CA AB1608

Authorizes the Bureau of Security and Investigative Services to issue private investigator licenses to limited liability companies until January 1, 2018, requiring disclosure of managing members, officers, and members active in the business.

Requires limited liability company licensees to maintain liability insurance with minimum aggregate limits of $1,000,000 for five or fewer managing members, plus $100,000 for each additional member (capped at $5,000,000 maximum).

Automatically suspends the license of any limited liability company that fails to maintain required insurance or provide proof of coverage within 30 days of notice, with each member personally liable up to $1,000,000 for damages to third parties during suspension.

Permits licensees to assign their license to another business entity with approval from the Chief of the Bureau and payment of a processing fee not to exceed $125, provided the assignee is wholly owned by the assignor's direct and indirect owners.

Establishes that all provisions authorizing limited liability company licensure sunset on January 1, 2018, unless extended by later legislation enacted before that date.