California Senate Bill SB875 Introduced / Bill

 BILL NUMBER: SB 875INTRODUCED BILL TEXT INTRODUCED BY Senator Gaines JANUARY 14, 2016 An act to amend Section 21000 of the Financial Code, relating to pawnbrokers. LEGISLATIVE COUNSEL'S DIGEST SB 875, as introduced, Gaines. Pawnbrokers: definition. Existing law regulates pawnbrokers by, among other things, limiting the maximum monthly rates a pawnbroker may charge and requiring specific posted disclosures of those rates. A knowing violation of the laws regulating pawnbrokers is a crime. This bill would make nonsubstantive changes to the definition of a pawnbroker. Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 21000 of the Financial Code is amended to read: 21000.  Every   A  person engaged in the business of receiving goods,  including  including, but not limited to,  motor vehicles, in pledge as security for a loan is a pawnbroker within the meaning of this division.