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Financial Code - FIN - FIN § 22804
Financial Code - FIN - FIN § 22804
(a) The commissioner shall adopt regulations governing the disclosures described in paragraphs (1) to (5), inclusive, of subdivision (b) of Section 22802 and subdivisions (a) to (e), inclusive, of Section 22803. Those regulations shall include all of the following: (1) Definition
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Financial Code - FIN - FIN § 22805
Financial Code - FIN - FIN § 22805
No provision of this division imposes any liability on a provider as a result of the actual Annual Percentage Rate (APR) charged by a provider differing from the Estimated APR disclosed in conformity with any regulation, order, or written interpretive opinion of the commissioner
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Financial Code - FIN - FIN § 22806
Financial Code - FIN - FIN § 22806
(a) A provider shall not use the term “interest” or “rate” in a deceptive way that could reasonably result in the recipient being misled. (b) After extending a specific offer to a potential recipient, whenever a provider states a charge, pricing metric, or financing amount to the
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Financial Code - FIN - FIN § 22807
Financial Code - FIN - FIN § 22807
(a) A violation of this division by a person licensed under the California Financing Law (Division 9 (commencing with Section 22000)) shall be deemed a violation of the California Financing Law if the violation relates to a commercial financing transaction that is subject to the
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Financial Code - FIN - FIN § 23000
Financial Code - FIN - FIN § 23000
This division shall be known and may be cited as the “California Deferred Deposit Transaction Law.”
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Financial Code - FIN - FIN § 23001
Financial Code - FIN - FIN § 23001
As used in this division, the following terms have the following meanings: (a) “Deferred deposit transaction” means a transaction whereby a person defers depositing a customer’s personal check until a specific date, pursuant to a written agreement for a fee or other charge, as pr
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Financial Code - FIN - FIN § 23005
Financial Code - FIN - FIN § 23005
(a) A person shall not offer, originate, or make a deferred deposit transaction, arrange a deferred deposit transaction for a deferred deposit originator, act as an agent for a deferred deposit originator, or assist a deferred deposit originator in the origination of a deferred d
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Financial Code - FIN - FIN § 23006
Financial Code - FIN - FIN § 23006
At the time of filing the application, the applicant shall pay to the commissioner the sum of one hundred dollars ($100) as a fee for investigating the application, the sum of two hundred dollars ($200) as an application fee, and the cost of fingerprint processing. The investigat
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Financial Code - FIN - FIN § 23007
Financial Code - FIN - FIN § 23007
The applicant shall file with the application financial statements prepared in accordance with generally accepted accounting principles and acceptable to the commissioner that indicate a net worth of at least twenty-five thousand dollars ($25,000). A licensee, regardless of the n
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Financial Code - FIN - FIN § 23008
Financial Code - FIN - FIN § 23008
Upon the filing of an application pursuant to Section 23005 and the payment of fees pursuant to Section 23006, the commissioner shall investigate the applicant, and its general partners and persons owning or controlling, directly or indirectly, 10 percent or more of the outstandi
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Financial Code - FIN - FIN § 23009
Financial Code - FIN - FIN § 23009
The license shall state the name of the licensee, and if the licensee is a partnership, the names of its general partners, and if a corporation or an association, the date and place of its incorporation or organization, and the address of the licensee’s principal business locatio
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Financial Code - FIN - FIN § 23010
Financial Code - FIN - FIN § 23010
The commissioner may by regulation require licensees to file, at the times that the commissioner may specify, the information that the commissioner may reasonably require regarding any changes in the information provided in any application filed pursuant to this division.
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Financial Code - FIN - FIN § 23011
Financial Code - FIN - FIN § 23011
(a) Upon reasonable notice and the opportunity to be heard, the commissioner may deny the application for any of the following reasons: (1) Any false statement of material fact has been made in the application. (2) Any officer, director, general partner, or person owning or contr
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Financial Code - FIN - FIN § 23011.5
Financial Code - FIN - FIN § 23011.5
(a) The commissioner may, after appropriate notice and opportunity for hearing, by order, censure or suspend for a period not exceeding 12 months, or bar from any position of employment, management, or control any deferred deposit originator, or any other person, if the commissio
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Financial Code - FIN - FIN § 23012
Financial Code - FIN - FIN § 23012
The proceedings for denial of a license shall be conducted in accordance with Chapter 5 (commencing with Section 11500) of Part 1 of Division 3 of Title 2 of the Government Code, and the commissioner has all the powers granted therein.
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Financial Code - FIN - FIN § 23013
Financial Code - FIN - FIN § 23013
(a) A licensee shall maintain a surety bond in accordance with this subdivision in the amount of twenty-five thousand dollars ($25,000). The bond shall be payable to the commissioner and issued by an insurer authorized to do business in this state. A copy of the bond, including a
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Financial Code - FIN - FIN § 23014
Financial Code - FIN - FIN § 23014
In any proceeding under this division, the burden of proving an exemption or exception is upon the person claiming it.
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Financial Code - FIN - FIN § 23015
Financial Code - FIN - FIN § 23015
The commissioner may make general rules and regulations and specific rulings, demands, and findings for the enforcement of this division, in addition to, and within the general purposes of, this division.
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Financial Code - FIN - FIN § 23015.5
Financial Code - FIN - FIN § 23015.5
(a) It is unlawful for any person to knowingly alter, destroy, mutilate, conceal, cover up, falsify, or make a false entry in any record, document, or tangible object with the intent to impede, obstruct, or influence the administration or enforcement of any provision of this divi
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Financial Code - FIN - FIN § 23016
Financial Code - FIN - FIN § 23016
(a) (1) Each licensee shall pay to the commissioner its pro rata share of all costs and expenses reasonably incurred in the administration of this division, as estimated by the commissioner, for the ensuing year and any deficit actually incurred or anticipated in the administrati
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Financial Code - FIN - FIN § 23017
Financial Code - FIN - FIN § 23017
All money paid or collected under this division shall be deposited in the State Treasury to the credit of the State Corporations Fund. The administration of this division shall be supported out of the State Corporations Fund upon appropriation by the Legislature.
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Financial Code - FIN - FIN § 23018
Financial Code - FIN - FIN § 23018
(a) A license, along with any currently effective order of the commissioner approving a different name pursuant to Section 23023, shall be conspicuously posted in the place of business authorized by the licensee. (b) A license is not transferable or assignable. A license issued t
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Financial Code - FIN - FIN § 23019
Financial Code - FIN - FIN § 23019
Every licensee shall post a complete, detailed, and unambiguous schedule of fees. The information required by this section shall be clear, legible, and in letters not less than one-half inch in height. The information shall be posted in a conspicuous location in the unobstructed
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Financial Code - FIN - FIN § 23020
Financial Code - FIN - FIN § 23020
A licensee shall maintain only one place of business under an original or amended license issued pursuant to Section 23008. The commissioner may issue more than one license to the same licensee upon compliance with all the provisions of this division governing an original issuanc
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Financial Code - FIN - FIN § 23021
Financial Code - FIN - FIN § 23021
(a) If a licensee desires to change its place of business to a street address other than that designated in its license, the licensee shall give written notice to the commissioner at least 10 days prior to the change. The commissioner shall then provide written approval of the ch