Enrolled September 01, 2020 Passed IN Senate August 28, 2020 Passed IN Assembly August 30, 2020 Amended IN Senate July 15, 2020 Amended IN Senate July 02, 2020 Amended IN Assembly June 04, 2020 Amended IN Assembly May 12, 2020 CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Assembly Bill No. 2524Introduced by Assembly Member WicksFebruary 19, 2020 An act to repeal Sections 12200.1 and 12200.3 of the Financial Code, relating to financial institutions. LEGISLATIVE COUNSEL'S DIGESTAB 2524, Wicks. Check Sellers, Bill Payers and Proraters Law: out-of-state activities.Existing law, the Check Sellers, Bill Payers and Proraters Law, prohibits a person from engaging in the business of receiving money or evidences thereof for the purpose of distributing the money or evidences thereof among creditors in payment or partial payment of the obligations of the debtor without first obtaining a license from the Commissioner of Business Oversight.Existing law prohibits the commissioner from issuing a license to a corporation that is not organized under the laws of this state for the purpose of engaging in the business of selling checks, drafts, or money orders, or of receiving money as an agent of an obligor for the purpose of paying bills, invoices, or accounts of the obligor, or accepting, without direct compensation, money for the purpose of forwarding it to others in payment of utility bills, except in certain circumstances. The law also prohibits a licensee from conducting those activities outside of the state.This bill would repeal those prohibitions.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. Section 12200.1 of the Financial Code is repealed.SEC. 2. Section 12200.3 of the Financial Code is repealed.
Enrolled September 01, 2020 Passed IN Senate August 28, 2020 Passed IN Assembly August 30, 2020 Amended IN Senate July 15, 2020 Amended IN Senate July 02, 2020 Amended IN Assembly June 04, 2020 Amended IN Assembly May 12, 2020 CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Assembly Bill No. 2524Introduced by Assembly Member WicksFebruary 19, 2020 An act to repeal Sections 12200.1 and 12200.3 of the Financial Code, relating to financial institutions. LEGISLATIVE COUNSEL'S DIGESTAB 2524, Wicks. Check Sellers, Bill Payers and Proraters Law: out-of-state activities.Existing law, the Check Sellers, Bill Payers and Proraters Law, prohibits a person from engaging in the business of receiving money or evidences thereof for the purpose of distributing the money or evidences thereof among creditors in payment or partial payment of the obligations of the debtor without first obtaining a license from the Commissioner of Business Oversight.Existing law prohibits the commissioner from issuing a license to a corporation that is not organized under the laws of this state for the purpose of engaging in the business of selling checks, drafts, or money orders, or of receiving money as an agent of an obligor for the purpose of paying bills, invoices, or accounts of the obligor, or accepting, without direct compensation, money for the purpose of forwarding it to others in payment of utility bills, except in certain circumstances. The law also prohibits a licensee from conducting those activities outside of the state.This bill would repeal those prohibitions.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO
Enrolled September 01, 2020 Passed IN Senate August 28, 2020 Passed IN Assembly August 30, 2020 Amended IN Senate July 15, 2020 Amended IN Senate July 02, 2020 Amended IN Assembly June 04, 2020 Amended IN Assembly May 12, 2020
Enrolled September 01, 2020
Passed IN Senate August 28, 2020
Passed IN Assembly August 30, 2020
Amended IN Senate July 15, 2020
Amended IN Senate July 02, 2020
Amended IN Assembly June 04, 2020
Amended IN Assembly May 12, 2020
CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION
Assembly Bill
No. 2524
Introduced by Assembly Member WicksFebruary 19, 2020
Introduced by Assembly Member Wicks
February 19, 2020
An act to repeal Sections 12200.1 and 12200.3 of the Financial Code, relating to financial institutions.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
AB 2524, Wicks. Check Sellers, Bill Payers and Proraters Law: out-of-state activities.
Existing law, the Check Sellers, Bill Payers and Proraters Law, prohibits a person from engaging in the business of receiving money or evidences thereof for the purpose of distributing the money or evidences thereof among creditors in payment or partial payment of the obligations of the debtor without first obtaining a license from the Commissioner of Business Oversight.Existing law prohibits the commissioner from issuing a license to a corporation that is not organized under the laws of this state for the purpose of engaging in the business of selling checks, drafts, or money orders, or of receiving money as an agent of an obligor for the purpose of paying bills, invoices, or accounts of the obligor, or accepting, without direct compensation, money for the purpose of forwarding it to others in payment of utility bills, except in certain circumstances. The law also prohibits a licensee from conducting those activities outside of the state.This bill would repeal those prohibitions.
Existing law, the Check Sellers, Bill Payers and Proraters Law, prohibits a person from engaging in the business of receiving money or evidences thereof for the purpose of distributing the money or evidences thereof among creditors in payment or partial payment of the obligations of the debtor without first obtaining a license from the Commissioner of Business Oversight.
Existing law prohibits the commissioner from issuing a license to a corporation that is not organized under the laws of this state for the purpose of engaging in the business of selling checks, drafts, or money orders, or of receiving money as an agent of an obligor for the purpose of paying bills, invoices, or accounts of the obligor, or accepting, without direct compensation, money for the purpose of forwarding it to others in payment of utility bills, except in certain circumstances. The law also prohibits a licensee from conducting those activities outside of the state.
This bill would repeal those prohibitions.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. Section 12200.1 of the Financial Code is repealed.SEC. 2. Section 12200.3 of the Financial Code is repealed.
The people of the State of California do enact as follows:
## The people of the State of California do enact as follows:
SECTION 1. Section 12200.1 of the Financial Code is repealed.
SECTION 1. Section 12200.1 of the Financial Code is repealed.
### SECTION 1.
SEC. 2. Section 12200.3 of the Financial Code is repealed.
SEC. 2. Section 12200.3 of the Financial Code is repealed.
### SEC. 2.