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Financial Code - FIN - FIN § 22685
Financial Code - FIN - FIN § 22685
(a) A program administrator shall derive market value using one of the following: (1) Automated valuation models, using the following criteria: (A) Each automated valuation model must be provided by a third-party vendor. (B) Each automated valuation model must have estimation mod
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Financial Code - FIN - FIN § 22686
Financial Code - FIN - FIN § 22686
A program administrator shall not execute an assessment contract, and no work shall commence under a home improvement contract that is financed by that assessment contract nor shall that home improvement contract be executed unless the program administrator makes a reasonable goo
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Financial Code - FIN - FIN § 22687
Financial Code - FIN - FIN § 22687
(a) A program administrator shall determine before executing an assessment contract, and no work shall commence under a home improvement contract that is financed by that assessment contract nor shall that home improvement contract be executed until this determination is made, th
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Financial Code - FIN - FIN § 22688
Financial Code - FIN - FIN § 22688
A program administrator shall be subject to all provisions of the California Financial Information Privacy Act (Division 1.4 (commencing with Section 4050)) that are applicable to financial institutions.
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Financial Code - FIN - FIN § 22689
Financial Code - FIN - FIN § 22689
(a) A program administrator shall not permit a PACE solicitor to do any of the following: (1) Solicit a property owner to enter into an assessment contract with a program administrator, unless the PACE solicitor and the program administrator comply with the requirements of this c
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Financial Code - FIN - FIN § 22690
Financial Code - FIN - FIN § 22690
(a) A program administrator is subject to an inspection, examination, or investigation in accordance with Section 22701. (b) If, in the course of an inspection, examination, or investigation of a program administrator, the commissioner has cause to believe that the program admini
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Financial Code - FIN - FIN § 22690.5
Financial Code - FIN - FIN § 22690.5
(a) The department shall maintain, on its Internet Web site, the identities of enrolled PACE solicitors and PACE solicitor agents. The Internet Web site shall identify the date of the most recent update, and the frequency with which the list is updated. This subdivision shall bec
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Financial Code - FIN - FIN § 22691
Financial Code - FIN - FIN § 22691
The commissioner may by any rules he or she deems necessary or appropriate in the public interest or for the protection of property owners, either unconditionally or upon specified terms and conditions or for specified periods, exempt any class of persons specified in those rules
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Financial Code - FIN - FIN § 22692
Financial Code - FIN - FIN § 22692
(a) The commissioner shall require a program administrator to submit the following information in the annual report filed under Section 22159: (1) Information beneficial to an evaluation of the overall impact on property owners caused by the 97 percent cap on total PACE and mortg
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Financial Code - FIN - FIN § 22693
Financial Code - FIN - FIN § 22693
(a) The commissioner may, by rule, require a program administrator to use a real-time registry or database system for tracking PACE assessments in order to carry out his or her regulatory duties and to support enforcement. That registry or database system shall enable the program
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Financial Code - FIN - FIN § 22694
Financial Code - FIN - FIN § 22694
This chapter does not apply to a finance lender, mortgage loan originator, or broker licensee, unless they engage in the business of a program administrator, PACE solicitor, or PACE solicitor agent.
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Financial Code - FIN - FIN § 22695
Financial Code - FIN - FIN § 22695
(a) A violation of this chapter by any person is not subject to the criminal penalties established pursuant to Sections 22753 and 22780. (b) Notwithstanding Section 22696, this section shall become operative on the effective date of this act.
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Financial Code - FIN - FIN § 22696
Financial Code - FIN - FIN § 22696
Except as provided in Sections 22684, 22685, 22686, 22687, 22688, and 22695, this chapter shall become operative on January 1, 2019.
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Financial Code - FIN - FIN § 22697
Financial Code - FIN - FIN § 22697
This chapter does not preclude or reduce any rights and remedies established under any other laws.
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Financial Code - FIN - FIN § 22700
Financial Code - FIN - FIN § 22700
(a) Finance lender, broker, and program administrator licenses issued under this division shall remain in effect until they are surrendered, revoked, or suspended. (b) Mortgage loan originator licenses issued under this division shall be renewed annually upon the payment of an an
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Financial Code - FIN - FIN § 22701
Financial Code - FIN - FIN § 22701
(a) For the purpose of discovering violations of this division or securing information required by him or her in the administration and enforcement of this division, the commissioner may at any time investigate the loans, assessment contracts, and business, and examine the books,
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Financial Code - FIN - FIN § 22702
Financial Code - FIN - FIN § 22702
In making any examination or investigation, the commissioner may, for a reasonable time not to exceed 30 days, take possession of the books, records, accounts, and other papers pertaining to the business. The commissioner may place a keeper in exclusive charge and custody of the
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Financial Code - FIN - FIN § 22703
Financial Code - FIN - FIN § 22703
The officers, employees, partners, directors, and stockholders may inspect and examine the books, accounts, papers, records, files, safes, and vaults while they are in the custody of the commissioner. Employees may make entries in these documents reflecting current operations or
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Financial Code - FIN - FIN § 22704
Financial Code - FIN - FIN § 22704
The power of investigation and examination by the commissioner is not terminated by the surrender, suspension, or revocation of any license issued by him or her.
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Financial Code - FIN - FIN § 22705
Financial Code - FIN - FIN § 22705
Whenever the commissioner deems it necessary for the general welfare of the public, he or she has continuous authority to exercise the powers set forth in this division whether or not an application for a license has been filed with the commissioner, any license has been issued,
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Financial Code - FIN - FIN § 22705.1
Financial Code - FIN - FIN § 22705.1
(a) For any licensee, a disciplinary action taken by the State of California, another state, an agency of the federal government, or another country for an action substantially related to the activity regulated under this division may be grounds for disciplinary action by the com
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Financial Code - FIN - FIN § 22706
Financial Code - FIN - FIN § 22706
The commissioner may require the attendance of witnesses and examine under oath all persons whose testimony relates to activities and businesses regulated by this division or to the subject matter of any examination, investigation, or hearing.
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Financial Code - FIN - FIN § 22707
Financial Code - FIN - FIN § 22707
(a) The cost of each examination of a licensee or a person subject to this division shall be paid to the commissioner by the licensee or person examined, and the commissioner may maintain an action for the recovery of the cost in any court of competent jurisdiction. In determinin
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Financial Code - FIN - FIN § 22707.5
Financial Code - FIN - FIN § 22707.5
(a) If, upon inspection, examination, or investigation, the commissioner has cause to believe that a licensee or other person is violating or has violated any provision of this division or any rule or order thereunder, the commissioner or their designee, may issue a citation to t
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Financial Code - FIN - FIN § 22708
Financial Code - FIN - FIN § 22708
After an examination, investigation, or hearing under this division, if the commissioner deems it of public interest or advantage, he or she may certify a record to the proper prosecuting official of the city, county, or city and county in which the act complained of, examined, o