California 2019-2020 Regular Session

California Assembly Bill AB2524 Compare Versions

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Version 2 (New)

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1		-	Assembly Bill No. ~~2524 CHAPTER 159~~ An act to repeal Sections 12200.1 and 12200.3 of the Financial Code, relating to financial institutions. ~~[ Approved by Governor September 25, 2020. Filed with Secretary of State September 25, 2020. ]~~ 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 Section 12200.1 of the Financial Code is repealed.SEC. 2. Section 12200.3 of the Financial Code is repealed.
	1	+	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.
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3		-	Assembly Bill No. ~~2524 CHAPTER 159~~ An act to repeal Sections 12200.1 and 12200.3 of the Financial Code, relating to financial institutions. ~~[ Approved by Governor September 25, 2020. Filed with Secretary of State September 25, 2020. ]~~ 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
	3	+	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
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5		-	Assembly ~~Bill No.~~ ~~2524 CHAPTER 159~~
	5	+	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
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7		-	Assembly Bill No. 2524
	7	+	Enrolled September 01, 2020
	8	+	Passed IN Senate August 28, 2020
	9	+	Passed IN Assembly August 30, 2020
	10	+	Amended IN Senate July 15, 2020
	11	+	Amended IN Senate July 02, 2020
	12	+	Amended IN Assembly June 04, 2020
	13	+	Amended IN Assembly May 12, 2020
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9		-	CHAPTER 159
	15	+	CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION
	16	+
	17	+	Assembly Bill
	18	+
	19	+	No. 2524
	20	+
	21	+	Introduced by Assembly Member WicksFebruary 19, 2020
	22	+
	23	+	Introduced by Assembly Member Wicks
	24	+	February 19, 2020
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11	26		An act to repeal Sections 12200.1 and 12200.3 of the Financial Code, relating to financial institutions.
12		-
13		-	[ Approved by Governor September 25, 2020. Filed with Secretary of State September 25, 2020. ]
14	27
15	28		LEGISLATIVE COUNSEL'S DIGEST
16	29
17	30		## LEGISLATIVE COUNSEL'S DIGEST
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19	32		AB 2524, Wicks. Check Sellers, Bill Payers and Proraters Law: out-of-state activities.
20	33
21	34		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.
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23	36		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.
24	37
25	38		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.
26	39
27	40		This bill would repeal those prohibitions.
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29	42		## Digest Key
30	43
31	44		## Bill Text
32	45
33	46		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.
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35	48		The people of the State of California do enact as follows:
36	49
37	50		## The people of the State of California do enact as follows:
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39	52		SECTION 1. Section 12200.1 of the Financial Code is repealed.
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41	54		SECTION 1. Section 12200.1 of the Financial Code is repealed.
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43	56		### SECTION 1.
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45	58
46	59
47	60		SEC. 2. Section 12200.3 of the Financial Code is repealed.
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49	62		SEC. 2. Section 12200.3 of the Financial Code is repealed.
50	63
51	64		### SEC. 2.