SB 904 Summary

• Extends authorization for the Bureau of Security and Investigative Services to issue alarm company operator licenses to limited liability companies (LLCs) from January 1, 2019 to January 1, 2024, after which LLCs cannot conduct business as alarm company operators.

• Requires LLCs licensed as alarm company operators to maintain general liability insurance with minimum aggregate limits of $1,000,000 (or up to $5,000,000 for larger LLCs) and report annually to the bureau on claims paid from these policies starting January 1, 2019.

• Adds definitions within the Alarm Company Act for LLC members and managers based on California's Revised Uniform Limited Liability Company Act provisions.

• Requires the Bureau of Security and Investigative Services to share with Legislature policy committees by January 1, 2023 information about LLC license renewals and insurance claims paid before the LLC authorization expires.

• Makes conforming changes to existing definitions and repeals duplicate provisions in the Alarm Company Act related to LLC requirements and officer/member identification procedures.