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CA SB777

Bill

Official Source

Status

Passed

9/22/2016

Primary Sponsor

Ricardo Lara

Click for details

Origin

Senate

2015-2016 Session

AI Summary

  • Exempts persons making one commercial loan in a 12-month period from regulation under the California Finance Lenders Law
  • Exemption applies only to commercial loans as defined in Section 22502
  • Exemption is temporary and expires on January 1, 2022, at which time the section is repealed
  • Adds Section 22050.5 to the Financial Code
  • Complements existing exemptions for persons making 5 or fewer commercial loans incidental to their business

Legislative Description

The California Finance Lenders Law: application.

Last Action

Chaptered by Secretary of State. Chapter 478, Statutes of 2016.

9/22/2016

Committee Referrals

Banking and Financial Institutions8/25/2016
Appropriations8/10/2016
Banking and Finance8/4/2016
Governmental Organization6/4/2015
Governmental Organization4/16/2015
Rules2/27/2015

Full Bill Text

No bill text available