solicitations, including business cards or Internet Web sites, whether in
				  paper, electronic, or any other format, which directly identifies the mortgage
				  loan originator.
1. New
					 section filed 4-1-2010 as an emergency; operative 7-31-2010 (Register 2010, No.
					 14). A Certificate of Compliance must be transmitted to OAL by 9-28-2010 or
					 emergency language will be repealed by operation of law on the following
					 day.
2. Editorial correction of HISTORY 1 (Register 2010, No.
					 40).
3. New section refiled 9-28-2010 as an emergency, including
					 repealer of subsection (b); operative 9-28-2010 (Register 2010, No. 40). A
					 Certificate of Compliance must be transmitted to OAL by 12-27-2010 or emergency
					 language will be repealed by operation of law on the following
					 day.
4. New section refiled 12-23-2010 as an emergency; operative
					 12-23-2010 (Register 2010, No. 52). A Certificate of Compliance must be
					 transmitted to OAL by 3-23-2011 or emergency language will be repealed by
					 operation of law on the following day.
5. Certificate of Compliance
					 as to 12-23-2010 order, including amendment of subsection (a), new subsection
					 (b) and amendment of NOTE, transmitted to OAL 3-14-2011 and filed 4-25-2011;
					 amendments operative 5-25-2011 (Register 2011, No.
					 17).
Note: Authority cited: Sections
						50146 and
						50304,
						Financial Code. Reference: Section
						50209,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.5 › Article 8 - Employees › Section 1950.301 - Fingerprinting of Certain Employees

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) If a licensee suffers a loss of trust
				  funds as a result of the actions of an employee, as defined by subsection (b)
				  of Rule 1950.122.2, and that employee is or was an individual prohibited from
				  employment with a licensee under Section
				  50317(a) of the
				  Code, then the Department, at the discretion of the Commissioner, may undertake
				  to obtain a (1) Statement of Identity and Questionnaire, or similar report,
				  including but not limited to the Form MU2, (2) notice under Rule 1950.122.2,
				  and (3) fingerprints of all other such employees for the purpose of determining
				  whether other prohibited individuals have been so employed by the
				  licensee.
(b) A licensee shall
				  cooperate fully with the Department in complying with the requirement of
				  subsection (a).
1. New
					 article 8 (section
					 1950.301) and section filed
					 11-25-96; operative 12-25-96 (Register 96, No. 48).
2. Amendment of
					 subsection (a) and NOTE filed 4-1-2010 as an emergency; operative 4-1-2010
					 (Register 2010, No. 14). A Certificate of Compliance must be transmitted to OAL
					 by 9-28-2010 or emergency language will be repealed by operation of law on the
					 following day.
3. Amendment of subsection (a) and NOTE refiled
					 9-28-2010 as an emergency; operative 9-28-2010 (Register 2010, No. 40). A
					 Certificate of Compliance must be transmitted to OAL by 12-27-2010 or emergency
					 language will be repealed by operation of law on the following
					 day.
4. Amendment of subsection (a) and NOTE refiled 12-23-2010 as
					 an emergency; operative 12-23-2010 (Register 2010, No. 52). A Certificate of
					 Compliance must be transmitted to OAL by 3-23-2011 or emergency language will
					 be repealed by operation of law on the following day.
5. Certificate
					 of Compliance as to 12-23-2010 order transmitted to OAL 3-14-2011 and filed
					 4-25-2011 (Register 2011, No. 17).
Note: Authority cited: Section
						50304,
						Financial Code. Reference: Sections
						50140 and
						50317,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.5 › Article 9 - Books and Records › Section 1950.302 - Examination by Commissioner

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The Commissioner may consider the following factors in
					 determining how often an examination required under subdivision (a) of Section
					 50302 of
					 the Financial Code shall be conducted:
(a) Past and current violations of the
				  California Residential Mortgage Lending Act and the regulations promulgated
				  thereunder, taking into consideration the nature and severity of the violations
				  and the number of violations.
(b)
				  The number of years the licensee has been licensed under the California
				  Residential Mortgage Lending Act.
1. New
					 section filed 12-31-2001 as an emergency; operative 1-1-2002 (Register 2002,
					 No. 1). A Certificate of Compliance must be transmitted to OAL by 5-1-2002 or
					 emergency language will be repealed by operation of law on the following
					 day.
2. New section refiled 4-29-2002 as an emergency; operative
					 4-30-2002 (Register 2002, No. 18). A Certificate of Compliance must be
					 transmitted to OAL by 8-28-2002 or emergency language will be repealed by
					 operation of law on the following day.
3. Certificate of Compliance
					 as to 4-29-2002 order transmitted to OAL 7-9-2002 and filed 8-20-2002 (Register
					 2002, No. 34).
Note: Authority cited: Section
						50304,
						Financial Code. Reference: Section
						50302,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.5 › Article 9 - Books and Records › Section 1950.307 - Annual Report and Mortgage Call Report

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) In addition to the annual report required
				  under Section
				  50307 of the Code, a residential
				  mortgage lender, mortgage servicer, or residential mortgage lender and
				  servicer, shall file the NMLS Mortgage Call Report required to be filed
				  pursuant to Section
				  50307.2 of the Code with NMLS for
				  transmission to the Commissioner.
(b) Every mortgage loan originator shall
				  ensure that all residential mortgage loans that close as a result of his or her
				  loan origination activities are included in the mortgage call reports submitted
				  to NMLS or the Commissioner by his or her sponsoring residential mortgage
				  lender, mortgage servicer, or residential mortgage lender and
				  servicer.
1. New
					 section filed 4-1-2010 as an emergency; operative 4-1-2010 (Register 2010, No.
					 14). A Certificate of Compliance must be transmitted to OAL by 9-28-2010 or
					 emergency language will be repealed by operation of law on the following
					 day.
2. New section refiled 9-28-2010 as an emergency; operative
					 9-28-2010 (Register 2010, No. 40). A Certificate of Compliance must be
					 transmitted to OAL by 12-27-2010 or emergency language will be repealed by
					 operation of law on the following day.
3. New section refiled
					 12-23-2010 as an emergency; operative 12-23-2010 (Register 2010, No. 52). A
					 Certificate of Compliance must be transmitted to OAL by 3-23-2011 or emergency
					 language will be repealed by operation of law on the following
					 day.
4. Certificate of Compliance as to 12-23-2010 order transmitted
					 to OAL 3-14-2011 and filed 4-25-2011 (Register 2011, No.
					 17).
Note: Authority cited: Sections
						50146 and
						50304,
						Financial Code. Reference: Sections
						50307 and
						50307.2,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.5 › Article 9 - Books and Records › Section 1950.314 - Books and Records: Standard for Keeping

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In lieu of the requirements set forth in Sections
					 1950.314.1 and
					 1950.314.2 of these rules, a
					 residential mortgage lender, residential mortgage lender and servicer, or
					 residential mortgage loan servicer may maintain its trust account records,
					 books, and other loan records pursuant to the requirements of the Federal
					 Housing Administration, Veterans Administration, Farmers Home Administration,
					 Government National Mortgage Association, Federal National Mortgage
					 Association, or Federal Home Loan Mortgage Corporation, as applicable, or
					 requirements of any other institutional investor to whom loans have been or
					 will be sold, or on whose behalf loans are or will be serviced; provided the
					 institutional investor does all of the following:
(1) requires monthly reconciliations of trust
				  account balances;
(2) requires
				  annual audited financial statements prepared by an independent certified public
				  accountant in accordance with generally accepted accounting principles;
				  and
(3) maintains a contractual
				  right to audit the trust accounts held by the licensee.
1. New
					 article 9 (sections
					 1950.314-1950.314.7) and section
					 filed 11-25-96; operative 12-25-96 (Register 96, No.
					 48).
Note: Authority cited: Section
						50304,
						Financial Code. Reference: Sections
						50124,
						50301 and
						50314,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.5 › Article 9 - Books and Records › Section 1950.314.1 - Trust Account Books

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A residential mortgage lender,
				  residential mortgage lender and servicer, or residential mortgage loan servicer
				  shall establish, and maintain current, the following books with reference to
				  its trust accounts:
(1) A trust account
				  ledger card for each account detailing receipts and disbursement of all funds
				  deposited by the borrower, lender or seller with the licensee in connection
				  with the origination, closing or servicing of any mortgage loan. The funds
				  shall be held in accordance with the terms of a written agreement between the
				  licensee and such borrower, lender or seller which provides that upon the
				  occurrence of a specific condition or event, the funds or a portion thereof
				  shall be disbursed to the borrower, lender or seller.
(2) Liability controlling account;
(3) Cash receipt and disbursement journal or
				  a file containing copies of all receipts and checks and/or check stubs of
				  checks issued by the residential mortgage lender or residential mortgage loan
				  servicer as a medium of posting to the records referred to in subsections (a)
				  and (b) in which case adding machine tapes of totals of receipts and checks
				  shall be retained.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.5 › Article 9 - Books and Records › Section 1950.314.2 - General Books

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A
				  residential mortgage lender, residential mortgage lender and servicer, or
				  residential mortgage loan servicer shall establish, and maintain current, the
				  following books with reference to its general accounts:
(1) General ledger reflecting the assets,
				  liabilities, capital, income and expense of the business, in accordance with
				  generally accepted accounting principles;
(2) Cash receipt and disbursement journal.
The bank accounts contained in the general ledger shall be
					 reconciled at least once each month with the bank statements of the general
					 accounts.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.5 › Article 9 - Books and Records › Section 1950.314.3 - Books and Records: Location and Office Hours

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A residential mortgage lender, residential mortgage lender
					 and servicer, or residential mortgage loan servicer shall keep the Commissioner
					 promptly advised at all times of the address or addresses at which the books
					 and records are maintained and, if the office or location hours at the place
					 where the books and records are maintained are other than 8 a.m. to 5 p.m.,
					 Monday through Friday, the hours and days during which the books and records
					 may be reviewed.
1. New
					 section filed 11-25-96; operative 12-25-96 (Register 96, No.
					 48).
Note: Authority cited: Section
						50304,
						Financial Code. Reference: Sections
						50301 and
						50314,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.5 › Article 9 - Books and Records › Section 1950.314.4 - Books and Records

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  Each licensee shall maintain a loan log which shall be kept current according
				  to the record maintenance procedures of the licensee and shall be produced for
				  examination by the Commissioner. Any report which the licensee generates may be
				  substituted for the loan log. At a minimum, the loan log or its substitute
				  shall contain the following with respect to each loan application received
				  during the previous 36 months:
(1) Application
				  Date;
(2) Borrower Name;
(3) Property Address;
(4) Loan Amount;
(5) Terms, Loan Program;
(6) Loan Officer; and
(7) If closed, disposition of the loan and
				  servicing.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.5 › Article 9 - Books and Records › Section 1950.314.5 - Statements of Account

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A residential mortgage lender, residential mortgage lender
					 and servicer, or residential mortgage loan servicer shall supply its borrowers
					 with statements of account which show the transactions and current position of
					 the borrower. The statements of account may show only the transactions for the
					 period covered and the current positions and must be sent to the borrowers
					 annually.
1. New
					 section filed 11-25-96; operative 12-25-96 (Register 96, No.
					 48).
Note: Authority cited: Section
						50304,
						Financial Code. Reference: Sections
						50124,
						50301 and
						50314,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.5 › Article 9 - Books and Records › Section 1950.314.6 - Debit Balances Prohibited

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A residential mortgage lender, residential mortgage lender
					 and servicer, or residential mortgage loan servicer shall not withdraw, pay
					 out, or transfer moneys from any loan or servicing account in excess of the
					 amount to the credit of the account at the time of the withdrawal, payment, or
					 transfer.
However, a residential mortgage lender, residential
					 mortgage lender and servicer, or residential mortgage loan servicer may advance
					 its own funds to a loan or servicing account under an impound arrangement to
					 pay taxes, insurance, and other payments, if the required withdrawal, payment,
					 or transfer exceeds the amount of the credit for the account.
1. New
					 section filed 11-25-96; operative 12-25-96 (Register 96, No.
					 48).
Note: Authority cited: Section
						50304,
						Financial Code. Reference: Sections
						50124,
						50202,
						50301 and
						50314,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.5 › Article 9 - Books and Records › Section 1950.314.7 - Payment Processing

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A licensee shall credit any payment made to a borrower's
					 account on the same business day the payment is received by the licensee,
					 regardless of the date of processing. As a general rule, a licensee shall
					 process any payment to a borrower's account within two business days from the
					 business day the payment is received by the licensee.
1. New
					 section filed 11-25-96; operative 12-25-96 (Register 96, No.
					 48).
Note: Authority cited: Section
						50304,
						Financial Code. Reference: Section
						50314,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.5 › Article 10 - Reports to the Commissioner › Section 1950.317 - Report of Defalcation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A residential mortgage lender, residential mortgage lender
					 and servicer, mortgage servicer, or mortgage loan originator shall immediately
					 report to the Commissioner any defalcation, embezzlement or theft made, or
					 reasonably believed by the company to have been made, by any of its officers,
					 directors, partners, shareholders controlling 10 percent or more of the
					 ownership interests, trustees or employees (as "employee" is defined in
					 subdivision (h) of Section
					 50317 of the
					 Code).
1. New
					 article 10 (sections
					 1950.316-1950.317) and section
					 filed 11-25-96; operative 12-25-96 (Register 96, No. 48).
2.
					 Amendment filed 4-1-2010 as an emergency; operative 4-1-2010 (Register 2010,
					 No. 14). A Certificate of Compliance must be transmitted to OAL by 9-28-2010 or
					 emergency language will be repealed by operation of law on the following
					 day.
3. Amendment refiled 9-28-2010 as an emergency; operative
					 9-28-2010 (Register 2010, No. 40). A Certificate of Compliance must be
					 transmitted to OAL by 12-27-2010 or emergency language will be repealed by
					 operation of law on the following day.
4. Amendment refiled
					 12-23-2010 as an emergency; operative 12-23-2010 (Register 2010, No. 52). A
					 Certificate of Compliance must be transmitted to OAL by 3-23-2011 or emergency
					 language will be repealed by operation of law on the following
					 day.
5. Certificate of Compliance as to 12-23-2010 order transmitted
					 to OAL 3-14-2011 and filed 4-25-2011 (Register 2011, No.
					 17).
Note: Authority cited: Section
						50304,
						Financial Code. Reference: Section
						50317,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 13 - Deferred Deposit Transaction Law › Article 2 - Books and Records › Section 2025 - Books and Records: Standard for Keeping

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) For purposes of this section, the term
				  "long form application" means the initial application submitted to the
				  Department to conduct deferred deposit transactions in California under Section
				  2020 of these rules.
(b) A licensee shall maintain the following
				  books, records and accounts at the licensed place of business provided in its
				  long form application, provided that records maintained at the each additional
				  location are available at the licensed location within 24 hours of request:
				  records demonstrating minimum net worth requirements in compliance with Section
				  23007 of
				  the Financial Code including quarterly unaudited balance sheets, records
				  demonstrating surety bond requirements in compliance with Section
				  23013 of
				  the Financial Code, a list of licensed locations by address and license number,
				  the advertising file as provided in subsection (f), bank or other financial
				  institution statements, and any other records identified by written demand of
				  the Commissioner.
(c)
(1) Except as provided in subsection (e),
				  records to be maintained at each licensed business location for each deferred
				  deposit transaction shall include at least the following: the deferred deposit
				  transaction agreement, evidence of the check, written disclosure(s) used to
				  provide notice in compliance with subdivision (c) of Section
				  23035 of
				  the Financial Code, record of any and all extensions of time or payment plans
				  for repayment of an existing deferred deposit transaction, record of time
				  periods for each transaction, record of transaction fees and charges, and
				  record of transaction payments.
(2)
				  Records to be maintained at each licensed business location may include the
				  advertising file as provided in subsection (f) and bank or other financial
				  institution statements, in lieu of maintaining these records as set forth in
				  subsection (b).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 13 - Deferred Deposit Transaction Law › Article 2 - Books and Records › Section 2026 - Maintenance of Books and Records

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A deferred deposit originator shall maintain its books,
					 accounts and records in accordance with generally accepted accounting
					 principles and good business practices.
1. New
					 section filed 1-25-2006; operative 1-25-2006 pursuant to Government Code
					 section
					 11343.4
					 (Register 2006, No. 4).
Note: Authority cited: Section
						23015,
						Financial Code. Reference: Sections
						23024 and
						23046,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 13 - Deferred Deposit Transaction Law › Article 2 - Books and Records › Section 2027 - Records Maintained at Multiple Locations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A deferred deposit originator shall maintain separate
					 deferred deposit transaction records for each licensed business location in
					 accordance with the provisions of this article, in order to distinguish each
					 licensed business location and operations from other licensed business
					 locations or operations subject to this subchapter. A deferred deposit
					 originator shall maintain separate deferred deposit transaction records from
					 those deferred deposit transaction records maintained by any other business
					 that is transacted at the same office, room, or place of business. Nothing in
					 this section shall be construed to prohibit a deferred deposit originator from
					 maintaining one bank account or one database for all licensed locations,
					 provided that the records of each licensed location can be identified and
					 distinguished.
1. New
					 section filed 1-25-2006; operative 1-25-2006 pursuant to Government Code
					 section
					 11343.4
					 (Register 2006, No. 4).
Note: Authority cited: Section
						23015,
						Financial Code. Reference: Sections
						23024 and
						23046,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 13 - Deferred Deposit Transaction Law › Article 2 - Books and Records › Section 2028 - Transfers Involving Affiliates

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Whenever any deferred deposit transaction is sold,
					 transferred or assigned, within the same business outside the State for any
					 reason, or to an affiliate wherever located for any reason, a deferred deposit
					 originator shall maintain at its licensed location, the original or exact copy
					 of the deferred deposit transaction agreement and any other disclosure
					 statements used to provide notice in compliance with Section
					 23035 of
					 the Financial Code, payment record and a record identifying the deferred
					 deposit transaction, the date of transfer, and the name and location of the
					 receiving office. However, when a loan is sold, transferred, or assigned to
					 another licensed location of the same business within the State of California,
					 only a record identifying the deferred deposit transaction, the date of
					 transfer, and the receiving office need be maintained by the sending office and
					 thereafter the licensed location receiving that deferred deposit transaction
					 shall maintain the required documents in its files.
1. New
					 section filed 1-25-2006; operative 1-25-2006 pursuant to Government Code
					 section
					 11343.4
					 (Register 2006, No. 4).
Note: Authority cited: Section
						23015,
						Financial Code. Reference: Sections
						23024,
						23035 and
						23046,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 13 - Deferred Deposit Transaction Law › Article 2 - Books and Records › Section 2029 - Transfers Involving Unaffiliated Entities

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Whenever any deferred deposit transaction is sold,
					 transferred or assigned to an unaffiliated entity, the deferred deposit
					 originator relinquishing the deferred deposit transaction shall maintain at its
					 licensed location the original or an exact copy of the deferred deposit
					 transaction agreement and all papers and other documents relating to such
					 transaction, including evidence of the check, as provided by the
					 law.
1. New
					 section filed 1-25-2006; operative 1-25-2006 pursuant to Government Code
					 section
					 11343.4
					 (Register 2006, No. 4).
Note: Authority cited: Section
						23015,
						Financial Code. Reference: Sections
						23024,
						23035 and
						23046,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 14 - California Foreclosure Prevention Act [Repealed] › Article 1 - Requirements [Repealed] › Section 2031.1 - Scope of Regulations. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 subchapter 14 (articles 1-4, sections
					 2031.1-2031.10) article 1
					 (sections 2031.1-2031.6) and section filed
					 6-1-2009 as an emergency; operative 6-1-2009 (Register 2009, No. 23). A
					 Certificate of Compliance must be transmitted to OAL by 11-30-2009 or emergency
					 language will be repealed by operation of law on the following
					 day.
2. New subchapter 14 (articles 1-4, sections
					 2031.1-2031.10) article 1
					 (sections 2031.1-2031.6) and section refiled
					 12-1-2009 as an emergency; operative 12-1-2009 (Register 2009, No. 49). A
					 Certificate of Compliance must be transmitted to OAL by 3-1-2010 or emergency
					 language will be repealed by operation of law on the following
					 day.
3. Certificate of Compliance as to 12-1-2009 order, including
					 amendment of subsection (b), transmitted to OAL 3-1-2010 and filed 4-13-2010
					 (Register 2010, No. 16).
4. Change without regulatory effect
					 repealing subchapter 14 (articles 1-4, sections
					 2031.1-2031.10), article 1
					 (sections 2031.1-2031.6) and section filed
					 8-13-2014 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2014, No. 33).
Note: Authority cited: Section
						2923.53(d),
						Civil Code. Reference: Sections
						2923.52 and
						2923.53, Civil
						Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 14 - California Foreclosure Prevention Act [Repealed] › Article 1 - Requirements [Repealed] › Section 2031.2 - Eligibility. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 6-1-2009 as an emergency; operative 6-1-2009 (Register 2009, No.
					 23). A Certificate of Compliance must be transmitted to OAL by 11-30-2009 or
					 emergency language will be repealed by operation of law on the following
					 day.
2. New section refiled 12-1-2009 as an emergency; operative
					 12-1-2009 (Register 2009, No. 49). A Certificate of Compliance must be
					 transmitted to OAL by 3-1-2010 or emergency language will be repealed by
					 operation of law on the following day.
3. Certificate of Compliance
					 as to 12-1-2009 order transmitted to OAL 3-1-2010 and filed 4-13-2010 (Register
					 2010, No. 16).
4. Change without regulatory effect repealing section
					 filed 8-13-2014 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2014, No. 33).
Note: Authority cited: Section
						2923.53(d),
						Civil Code. Reference: Sections
						2923.52 and
						2923.53, Civil
						Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 14 - California Foreclosure Prevention Act [Repealed] › Article 1 - Requirements [Repealed] › Section 2031.3 - Availability. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 6-1-2009 as an emergency; operative 6-1-2009 (Register 2009, No.
					 23). A Certificate of Compliance must be transmitted to OAL by 11-30-2009 or
					 emergency language will be repealed by operation of law on the following
					 day.
2. New section refiled 12-1-2009 as an emergency; operative
					 12-1-2009 (Register 2009, No. 49). A Certificate of Compliance must be
					 transmitted to OAL by 3-1-2010 or emergency language will be repealed by
					 operation of law on the following day.
3. Certificate of Compliance
					 as to 12-1-2009 order transmitted to OAL 3-1-2010 and filed 4-13-2010 (Register
					 2010, No. 16).
4. Change without regulatory effect repealing section
					 filed 8-13-2014 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2014, No. 33).
Note: Authority cited: Section
						2923.53(d),
						Civil Code. Reference: Sections
						2923.52 and
						2923.53, Civil
						Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 14 - California Foreclosure Prevention Act [Repealed] › Article 1 - Requirements [Repealed] › Section 2031.4 - Program Requirements. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 6-1-2009 as an emergency; operative 6-1-2009 (Register 2009, No.
					 23). A Certificate of Compliance must be transmitted to OAL by 11-30-2009 or
					 emergency language will be repealed by operation of law on the following
					 day.
2. New section refiled 12-1-2009 as an emergency; operative
					 12-1-2009 (Register 2009, No. 49). A Certificate of Compliance must be
					 transmitted to OAL by 3-1-2010 or emergency language will be repealed by
					 operation of law on the following day.
3. Certificate of Compliance
					 as to 12-1-2009 order transmitted to OAL 3-1-2010 and filed 4-13-2010 (Register
					 2010, No. 16).
4. Change without regulatory effect repealing section
					 filed 8-13-2014 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2014, No. 33).
Note: Authority cited: Section
						2923.53(d),
						Civil Code. Reference: Sections
						2923.52 and
						2923.53, Civil
						Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 14 - California Foreclosure Prevention Act [Repealed] › Article 1 - Requirements [Repealed] › Section 2031.5 - Loan Modification Features. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 6-1-2009 as an emergency; operative 6-1-2009 (Register 2009, No.
					 23). A Certificate of Compliance must be transmitted to OAL by 11-30-2009 or
					 emergency language will be repealed by operation of law on the following
					 day.
2. New section refiled 12-1-2009 as an emergency; operative
					 12-1-2009 (Register 2009, No. 49). A Certificate of Compliance must be
					 transmitted to OAL by 3-1-2010 or emergency language will be repealed by
					 operation of law on the following day.
3. Certificate of Compliance
					 as to 12-1-2009 order transmitted to OAL 3-1-2010 and filed 4-13-2010 (Register
					 2010, No. 16).
4. Change without regulatory effect repealing section
					 filed 8-13-2014 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2014, No. 33).
Note: Authority cited: Section
						2923.53(d),
						Civil Code. Reference: Sections
						2923.52 and
						2923.53, Civil
						Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 14 - California Foreclosure Prevention Act [Repealed] › Article 1 - Requirements [Repealed] › Section 2031.6 - Other Requirements for Comprehensive Loan Modification Programs. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 6-1-2009 as an emergency; operative 6-1-2009 (Register 2009, No.
					 23). A Certificate of Compliance must be transmitted to OAL by 11-30-2009 or
					 emergency language will be repealed by operation of law on the following
					 day.
2. New section refiled 12-1-2009 as an emergency; operative
					 12-1-2009 (Register 2009, No. 49). A Certificate of Compliance must be
					 transmitted to OAL by 3-1-2010 or emergency language will be repealed by
					 operation of law on the following day.
3. Certificate of Compliance
					 as to 12-1-2009 order transmitted to OAL 3-1-2010 and filed 4-13-2010 (Register
					 2010, No. 16).
4. Change without regulatory effect repealing section
					 filed 8-13-2014 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2014, No. 33).
Note: Authority cited: Section
						2923.53(d),
						Civil Code. Reference: Sections
						2923.52 and
						2923.53, Civil
						Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 14 - California Foreclosure Prevention Act [Repealed] › Article 2 - Application [Repealed] › Section 2031.7 - Initial Application. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 article 2 (sections
					 2031.7-2031.8) and section filed
					 6-1-2009 as an emergency; operative 6-1-2009 (Register 2009, No. 23). A
					 Certificate of Compliance must be transmitted to OAL by 11-30-2009 or emergency
					 language will be repealed by operation of law on the following
					 day.
2. New article 2 (sections
					 2031.7-2031.8) and section refiled
					 12-1-2009 as an emergency; operative 12-1-2009 (Register 2009, No. 49). A
					 Certificate of Compliance must be transmitted to OAL by 3-1-2010 or emergency
					 language will be repealed by operation of law on the following
					 day.
3. Certificate of Compliance as to 12-1-2009 order transmitted
					 to OAL 3-1-2010 and filed 4-13-2010 (Register 2010, No. 16).
4.
					 Change without regulatory effect repealing article 2 (sections
					 2031.7-2031.8) and section filed
					 8-13-2014 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2014, No. 33).
Note: Authority cited: Section
						2923.53(d),
						Civil Code. Reference: Sections
						2923.52 and
						2923.53, Civil
						Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 14 - California Foreclosure Prevention Act [Repealed] › Article 2 - Application [Repealed] › Section 2031.8 - Changes to Program After Final Order. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 6-1-2009 as an emergency; operative 6-1-2009 (Register 2009, No.
					 23). A Certificate of Compliance must be transmitted to OAL by 11-30-2009 or
					 emergency language will be repealed by operation of law on the following
					 day.
2. New section refiled 12-1-2009 as an emergency; operative
					 12-1-2009 (Register 2009, No. 49). A Certificate of Compliance must be
					 transmitted to OAL by 3-1-2010 or emergency language will be repealed by
					 operation of law on the following day.
3. Certificate of Compliance
					 as to 12-1-2009 order transmitted to OAL 3-1-2010 and filed 4-13-2010 (Register
					 2010, No. 16).
4. Change without regulatory effect repealing section
					 filed 8-13-2014 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2014, No. 33).
Note: Authority cited: Section
						2923.53(d),
						Civil Code. Reference: Sections
						2923.52 and
						2923.53, Civil
						Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 14 - California Foreclosure Prevention Act [Repealed] › Article 3 - Application Form [Repealed] › Section 2031.9

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 article 3 (section
					 2031.9) and section filed 6-1-2009
					 as an emergency; operative 6-1-2009 (Register 2009, No. 23). A Certificate of
					 Compliance must be transmitted to OAL by 11-30-2009 or emergency language will
					 be repealed by operation of law on the following day.
2. New article
					 3 (section
					 2031.9) and section refiled
					 12-1-2009 as an emergency; operative 12-1-2009 (Register 2009, No. 49). A
					 Certificate of Compliance must be transmitted to OAL by 3-1-2010 or emergency
					 language will be repealed by operation of law on the following
					 day.
3. Certificate of Compliance as to 12-1-2009 order transmitted
					 to OAL 3-1-2010 and filed 4-13-2010 (Register 2010, No. 16).
4.
					 Change without regulatory effect repealing article 3 (section
					 2031.9) and section filed
					 8-13-2014 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2014, No. 33).
Note: Authority cited: Section
						2923.53(d),
						Civil Code. Reference: Sections
						2923.52 and
						2923.53, Civil
						Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 14 - California Foreclosure Prevention Act [Repealed] › Article 4 - Data Collection [Repealed] › Section 2031.10 - Reports. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 article 4 (section
					 2031.10) and section filed
					 6-1-2009 as an emergency; operative 6-1-2009 (Register 2009, No. 23). A
					 Certificate of Compliance must be transmitted to OAL by 11-30-2009 or emergency
					 language will be repealed by operation of law on the following
					 day.
2. New article 4 (section
					 2031.10) and section refiled
					 12-1-2009 as an emergency; operative 12-1-2009 (Register 2009, No. 49). A
					 Certificate of Compliance must be transmitted to OAL by 3-1-2010 or emergency
					 language will be repealed by operation of law on the following
					 day.
3. Certificate of Compliance as to 12-1-2009 order, including
					 amendment of subsection (b), transmitted to OAL 3-1-2010 and filed 4-13-2010
					 (Register 2010, No. 16).
4. Change without regulatory effect
					 repealing article 4 (section
					 2031.10) and section filed
					 8-13-2014 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2014, No. 33).
Note: Authority cited: Section
						2923.53(d),
						Civil Code. Reference: Sections
						2923.52 and
						2923.53, Civil
						Code.