reglab/statecodes huggingface dataset:
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1789.11 - Maintenance of Advertising Copy

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A prorater shall maintain for inspection
				  by the Commissioner a file of all advertising copy for a period of at least
				  ninety (90) days after the last date of its use.
(b) All advertising copy shall have noted
				  thereon the name or names of all advertising media used and the dates when such
				  advertising appeared.
(c) In the
				  case of radio or television advertising, unless full text of such announcements
				  is maintained for at least ninety (90) days after the date of its last use by
				  the broadcasting station or stations and is therein available, a prorater shall
				  have a voice transcription of the full text of such announcements to be
				  prepared and retained for the ninety (90) day period,
1. Amendment
					 filed 3-20-78; effective thirtieth day thereafter (Register 78, No.
					 12).
2. Amendment filed 8-9-83; effective thirtieth day thereafter
					 (Register 83, No. 33).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Sections
						12311 and
						12330,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1789.12 - Prohibited Advertising. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer
					 filed 8-9-83; effective thirtieth day thereafter (Register 83, No.
					 33).
Note: Authority cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1789.13 - Rates of Charge. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer
					 filed 8-9-83; effective thirtieth day thereafter (Register 83, No.
					 33).
Note: Authority cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1789.14 - General Prorater Fees

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A prorater is not a creditor of a debtor
				  for purposes of calculating fees pursuant to Section
				  12314 of
				  the Financial Code. A prorater may not assess, charge, or collect a fee on any
				  sums or debts due the prorater.
(b)
				  The origination fee permitted by Section
				  12314
				  (a) of the Financial Code shall be disclosed
				  in writing to the debtor at the time of execution of the prorate agreement or
				  contract and shall specify the amount of the origination fee and the terms and
				  conditions for payment of the fee.
(c) Only one origination fee may be charged
				  to a debtor (husband and wife shall be considered one debtor) regardless of the
				  number of times a contract or agreement is rewritten or revised.
(d) An origination fee shall not be charged a
				  debtor who has had an account cancelled or defaulted within 30 days prior to
				  the opening of the new account; provided, further, that a debtor shall not be
				  charged more than two origination fees.
(e) An origination fee shall not be charged a
				  debtor who has had an account cancelled or defaulted within the past three
				  months and has been assessed a cancellation fee.
1. New
					 section filed 1-22-74; effective thirtieth day thereafter (Register 74, No.
					 4).
2. Editorial correction adding NOTE filed 4-6-83 (Register 83,
					 No. 15).
3. Editorial correction of subsection (b) (Register 95, No.
					 48).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Sections
						12314,
						12315 and
						12315.1,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 3 - Books, Records and Examinations › Section 1789.15 - Disbursement of Funds. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 1-22-74; effective thirtieth day thereafter (Register 74, No.
					 4).
2. Repealer filed 8-9-83; effective thirtieth day thereafter
					 (Register 83, No. 33).
Note: Authority cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 4 - Bonds and Insurance › Section 1790 - Fidelity Bond for Officers and Employees

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A licensee engaged in the business of selling checks or
					 accepting money for the purpose of forwarding it to others in payment of
					 utility bills should obtain and file with the Commissioner a fidelity bond
					 providing fidelity coverage on each officer and employee of not less than
					 $50,000. The fidelity bond may be either a primary commercial blanket bond or a
					 blanket position bond, but shall be written by an insurer who has been licensed
					 by the Department of Insurance of the State of California. The bond shall
					 contain a rider which provides that the coverage of the bond extends to all
					 officers and employees of the insured whether or not such officers and
					 employees are compensated by the insured.
A licensee should maintain minimum fidelity coverage in
					 accordance with the following schedule:
Monthly
							 average liability
Minimum
							 coverage
Up
							 to.....................................
..........................$50,000.............
..........................$50,000
$50,001
to..........................
60,000
55,000
60,001
to..........................
70,000
60,000
70,001
to..........................
80,000
65,000
80,001
to..........................
90,000
70,000
90,001
to..........................
100,000
75,000
100,001
to..........................
115,000
80,000
115,001
to..........................
145,000
90,000
145,001
to..........................
175,000
100,000
175,001
to..........................
200,000
110,000
and additional coverage at the rate of 25 percent of any
					 monthly average in excess of $200,000.
The minimum fidelity coverage required of a licensee as set
					 forth herein shall be obtained and maintained in effect unless the Commissioner
					 for good cause, in writing, has found that a different amount of coverage would
					 be in the public interest.
1. Amendment
					 filed 12-31-58; effective thirtieth day thereafter (Register 59, No.
					 1).
2. Amendment filed 6-11-82; effective thirtieth day thereafter
					 (Register 82, No. 24).
3. Change without regulatory effect amending
					 last paragraph filed 6-26-96 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 96, No. 26).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Section
						12223,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 4 - Bonds and Insurance › Section 1790.1 - Fidelity Bonds for Agent

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A licensee engaged in the business of selling checks or
					 accepting money for the purpose of forwarding it to others in payment of
					 utility bills shall obtain and keep in effect at all times a fidelity bond on
					 each agent of the licensee in a principal amount sufficient to protect the
					 licensee against substantial loss. If the liability of an agent to the licensee
					 for any three consecutive business days exceeds $5,000, the licensee should be
					 protected from loss by a fidelity bond in a principal amount at least equal to
					 the highest liability of the agent to licensee for any three consecutive
					 business days, unless the Commissioner for good cause, in writing, has found
					 that a different amount of coverage would be in the public
					 interest.
1. New
					 section filed 12-31-58; effective thirtieth day thereafter (Register 59, No.
					 1).
2. Editorial correction of NOTE filed 4-6-83 (Register 83, No.
					 15).
3. Change without regulatory effect amending section filed
					 6-26-96 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 96, No. 26).
4. Change without regulatory
					 effect amending section filed 2-28-2000 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2000, No. 9).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Section
						12223,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 4 - Bonds and Insurance › Section 1790.2 - Fidelity Bond for Proraters

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A licensee engaged in business as a general or special
					 prorater shall obtain and file with the Commissioner and maintain in effect
					 primary commercial blanket bond or a blanket position bond against the loss of
					 money or property in the possession of the licensee. Each officer, employee,
					 and agent having access to money in the possession of the licensee or drawing
					 checks against the account of the licensee, shall be bonded in a principal
					 amount of at least $10,000. The Commissioner may for good cause and based upon
					 financial information require a bond in a different principal amount if the
					 Commissioner finds such change to be in the public interest.
1. New
					 section filed 12-31-58; effective thirtieth day thereafter (Register 59, No.
					 1).
2. Amendment filed 6-11-82; effective thirtieth day thereafter
					 (Register 82, No. 24).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Section
						12223,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 4 - Bonds and Insurance › Section 1791 - Insurance, Holdup and Burglary. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer
					 filed 6-11-82; effective thirtieth day thereafter (Register 82,.No.
					 24).
Note: Authority cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 4 - Bonds and Insurance › Section 1792 - Corporate Surety. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer
					 filed 6-11-82; effective thirtieth day thereafter (Register 82, No.
					 24).
Note: Authority cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 4 - Bonds and Insurance › Section 1793 - New Employees

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A licensee shall notify the Commissioner in writing of the
					 names of any new officers, employees, and agents within 10 days after
					 employment and have on file with the Commissioner a bond in accordance with
					 Section 1790 of these Rules, before
					 allowing any officer, employee, or agent in the regular discharge of his/her
					 duties to have access to moneys or negotiable securities belonging to or in the
					 possession of the licensee, or to draw checks upon the licensee or the trust
					 funds of the licensee.
1. New
					 section filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Amendment filed 12-31-58; effective thirtieth day thereafter
					 (Register 59, No. 1).
3. Amendment filed 6-11-82; effective
					 thirtieth day thereafter (Register 82, No. 24).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Sections
						12220 and
						12223,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 5 - Notices › Section 1795 - Schedule of Fees. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Amendment
					 filed 3-27-52, effective thirtieth day thereafter (Register 28, No.
					 1).
2. Repealer filed 9-15-82; effective thirtieth day thereafter
					 (Register 82, No. 38).
Note: Authority cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 5 - Notices › Section 1796 - Branch Office Sign. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Amendment
					 filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Amendment filed 12-31-58; effective thirtieth day thereafter
					 (Register 59, No. 1).
3. Repealer filed 9-15-82; effective thirtieth
					 day thereafter (Register 82, No. 38).
Note: Authority cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 5 - Notices › Section 1797 - Branch Office Notification. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer
					 filed 9-15-82; effective thirtieth day thereafter (Register 82, No.
					 38).
Note: Authority cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 5 - Notices › Section 1798 - Notice of Actions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A licensee shall immediately notify the Commissioner in
					 writing of any civil or criminal action filed against the licensee or any of
					 its officers or directors.
1. New
					 section filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Amendment filed 3-20-78; effective thirtieth day thereafter
					 (Register 78, No. 12).
3. Editorial correction adding NOTE filed
					 11-17-82 (Register 82, No. 47).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Section
						12221 and
						12400,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 5 - Notices › Section 1799 - Required Provisions in Contracts Between Proraters and Debtors

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A contract between the prorater and debtor customer must
					 include a statement in not less than 12-point bold face capital letters:
FOR INFORMATION CONTACT THE DEPARTMENT OF BUSINESS
					 OVERSIGHT, STATE OF CALIFORNIA
1. New
					 section filed 3-27-52; effective thirtieth day thereafter (Register 28, No.
					 1).
2. Amendment filed 1-22-74; effective thirtieth day thereafter
					 (Register 74, No. 4).
3. Amendment filed 9-15-82 effective thirtieth
					 day thereafter (Register 82, No. 38).
4. Change without regulatory
					 effect amending section filed 8-13-2014 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2014, No. 33).
Note: Authority cited: Section
						12300,
						Financial Code. Reference: Section
						12319,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 5 - Notices › Section 1799.1 - Change of Address, Area or Registration Number. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 3-27-52, effective thirtieth day thereafter (Register 28, No.
					 1).
2. Amendment filed 3-20-78; effective thirtieth day thereafter
					 (Register 78, No. 12).
3. Repealer filed 9-15-82 effective thirtieth
					 day thereafter (Register 82, No. 38).
Note: Authority cited: Section
						12300,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 10 - Check Sellers, Bill Payers and Proraters › Article 6 - Accusations and Hearings [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer of
				  Article 6 (Sections
				  1801-1805) filed 12-3-81;
				  effective thirtieth day thereafter (Register 81, No. 49). For prior history,
				  see Register 78, No. 12.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11 - Securities Depositories › Section 1805.001 - Definitions Governing Construction of Rules

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Unless the condition otherwise requires, the definitions set
				  forth in the Securities Depository Law govern the construction of these
				  rules.
1. New section
				  filed 8-9-83; effective thirtieth day thereafter (Register 83, No. 33). For
				  prior history, see Register 73, No. 10.
Note: Authority cited: Section
					 30006,
					 Financial Code. Reference: Section
					 30001,
					 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11 - Securities Depositories › Section 1805.201 - Stockholders

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The articles of incorporation or the bylaws of a securities
				  depository shall include provisions by which it, or the holders of its capital
				  stock, can enforce the provisions of Section
				  30201 of
				  the Financial Code.
1. New
				  Subchapter 11 (1805.201, 1805.204, 1805.204.1, 1805.210, 1805.210.1, 1805.213,
				  1805.213.1) filed 3-7-73 as an emergency; designated effective 3-7-73.
				  Certificate of Compliance included (Register 73, No. 10).
2.
				  Editorial correction of NOTE filed 3-9-83 (Register 83, No.
				  11).
Note: Authority cited: Section
					 30006,
					 Financial Code. Reference: Section
					 30201,
					 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11 - Securities Depositories › Section 1805.205 - Prohibition

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A securities depository shall not loan or pledge depositors'
				  securities for its own account.
1. New section
				  filed 9-12-73; effective thirtieth day thereafter (Register 73, No.
				  37).
2. Editorial correction of NOTE filed 3-9-83 (Register 83, No.
				  11).
3. Editorial correction of NOTE filed 6-24-83 (Register 83, No.
				  26).
Note: Authority cited: Section
					 30006,
					 Financial Code. Reference: Sections
					 30205,
					 30206 and
					 30601,
					 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11 - Securities Depositories › Section 1805.205.1 - Fidelity Bond

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The securities depository shall keep in effect at all times a
				  fidelity bond providing coverage on each officer and employee, written by a
				  corporate surety licensed by the Department of Insurance of the State of
				  California, in an amount satisfactory to the Commissioner, and ordinarily not
				  less than $1,000,000 or 10% of the aggregate market value of all securities on
				  deposit.
1. New section
				  filed 9-12-73; effective thirtieth.day thereafter (Register 73, No.
				  37).
2. Editorial correction of NOTE filed 3-9-83 (Register 83, No.
				  11).
3. Editorial correction of NOTE filed 6-24-83 (Register 83, No.
				  26).
Note: Authority cited: Section
					 30006,
					 Financial Code. Reference: Sections
					 30205,
					 30206 and
					 30601,
					 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11 - Securities Depositories › Section 1805.206 - Dividend Distribution

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Any dividends received by the securities depository with
				  respect to depositors' securities shall be distributed to the depositor no
				  later than three (3) days after receipt of the dividends by the securities
				  depository.
1. New section
				  filed 9-12-73; effective thirtieth day thereafter (Register 73, No.
				  37).
2. Editorial correction of NOTE filed 3-9-83 (Register 83, No.
				  11).
3. Editorial correction of NOTE filed 6-24-83 (Register 83, No.
				  26).
Note: Authority cited: Section
					 30006,
					 Financial Code. Reference: Sections
					 30206,
					 30603 and
					 30608,
					 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11 - Securities Depositories › Section 1805.206.1 - Proxy Statement and Proxy Distribution

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Any statement and proxy received by the securities depository
				  with respect to depositors' securities shall be forwarded immediately to the
				  depositor. Further, no securities depository shall vote any such proxies,
				  except in accordance with and pursuant to the written instructions of the
				  depositor.
1. New section
				  filed 9-12-73; effective thirtieth day thereafter (Register 73, No.
				  37).
2. Editorial correction of NOTE filed 3-9-83 (Register 83, No.
				  11).
3. Editorial correction of NOTE filed 6-24-83 (Register 83, No.
				  26).
Note: Authority cited: Section
					 30006,
					 Financial Code. Reference: Sections
					 30206,
					 30603 and
					 30608,
					 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11 - Securities Depositories › Section 1805.210.1 - Preservation of Records

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Every licensed securities depository shall preserve its
				  records in the manner prescribed under subdivision (d) of Section
				  1805.210 of these rules and in
				  accordance with the following requirements:
(a) There shall be preserved for a period of
				not less than 10 years, the first two of which shall be in an easily accessible
				place:
(1) All records required to be made
				pursuant to subsection (a) (1), (2) and (3) of Section
				1805.210 of these rules.
(2) All records required to be made pursuant
				to subsection (a) (8) of Section
				1805.210 of these rules, including
				all working papers in connection therewith.
(3) Copies of all reports required to be
				filed with the Commissioner under Section
				30213 of
				the Financial Code, together with all correspondence with the Commissioner
				thereon.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11 - Securities Depositories › Section 1805.213 - Reports

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A securities depository shall file with the Commissioner,
				  within 11 days after the close of any month (i) in which it became or was
				  determined to be insolvent or (ii) in which it incurred a loss in an amount
				  exceeding one-third of its net worth as of the close of such month, and within
				  15 days after the close of each month thereafter, its financial statements as
				  of the close of the month for which such report is made. Such financial
				  statements shall include a balance sheet and a profit and loss statement which
				  need not be audited but which shall be prepared on a basis consistent with the
				  financial statements filed, or to be filed, pursuant to subdivision (a) of
				  Section
				  30213 of
				  the Financial Code.
1. Editorial
				  correction adding NOTE filed 3-9-83 (Register 83, No.
				  11).
Note: Authority cited: Section
					 30006,
					 Financial Code. Reference: Section
					 30213,
					 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11 - Securities Depositories › Section 1805.213.1 - Notice of Changes

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Each licensed securities depository shall, upon any change in
				  the information contained in its application for a certificate (other than
				  financial information contained therein) promptly file an amendment to such
				  application upon the form prescribed in Section
				  1805.204 of these rules setting
				  forth the changed information (and in any event within 30 days after the change
				  occurs).
1. Editorial
				  correction adding NOTE filed 3-9-83 (Register 83, No.
				  11).
Note: Authority cited; Section
					 30006,
					 Financial Code. Reference: Section
					 30213,
					 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.3 - Debt Collection Licensing Act › Article 2 - Application for Licensure and Related Forms › Section 1850.6 - Electronic Filings

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  DESIGNATION: The Commissioner designates NMLS to receive and store filings,
				  obtain credit reports, and collect related fees and assessments from applicants
				  and licensees on behalf of the Commissioner.
(b) USE OF NMLS: All applications,
				  amendments, surety bonds, notices, related filings, supporting documents,
				  renewals, authorizations, assessments, and fees required to be filed with the
				  Commissioner shall be filed electronically with and transmitted to NMLS, except
				  as otherwise indicated in this subchapter. The following conditions relate to
				  electronic filings:
(1) Electronic Signature:
				  When a signature(s) is required by the particular instructions of any filing,
				  including any attestation to be made through NMLS, the applicant, or a duly
				  authorized officer or proper delegate of the applicant, as required, shall
				  affix his or her electronic signature to the filing by typing his or her name
				  in the appropriate field and submitting the filing to the Commissioner through
				  NMLS. Submission of a filing in this manner shall constitute irrefutable
				  evidence of legal signature by any individual making the filing.
(2) When filed: Solely for purposes of a
				  filing made through NMLS. Unless otherwise specified, a document is considered
				  filed with the Commissioner when all fees are received and the filing is
				  transmitted by NMLS to the Commissioner.
(3) An applicant shall provide through NMLS
				  the necessary authorizations so that NMLS may obtain credit reports.
(4) Any document required to be filed with
				  the Commissioner that is not permitted to be filed with or cannot be filed with
				  NMLS shall be filed directly with the Commissioner.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.3 - Debt Collection Licensing Act › Article 2 - Application for Licensure and Related Forms › Section 1850.6.1 - Language

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Each document filed with the Commissioner shall be in the
					 English language. However, whenever the Commissioner requires that a document
					 that is not in the English language be filed with the Commissioner, such
					 document shall, when filed with the Commissioner, be accompanied by an English
					 translation, and there shall be attached to or endorsed on such English
					 translation a certificate signed by the translator certifying that the
					 translation is a true translation in the English language of the document. If
					 the document or any document of which such document is a part is required to be
					 verified, the certificate of the translator shall be verified.
Note: Authority cited: Section 100003, Financial Code.
						Reference: Section 100009, Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.3 - Debt Collection Licensing Act › Article 2 - Application for Licensure and Related Forms › Section 1850.7 - License Application for Debt Collector

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The procedures set forth in this section are applicable to
					 a person who is required to be licensed as a debt collector pursuant to Section
					 100001, subdivision (a), of the Financial Code. The application for a license
					 shall be filed as follows:
(a) INITIAL
				  APPLICATION: The applicant shall complete and file Form MU1 in accordance with
				  the instructions of NMLS for transmission to the Commissioner. All exhibits and
				  supporting documents related to the application or amendment required by NMLS
				  or identified in this section shall also be filed with NMLS, in accordance with
				  the instructions of NMLS for transmission to the Commissioner. Exhibits that
				  cannot be filed with NMLS, if any, shall be filed directly with the
				  Commissioner. The notices set forth in Section 1850.11 of these rules are part
				  of every application.
For affiliates seeking to be licensed under a single
					 license, each affiliate must file a Form MU1 and comply with all licensing
					 requirements except for the application fee, which is a single $350 fee for the
					 Form MU1 filings. The Department of Financial Protection and Innovation will
					 issue a single license listing the names of all the affiliates.
An affiliate may be licensed under only one debt collector
					 license. An applicant shall provide the following information, exhibits, and
					 documentation in the manner provided.
(1) OTHER TRADE NAMES: An applicant shall
				  provide all fictitious business names on Form MU1.
(A) For each fictitious business name, an
				  applicant shall file with NMLS a copy of the Fictitious Business Name Statement
				  with the "filed" stamp from the county clerk's office.
(B) An applicant shall not engage in debt
				  collection using a fictitious business name until the Commissioner approves the
				  use of the name.
(C) Every
				  applicant and licensee shall comply with the laws governing the filing of a
				  fictitious business name set forth in Business and Professions Code sections
				  17900
				  through
				  17930.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.3 - Debt Collection Licensing Act › Article 2 - Application for Licensure and Related Forms › Section 1850.9 - Fingerprints and Background Checks

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The
				  individuals for whom a Form MU2 has been filed must submit fingerprints through
				  the California Department of Justice's electronic fingerprint submission Live
				  Scan Service ("Live Scan"). The California Attorney General's website at
				  https://oag.ca.gov/fingerprints provides information on the procedures for
				  fingerprinting in California through Live Scan and fingerprinting outside of
				  California, the locations in California for fingerprinting, and the fingerprint
				  processing fees.
(b) Individuals
				  who cannot be fingerprinted electronically in California must follow the
				  California Department of Justice's procedures for fingerprinting outside of
				  California.
(c) No license will be
				  issued until the Department of Financial Protection and Innovation receives a
				  response from the California Department of Justice for all individuals required
				  to submit fingerprints under the Debt Collection Licensing Act.
Note: Authority cited: Section 100003, Financial Code.
						Reference: Sections 100008 and 100009, Financial Code; and Section
						11077.1, Penal
						Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.3 - Debt Collection Licensing Act › Article 2 - Application for Licensure and Related Forms › Section 1850.10 - Information Regarding Individuals Who Are Not Residents of the United States

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) In
				  addition to other background information required in the application,
				  applicants must engage a search firm to perform an investigative background
				  report of each individual required to be fingerprinted under the Debt
				  Collection Licensing Act and Sections 1850.7 and 1850.9 of these rules who does
				  not currently reside in the United States or has not resided in the United
				  States for at least ten (10) years. This investigative background report shall
				  be required in addition to fingerprinting.
(1) A copy of the investigative background
				  report shall be filed with NMLS for transmission to the Commissioner.
(2) The search firm must be able to
				  demonstrate that it has sufficient resources and is properly licensed to
				  conduct the background search.
(3)
				  The search firm shall not be affiliated with or related to the applicant or the
				  individual who is the subject of the search.
(4) The report must be in English or if the
				  report is in another language, the report must be translated to English and
				  include a translator's certificate as provided in Section 1850.6.1 of these
				  rules.
(5) The cost of the report
				  shall be paid by the applicant or individual.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.3 - Debt Collection Licensing Act › Article 2 - Application for Licensure and Related Forms › Section 1850.12 - Challenge Process for Information Entered Into NMLS

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) If
				  an applicant or licensee disputes the accuracy or completeness of any material
				  information entered into and maintained by NMLS, the applicant or licensee may
				  submit a written request to the Commissioner to the attention of the Special
				  Administrator, Debt Collection Licensing Program at
				  DebtCollectionLicensing@dfpi.ca.gov.
(b) The request shall include the applicant
				  or licensee's name, unique identifier, a statement of the alleged inaccuracy or
				  incompleteness of the information entered into NMLS, and its materiality, and
				  provide any proof or corroboration available, including copies of official
				  documents or court orders that support the changes requested by the licensee or
				  applicant.
(c) Upon receipt of the
				  request, the Commissioner shall investigate the request, along with any
				  information provided, and determine whether the information entered into NMLS
				  is correctly reflected.
(d) If the
				  Commissioner determines that the information is materially incorrect, the
				  Commissioner shall request the NMLS record to be corrected.
(e) If the Commissioner denies the
				  allegations of material inaccuracy or incompleteness in the NMLS record, the
				  Commissioner shall notify the licensee or applicant in writing.
(f) Within thirty (30) calendar days from the
				  mailing or service of the Commissioner's decision to the licensee or applicant
				  that the information is not inaccurate or incomplete, the licensee or applicant
				  may request a hearing under the Administrative Procedure Act (Government Code
				  section
				  11500 et
				  seq.) for a determination of whether material inaccuracy or incompleteness
				  exists in the record.
(g) Upon a
				  hearing, if a material inaccuracy or incompleteness is found in any record, the
				  Commissioner shall, within thirty (30) calendar days of notice of the finding,
				  request NMLS to correct the information.
(h) After a hearing is held pursuant to a
				  request described in subsection (f), judicial review of the decision shall be
				  governed by Section
				  11523 of
				  the Government Code.
Note: Authority cited: Section 100003, Financial Code.
						Reference: Section 100015, Financial Code; and Section
						11523,
						Government Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.3 - Debt Collection Licensing Act › Article 2 - Application for Licensure and Related Forms › Section 1850.13 - Share Arrangements with Other Government Agencies

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The Commissioner is authorized to share any information or
					 material that has been filed with NMLS with any government agency, including,
					 but not limited to, the California Attorney General, the California Department
					 of Justice, the U.S. Department of Justice, the Consumer Financial Protection
					 Bureau, the Federal Bureau of Investigation, state, local, or federal
					 regulatory agencies, state attorneys general, and county district attorney's
					 offices. The information or material that is shared with a governmental agency
					 shall be accomplished without the loss of privilege or the loss of
					 confidentiality protections provided by law.
Note: Authority cited: Section 100003, Financial Code.
						Reference: Sections 100015 and 100016, Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.3 - Debt Collection Licensing Act › Article 2 - Application for Licensure and Related Forms › Section 1850.14 - Commissioner's Finding for Licensure

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The Commissioner's finding required by Section 100012,
					 subdivision (b)(7), of the Financial Code relates to any matter, personal or
					 professional, that may impact a finding regarding the propensity of the
					 applicant, or applicant(s) in the case of affiliates seeking to be licensed
					 under the same license, and their general partners, managing members, principal
					 officers, directors, trustees, and individuals owning or controlling ten
					 percent (10%) of the applicant, to operate honestly, fairly, and efficiently
					 when engaging in the business of a debt collector.
Note: Authority cited: Section 100003, Financial Code.
						Reference: Section 100012, Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.3 - Debt Collection Licensing Act › Article 2 - Application for Licensure and Related Forms › Section 1850.15 - Denial of License Application

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The
				  Commissioner may deny an application for a license for any of the reasons in
				  Section 100012, subdivision (b)(1) through (b)(7), of the Financial
				  Code.
(b) The Commissioner will
				  consider the following factors in deciding whether to deny a license to an
				  applicant, or applicants in the case of affiliates seeking to be licensed under
				  the same license:
(1) The nature and
				  seriousness of the applicant's prior violations involving dishonesty, fraud, or
				  deceit that are substantially related to the qualifications, functions, or
				  duties of a person engaged in the business of debt collection.
(2) The harm to consumers from the
				  applicant's prior violations involving dishonesty, fraud, or deceit that are
				  substantially related to the qualifications, functions, or duties of a person
				  engaged in the business of debt collection.
(3) The number and frequency of the
				  applicant's prior violations involving dishonesty, fraud, or deceit that are
				  substantially related to the qualifications, functions, or duties of a person
				  engaged in the business of debt collection.
(4) The number of prior disciplinary actions
				  taken against the applicant by regulatory agencies in California or other
				  states.
(5) Whether permitting an
				  affiliate or affiliates to be licensed under the same license would violate or
				  facilitate the violation of other laws.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.3 - Debt Collection Licensing Act › Article 2 - Application for Licensure and Related Forms › Section 1850.16 - Designated Email Address

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Upon receiving a license, an applicant shall establish a
					 designated email address by registering for a Department of Financial
					 Protection and Innovation Self-Service Portal Account through the Department of
					 Financial Protection and Innovation's website at www.dfpi.ca.gov. The email
					 account shall be established and monitored in accordance with the requirements
					 in Section
					 331.5 of
					 the Financial Code. By registering the designated email address, the applicant
					 consents to receive information from the Commissioner at that email address,
					 including, but not limited to, assessment notices.
Note: Authority cited: Section 100003, Financial Code.
						Reference: Section
						331.5,
						Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.3 - Debt Collection Licensing Act › Article 3 - Requirement to Maintain Current Information › Section 1850.30 - Notice of Changes

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A
				  licensee shall, upon any change in the information contained in its application
				  for a license, file the changed information with the Commissioner through
				  NMLS.
(b) A licensee shall file the
				  changed information on Forms MU1, MU2, and MU3 as applicable, and any exhibits
				  and supporting documents thereto, and pay the fees, if any, to file the changed
				  information through NMLS in accordance with the procedures for transmission to
				  the Commissioner. Any change that cannot be filed with NMLS or fee that cannot
				  be paid through NMLS shall be filed with or paid directly to the Commissioner.
				  The NMLS fees for obtaining credit reports and any other NMLS fees shall be
				  paid by the licensee to NMLS through NMLS.
(c) Except as provided in subsection (d) of
				  this section, all changes to the information in the license application shall
				  be filed within thirty (30) calendar days of the date of the occurrence of the
				  event that results in the information becoming inaccurate or
				  incomplete.
(d) A change in the
				  principal place of business identified in a license application to a different
				  street address must be filed at least ten (10) calendar days before the date of
				  the change. The notice to the Commissioner of the change in the principal place
				  of business must be filed with the Commissioner through NMLS and include the
				  licensee's name, street address of the new location and date of change, and
				  describe any other existing business being conducted at the new
				  location.
Note: Authority cited: Section 100003, Financial Code.
						Reference: Sections 100001, 100006.3 and 100018, Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.3 - Debt Collection Licensing Act › Article 3 - Requirement to Maintain Current Information › Section 1850.31 - Officers, Directors, Partners, and Other Persons: Maintenance of Current List with Commissioner: Information Required

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A
				  licensee must at all times maintain on file with NMLS, in accordance with the
				  procedures for transmission to the Commissioner, a current list of principal
				  officers, directors, partners in the case of a partnership, and other persons
				  named on Forms MU1, MU2, and MU3, as applicable.
(b) In the event of any change in the
				  principal officers, directors, partners, or other persons named in the
				  application, a licensee shall, within thirty (30) calendar days of the date of
				  the change, file an amendment to the application containing the same
				  information in relation to the new person(s) as is required on Forms MU1, MU2,
				  and MU3 and pay the fees, if any, to file the changed information through NMLS.
Fingerprinting fees specified in Sections 1850.7 and 1850.9
					 of these rules shall be paid by the licensee, and any other fees payable
					 through NMLS, including fees, if any, to file the new or changed information,
					 shall be paid by the licensee to NMLS for transmission to the Commissioner. Any
					 fees that cannot be paid through NMLS shall be paid directly to the
					 Commissioner. The NMLS fees for obtaining credit reports and any other NMLS
					 fees shall be paid by the licensee to NMLS through NMLS. Fees are not
					 refundable.
Note: Authority cited: Section 100003, Financial Code.
						Reference: Sections 100006.3 and 100018, Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.3 - Debt Collection Licensing Act › Article 4 - Surety Bond › Section 1850.50 - Surety Bond

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) All
				  surety bonds, amendments, cancellations, notices of claims, and information
				  related to surety bonds such as riders and endorsements shall be filed with
				  NMLS for transmission to the Commissioner.
(b) The surety bond shall be in the form of
				  the "electronic surety bond form," titled "SURETY BOND, DEBT COLLECTION
				  LICENSING ACT LICENSEE BOND," ESB Form Version 1 Effective 07/01/2021, NMLS
				  Version: CA-DFPI - 07/01/2021, incorporated herein by reference in its
				  entirety.
(c) For purposes of
				  obtaining a license, an applicant shall initially file a surety bond of at
				  least $25,000.
(d) The surety bond
				  shall not be cancelled, in whole or in part, without at least sixty (60)
				  calendar days' notice to the Commissioner by the surety, bonding, or insurance
				  company.
(e) The surety bond shall
				  provide that the surety, bonding, or insurance company issuing the bond provide
				  notice to the Commissioner within ten (10) calendar days of service of any
				  action.
Note: Authority cited: Section 100003, Financial Code.
						Reference: Section
						995.320,
						Code of Civil Procedure; and Sections 100006.3 and 100019, Financial
						Code.