BlackletterCalifornia law

DIVISION 10. CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW [23000. - 23106.]

Division 10 added by Stats. 2002, Ch. 777, Sec. 10.

§§ 23000–23106 · 62 sections

  1. CHAPTER 1. General Provisions §§ 23000–23027 · 26 sections
    1. ARTICLE 1. Construction and Definitions §§ 23000–23001 · 2 sections
      • § 23000 This division shall be known and may be cited as the “California Deferred Deposit Transaction Law.”
      • § 23001 As used in this division, the following terms have the following meanings: (a) “Deferred deposit transaction” means a transaction whereby a person defers…
    2. ARTICLE 2. Licensing and Exemptions §§ 23005–23014 · 11 sections
      • § 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…
      • § 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…
      • § 23007 The applicant shall file with the application financial statements prepared in accordance with generally accepted accounting principles and acceptable to the…
      • § 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…
      • § 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…
      • § 23010 The commissioner may by regulation require licensees to file, at the times that the commissioner may specify, the information that the commissioner may…
      • § 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…
      • § 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…
      • § 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…
      • § 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…
      • § 23014 In any proceeding under this division, the burden of proving an exemption or exception is upon the person claiming it.
    3. ARTICLE 3. Administration and Operations §§ 23015–23027 · 13 sections
      • § 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…
      • § 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…
      • § 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…
      • § 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…
      • § 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…
      • § 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…
      • § 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…
      • § 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…
      • § 23023 No licensee shall transact the business licensed or make any transaction provided for by this division under any other name or at any other place of business…
      • § 23024 Each licensee shall keep and use books, accounts, and records that will enable the commissioner to determine if the licensee is complying with the provisions…
      • § 23025 The department shall maintain a toll-free telephone number for deferred deposit transaction customers to make complaints and express concerns regarding the…
      • § 23026 On or before March 15 of each year, beginning March 2006, each licensee shall file an annual report with the commissioner pursuant to procedures that the…
      • § 23027 (a) No licensee shall advertise, print, display, publish, distribute, or broadcast, or cause or permit to be advertised, printed, displayed, published,…
  2. CHAPTER 2. Deferred Deposit Transactions §§ 23035–23038 · 4 sections
    • § 23035 (a) A licensee may defer the deposit of a customer’s personal check for up to 31 days, pursuant to the provisions of this section. The face amount of the check…
    • § 23036 (a) A fee for a deferred deposit transaction shall not exceed 15 percent of the face amount of the check. (b) A licensee may allow an extension of time, or a…
    • § 23037 In no case shall a licensee do any of the following: (a) Accept or use the same check for a subsequent transaction, or permit a customer to pay off all or a…
    • § 23038 (a) Any person who violates any provision of Section 987 of Title 10 of the United States Code, as amended by 126 Stat. 1785 (Public Law 112-239), or any…
  3. CHAPTER 3. Enforcement §§ 23045–23106 · 32 sections
    1. ARTICLE 1. Administrative Actions §§ 23045–23058 · 13 sections
      • § 23045 (a) Licenses issued under this division remain in effect until they are surrendered, revoked, or suspended. (b) The surrender of a license becomes effective 30…
      • § 23046 (a) For the purpose of discovering violations of this division or securing information required by the commissioner in the administration and enforcement of…
      • § 23047 (a) In making any examination or investigation, the commissioner may, for a reasonable time not to exceed 30 days, take possession of the books, records,…
      • § 23048 (a) The commissioner may require the attendance of witnesses and examine under oath all persons whose testimony the commissioner requires relative to…
      • § 23049 After an examination, investigation, or hearing under this division, if the commissioner deems it of public interest or advantage, the commissioner may certify…
      • § 23050 Whenever, in the opinion of the commissioner, any person is engaged in the business of deferred deposit transactions, as defined in this division, without a…
      • § 23051 (a) Whenever the commissioner believes from evidence satisfactory to the commissioner that any person has violated or is about to violate a provision of this…
      • § 23052 The commissioner may suspend or revoke any license, upon notice and reasonable opportunity to be heard, if the commissioner finds any of the following: (a) The…
      • § 23053 The commissioner may by order summarily suspend or revoke the license of any licensee if that person fails to file the report required by Section 23026 within…
      • § 23054 The revocation, suspension, expiration, or surrender of any license does not impair or affect the obligation of any preexisting lawful contract between the…
      • § 23055 The proceedings under this article shall be conducted in accordance with Chapter 5 (commencing with Section 11500) of Part 1 of Division 3 of Title 2 of the…
      • § 23056 Every order, decision, license, or other official act of the commissioner is subject to judicial review in accordance with law.
      • § 23058 (a) If, upon inspection, examination or investigation, based upon a complaint or otherwise, the department has cause to believe that a person is engaged in the…
    2. ARTICLE 2. Penalties for Misconduct §§ 23060–23063 · 4 sections
      • § 23060 (a) If any amount other than, or in excess of, the charges or fees permitted by this division is willfully charged, contracted for, or received, a deferred…
      • § 23061 (a) If any amount other than, or in excess of, the charges permitted by this division is charged, contracted for, or received in connection with a deferred…
      • § 23062 (a) If any provision of this division is violated in the making or collection of a deferred deposit transaction, for any reason other than a willful act of the…
      • § 23063 No provision imposing liability under this division, including the provisions of subdivision (a) of Section 23061 and subdivision (a) of Section 23062, shall…
    3. ARTICLE 3. Civil Damages §§ 23064–23064.5 · 2 sections
      • § 23064 Any person who is injured by any violation of this division may bring an action for the recovery of damages, an equity proceeding to restrain and enjoin those…
      • § 23064.5 The rights, remedies, and penalties established by this division are cumulative to the rights, remedies, or penalties established under other laws. It is not…
    4. ARTICLE 4. Crimes § 23065 · 1 section
      • § 23065 Any person, including a partner or officer of an entity that is a licensee, who willfully violates any provision of this division or who willfully violates any…
    5. ARTICLE 5. Transition Provisions §§ 23070–23074 · 5 sections
      • § 23070 (a) The Legislature finds and declares that it is in the public interest for the administration and enforcement of this division to be undertaken by the…
      • § 23071 The Commissioner of Financial Protection and Innovation and the Department of Financial Protection and Innovation shall succeed to, and are vested with, all…
      • § 23072 The Department of Financial Protection and Innovation may use the unexpended balance of funds available for use in connection with the performance of duties of…
      • § 23073 All officers and employees of the Department of Justice who, on the operative date of this division, are performing any duty, power, purpose, responsibility,…
      • § 23074 The Department of Financial Protection and Innovation shall have possession and control of all records, criminal history information, papers, equipment,…
    6. ARTICLE 6. Miscellaneous §§ 23100–23106 · 7 sections
      • § 23100 (a) Check cashers that hold a valid permit prior to January 1, 2003, issued pursuant to Section 1789.37 of the Civil Code, and that have been making deferred…
      • § 23101 Regulations of the commissioner adopted prior to June 30, 2003, to implement this division shall be adopted as emergency regulations. Upon receipt of the…
      • § 23102 The deferred deposits made pursuant to a permit issued under Section 1789.37 of the Civil Code prior to December 31, 2004, shall be subject to and enforced to…
      • § 23103 It is the intent of the Legislature that this division shall be administered and enforced with sufficient program resources and funding including personnel to…
      • § 23104 Except as provided in this article, the provisions of this division shall become effective on January 1, 2003, and shall become operative on December 31, 2004.…
      • § 23105 The provisions of this division are severable. If any provision of this division or its application is held invalid, that invalidity shall not affect other…
      • § 23106 This division creates and authorizes an exempt class of persons pursuant to Section 1 of Article XV of the California Constitution.