California

Financial Code

3,323 sections, each with the official text and a plain-English explanation of what it means for you.

• § 2063 — (a) No agent of a licensee who has actual notice that the commissioner has suspended or revoked the license of the licensee or that the commissioner has issued an order taking possession of the proper
• § 207 — “State of the United States” means any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific I
• § 2081 — (a) A licensee shall at all times own eligible securities having an aggregate market value computed in accordance with United States generally accepted accounting principles of not less than the aggre
• § 2082 — (a) “Eligible security” means any United States currency eligible security or foreign currency eligible security.
• § 2083 — (a) In computing, for purposes of Section 2082, the aggregate value of eligible securities owned by a licensee, all of the following shall be excluded: (1) The value of any eligible security if and to
• § 2084 — (a) A licensee shall be deemed to own an eligible security only if the following apply: (1) (A) The licensee owns the eligible security solely and exclusively in its own right, both of record and bene
• § 2085 — If the commissioner finds that any eligible security or class of eligible securities is not of sufficient liquidity or quality to be eligible securities, the commissioner may by regulation or order de
• § 2086 — If the commissioner finds that any security or class of securities that is not an eligible security is of sufficient liquidity and quality to be an eligible security, the commissioner may by regulatio
• § 2087 — (a) If the commissioner finds that a rating assigned to a class of securities by an eligible securities rating service indicates that the class of securities is of sufficient quality to be eligible se
• § 2088 — (a) The commissioner may by regulation or order declare a credit rating agency to be an eligible securities rating service if the commissioner finds the following with respect to the securities rating
• § 2089 — A licensee shall maintain eligible securities that are adequately diversified, predominantly of a duration commensurate with the licensee’s outstanding money transmission obligations, and of sufficien
• § 209 — “Surviving,” when used with respect to a corporation, means a corporation in which one or more other corporations are merged.
• § 21 — All persons who, at the time this code goes into effect, hold office under any of the acts repealed by this code, which offices are continued by this code, continue to hold them according to their for
• § 2100 — (a) (1) Each licensee shall file with the commissioner a certified copy of every receipt form used by it or by its agent for receiving money for transmission prior to its first use.
• § 21000 — Every person engaged in the business of receiving goods, including motor vehicles, in pledge as security for a loan is a pawnbroker within the meaning of this division.
• § 21000.7 — As used in this division “receiving goods as security for a loan” does not include a good faith purchase of goods.
• § 21001 — “Compensation” includes expenses, interest, disbursements, storage charges, and all other charges of any nature in connection with a loan or forbearance.
• § 21002 — (a) As used in this division, “pledged property” is property held as security for a loan, the title to which remains with the pledgor and has not passed to the pawnbroker pursuant to Section 21201.
• § 21003 — For purposes of this division, the term “month” means a period of time consisting of 30 consecutive calendar days.
• § 2101 — Every licensee or its agent shall forward all money received for transmission or give instructions committing equivalent money to the person designated by the customer.
• § 2102 — (a) Every licensee or its agent shall refund to the customer within 10 days of receipt of the customer’s written request for a refund any and all money received for transmission unless any of the foll
• § 2103 — (a) In the case of money received for transmission, the licensee or its agent shall give the customer a receipt at the time of the transaction.
• § 2104 — Each licensee or agent shall prominently post on the premises of each branch office that issues or sells payment instruments, and at machines located in this state and operated by the licensee or agen
• § 2105 — (a) Each licensee or agent shall prominently post on the premises of each branch office that conducts money transmission a notice stating that: “If you have complaints with respect to any aspect of th
• § 21050 — This division does not apply to any of the following: (a) Any corporation organized for the purpose of securing credit from any federal intermediate credit bank organized and existing pursuant to the
• § 21051 — (a) The limitations with respect to rates and charges set forth in Sections 21200 and 21200.
• § 2106 — (a) No licensee shall sell or issue any form of payment instrument in California unless a certified copy of the payment instrument has first been filed with the commissioner.
• § 2107 — (a) A licensee shall prominently display on its internet website a toll-free telephone number through which a customer may contact the licensee for customer service issues and receive live customer as
• § 211 — “Uniform Interagency Trust Rating System (UITRS)” shall have the meaning set forth in the policy statement regarding the uniform interagency trust rating system published by the Federal Financial Inst
• § 2120 — (a) The commissioner may at any time and from time to time examine the business and any office, within or outside this state, of any licensee or any agent of a licensee in order to ascertain whether t
• § 21200 — (a) Except as otherwise provided in this chapter, no pawnbroker shall charge or receive compensation at a rate exceeding the sum of the following: (1) Three percent per month on the unpaid principal b
• § 21200.1 — A loan setup fee of seven dollars and fifty cents ($7.
• § 21200.10 — No licensed pawnbroker shall promise any seller of tangible personal property that the seller may repurchase property sold to the pawnbroker.
• § 21200.5 — A pawnbroker may charge as prescribed in the following schedule: Schedule of Charges (a) A charge not exceeding three dollars ($3) may be made on any loan for not more than three months which does not
• § 21200.6 — (a) In addition to other allowed charges, at the time property is redeemed or a replacement loan is issued pursuant to Section 21201.
• § 21200.7 — The maximum charge of compensation charged by a pawnbroker pursuant to the authority of Section 21200 shall be posted in a place clearly visible to the general public.
• § 21200.8 — In addition to other allowed charges, a pawnbroker may collect a processing charge of twenty dollars ($20) for each firearm pawned.
• § 21200.9 — In addition to other allowed charges, a pawnbroker may collect a remote transaction fee, if the pledgor elects to request a replacement loan or to redeem a loan through electronic means, of up to 3.
• § 21201 — (a) Every loan made by a pawnbroker for which goods are received in pledge as security shall be evidenced by a written contract, a copy of which shall be furnished to the pledgor.
• § 21201.1 — Whenever a pledger, or his or her assignee, loses a pawn ticket, a fee of not to exceed ten dollars ($10) may be charged for services of verifying the identification of the claimant, fingerprinting th
• § 21201.2 — If the pledgor fails to redeem any pawned item during the loan period, thereby obliging the pawnbroker to mail or electronically transmit the notice required under Section 21201, the pawnbroker may ch
• § 21201.3 — (a) The written contract required pursuant to Section 21201 shall contain a provision in 8-point type stating whether the item or items pledged are to be stored at the business premises of the pawnbro
• § 21201.4 — Charges for the first three months of any loan made pursuant to the written contract required by Section 21201 or 21201.
• § 21201.5 — (a) During the contractual loan period and any extension thereof, but prior to the start of the 10-day grace period provided in subdivision (d) of Section 21201, a pledgor may request, and a pawnbroke
• § 21201.6 — The requirement for a written contract signed by the pledgor as set forth in Section 21201.
• § 21202 — Every pawnbroker shall enter at the time of the transaction, in records of loans and pledges kept by him for that purpose, the date, duration, amount, and rate of interest or charges of every loan mad
• § 21203 — Any property held in pawn which is not subject to a hold pursuant to Section 21647 of the Business and Professions Code shall be returned to the pledgor immediately upon redemption of the loan.
• § 21204 — Every pawnbroker, upon redemption of a loan contract, shall provide the borrower with a receipt that correctly states in detail all of the fees, charges, and compensation paid by the borrower to the p
• § 21205 — Representatives of the pawnbroker industry shall poll their members annually to gather data relating to the current financial condition of the California pawn industry.
• § 21206 — Every pawnbroker shall produce his or her records of loans and all pledged property, for inspection by the following persons: (a) Any officer holding a warrant authorizing him or her to search for per
• § 21206.7 — Whenever any property is taken from a pawnbroker by a peace officer which is alleged to be stolen property, the police officer shall give the pawnbroker a receipt for the property which shall contain
• § 21206.8 — (a) Notwithstanding the provisions of Chapter 12 (commencing with Section 1407) of Title 10 of Part 2 of the Penal Code, whenever property alleged to have been lost, stolen, or embezzled is taken from
• § 21207 — No pawnbroker shall receive anything in pledge from any person who is a minor.
• § 21208 — A pawnbroker shall comply with the reporting requirements imposed on secondhand dealers under Article 4 (commencing with Section 21625) of Chapter 9 of Division 8 of the Business and Professions Code.
• § 21209 — The violation of any provision of this chapter under circumstances where a person knows or should have known that a violation was being committed is a misdemeanor.
• § 2121 — The commissioner may consult and cooperate with other state or federal money transmission regulators in enforcing and administering this division.
• § 2122 — A licensee shall file a report with the commissioner within five business days after the licensee has reason to know of the occurrence any of the following events: (a) The filing of a petition by or a
• § 2123 — A licensee that is a money services business under the regulations adopted pursuant to the United States Bank Secrecy Act (31 C.
• § 2124 — (a) A licensee shall maintain the following records for determining its compliance with this division for at least three years: (1) A record of each payment instrument or stored value obligation sold.
• § 2125 — A licensee adding or replacing a key individual shall do all of the following: (a) Provide notice to the commissioner within 15 days after the effective date of the key individual’s appointment.
• § 2127 — Before January 1, 2025, a person licensed under this division to engage in the business of money transmission shall not be subject to a provision of the act adding this section to the extent that the
• § 213 — “Uniform Rating System for Informational Technology (URSIT)” shall have the meaning set forth in the policy statement regarding the uniform rating system for information technology published by the Fe
• § 21300 — (a) The chief of police, the sheriff, or, where appropriate, the police commission shall accept an application for and grant a license permitting the licensee to engage in the business of pawnbroker,
• § 21300.1 — It is unlawful for any person who is not duly licensed under this section to act as a pawnbroker or represent himself, herself, or a business entity to be a pawnbroker or a pawnbrokerage business enti
• § 21301 — (a) A license granted pursuant to Section 21300 shall be renewable the second year from the date of issue, and every other year thereafter, upon the filing of a renewal application, payment of a renew
• § 21301.1 — It is unlawful for any person to advertise his or her services as a pawnbroker, or to use any words or parts of words in any advertisements that connote a transaction involving the taking of tangible
• § 21302 — The district attorney or the Attorney General, in the name of the people of the State of California, may bring an action to enjoin the violation or the threatened violation of any regulation made pert
• § 21303 — (a) As a condition precedent to the issuance or renewal of a pawnbroker’s license the applicant shall file a pawnbroker’s two-year nonrevokable surety bond with the issuing authority, in the sum of tw
• § 21303.5 — (a) On and after January 1, 2026, as a condition precedent to issuing a new pawnbroker’s license, the applicant shall complete at least eight hours of prelicensing education approved by the California
• § 21304 — (a) As a condition precedent to the issuing of a pawnbroker’s license, the applicant shall file with the issuing authority a financial statement confirming that the applicant has at least one hundred
• § 21305 — A license issued pursuant to this chapter shall not be transferred or assigned.
• § 21306 — A pawnbroker licensed under Section 21300 is exempt from the licensing requirements under Sections 21641 and 21642 of the Business and Professions Code and may engage in any transaction involving tang
• § 21307 — Except as otherwise specifically provided, the violation of any provision of this chapter under circumstances where a person knows or should have known that a violation was being committed is a misdem
• § 21400 — This chapter shall be known, and may be cited, as the Pawnbroker Education Act.
• § 21401 — The Legislature finds and declares all of the following: (a) Pawnbroker businesses provide a valuable source of short-term credit for economically vulnerable consumers and the state’s unbanked populat
• § 21403 — (a) The California Pawnbroker Education Council is hereby established to carry out the responsibilities and duties described in this chapter.
• § 21405 — (a) The council shall, on or before January 1, 2026, develop and establish a standard course and curriculum in pawnbroker transactions that shall include at least eight hours of prelicensing education
• § 21407 — (a) Individuals, entities, agencies, and associations that propose to offer educational courses that satisfy the prelicensing or continuing education requirements of this chapter shall apply for and o
• § 21409 — (a) Beginning on January 1, 2026, the council shall issue a certificate to an applicant for a pawnbroker license, or a licensee applying for renewal of a pawnbroker license, who has satisfied the educ
• § 21411 — Nothing in this chapter authorizes the council to approve, deny, revoke, or suspend a license issued pursuant to Section 21300.
• § 21413 — This chapter shall remain in effect only until January 1, 2029, and as of that date is repealed.
• § 2148 — (a) If it appears to the commissioner that a licensee is violating or has violated, or is failing or has failed to comply with any law of this state, the commissioner may direct the licensee to comply
• § 2149 — (a) The commissioner may issue an order suspending or revoking a license, or taking possession of and placing a licensee in receivership, if after notice and an opportunity for hearing, the commission
• § 215 — “Vote” has the meaning set forth in Section 194 of the Corporations Code.
• § 2150 — (a) The commissioner may issue an order suspending or revoking the designation of an agent if, after notice and an opportunity for hearing, the commissioner finds that: (1) The agent violated this div
• § 2150.1 — (a) Every order, decision, or other official act of the commissioner is subject to review in accordance with law.
• § 2150.2 — (a) If the commissioner finds that any of the factors set forth in Section 2149 is true with respect to any licensee and that it is necessary for the protection of the public interest, the commissione
• § 2151 — (a) If the commissioner finds that any of the factors set forth in Section 2150 is true with respect to any agent and that it is necessary for the protection of the public interest, the commissioner m
• § 2151.1 — The commissioner may assess a civil penalty against a person that violates this division or a regulation adopted or an order issued under this division in an amount not to exceed one thousand dollars
• § 2152 — (a) A person that intentionally makes a false statement, misrepresentation, or false certification in a record filed or required to be maintained under this division or that intentionally makes a fals
• § 2153 — The enforcement provisions of this division are in addition to any other enforcement powers that the commissioner may have under law.
• § 217 — “Voting power” has the meaning set forth in Section 194.
• § 2170 — Any licensee may surrender its license by filing with the commissioner the license and a report with any information as the commissioner requires.
• § 2171 — If any provision of this division or the application thereof to any person or circumstances is held invalid, illegal, or unenforceable, that invalidity, illegality, or unenforceability shall not affec
• § 2172 — (a) A license issued under the former Chapter 14 (commencing with Section 1800), Chapter 14A (commencing with Section 1851), or the former Division 16 (commencing with Section 33000) that is in effect
• § 2174 — (a) The commissioner may prepare written decisions, opinion letters, and other formal written guidance to be issued to persons seeking clarification regarding the requirements of this division.
• § 2175 — The commissioner may offer informal guidance to any prospective applicant for a license under this division, regarding the conditions of licensure that may be applied to that person.
• § 2176 — At any time, if the commissioner deems it necessary for the general welfare of the public, he or she may exercise any power set forth in this division with respect to a money transmission business, re
• § 22 — Notwithstanding any other provision of this code, Chapter 10 (commencing with Section 10000) of Division 2 shall be known and may be cited as the Vuich-Calderon Financial Institutions Act of 1986.
• § 22000 — This division is known and may be cited as the “California Financing Law.
• § 22001 — (a) This division shall be liberally construed and applied to promote its underlying purposes and policies, which are: (1) To ensure an adequate supply of credit to borrowers in this state.
• § 22002 — To accomplish its underlying purposes and policies, this division creates a class of exempt persons pursuant to Section 1 of Article XV of the California Constitution.
• § 22003 — Unless the context otherwise requires, the definitions given in this article govern the construction of this division.
• § 22003.5 — “Assessment contract” means an agreement entered into between all property owners of record on real property and a public agency in which, for voluntary contractual assessments imposed on the real pro
• § 22004 — “Broker” includes any person who is engaged in the business of negotiating or performing any act as broker in connection with loans made by a finance lender.
• § 22005 — “Commissioner” means the Commissioner of Financial Protection and Innovation.
• § 22006 — As used in this division, the terms “security interest,” “accounts,” “chattel paper,” “documents,” “general intangibles,” “goods,” and “instruments” are as defined in the Uniform Commercial Code.
• § 22007 — (a) “Licensee” means any finance lender, broker, or program administrator who receives a license in accordance with this division.
• § 22008 — “Person” means an individual, a corporation, a partnership, a limited liability company, a joint venture, an association, a joint stock company, a trust, an unincorporated organization, a government,
• § 22009 — “Finance lender” includes any person who is engaged in the business of making consumer loans or making commercial loans.
• § 22010 — (a) “Finance lender,” “broker,” and “program administrator” do not include employees regularly employed at the location specified in the license of the finance lender, broker, or program administrator
• § 22011 — A “regulatory ceiling provision” is a statement in a section or subdivision that specifies an original bona fide principal loan amount at or above which that section or subdivision does not apply to a
• § 22012 — (a) “Branch office license” means a license to engage in business as a finance lender or broker at a location other than the location identified in a finance lender or broker license application or am
• § 22013 — (a) “Mortgage loan originator” means an individual who, for compensation or gain, or in the expectation of compensation or gain, takes a residential mortgage loan application or offers or negotiates t
• § 22014 — (a) A loan processor or underwriter who does not represent to the public, through advertising or other means of communicating or providing information, including the use of business cards, stationery,
• § 22015 — “PACE assessment” means a voluntary contractual assessment, voluntary special tax, or special tax, as described in subdivisions (a), (b), and (c) of Section 26054 of the Public Resources Code.
• § 22016 — “PACE program” means a program in which financing is provided for the installation of efficiency improvements on real property and funded through the use of property assessments, as well as other prog
• § 22017 — (a) “PACE solicitor” means a person authorized by a program administrator to solicit a property owner to enter into an assessment contract.
• § 22018 — (a) “Program administrator” means a person administering a PACE program on behalf of, and with the written consent of, a public agency.
• § 22018.5 — “Property owner” means all property owners of record on the property subject to the PACE assessment.
• § 22019 — “Efficiency improvement” means one or more permanent improvements fixed to real property financed through a PACE assessment.
• § 22020 — “Public agency” means a city, including a charter city, county, city and county, municipal utility district, community services district, community facilities district, joint powers authority, sanitar
• § 22050 — (a) This division does not apply to any person doing business under any law of any state or of the United States relating to banks, trust companies, savings and loan associations, insurance premium fi
• § 22050.5 — This division does not apply to any person who makes no more than one loan in a 12-month period if that loan is a commercial loan as defined in Section 22502.
• § 22051 — This division does not apply to the following: (a) Any nonprofit cooperative association organized under Chapter 1 (commencing with Section 54001) of Division 20 of the Food and Agricultural Code that
• § 22052 — This division does not apply to any loan of credit made by a person not licensed under this division pursuant to a plan having all of the following characteristics: (a) Credit cards issued pursuant to
• § 22053 — In any proceeding under this law, the burden of proving an exemption is upon the person claiming it.
• § 22054 — This division does not apply to bona fide conditional contracts of sale involving the disposition of personal property when these forms of sales agreements are not used for the purpose of evading this
• § 22055 — This division does not apply to premium financing as defined in Section 18563.
• § 22056 — This division does not apply to the California Infrastructure and Economic Development Bank, any program authorized pursuant to Chapter 1 (commencing with Section 14000) of Part 5 of Division 3 of Tit
• § 22057 — This division does not apply to any loan that is made or arranged by any person licensed as a real estate broker by the state and secured by a lien on real property, or to any licensed real estate bro
• § 22058 — This division does not apply to any cemetery broker licensed under the Cemetery Act (Chapter 19 (commencing with Section 9600) of Division 3 of the Business and Professions Code).
• § 22059 — A license to act as a broker under this division does not authorize the licensee to negotiate or perform any act as a broker in connection with loans made or to be made by a lender not licensed as a f
• § 22060 — This division does not apply to a loan made or arranged by a licensed residential mortgage lender or servicer when acting under the authority of that license.
• § 22061 — (a) This division does not apply to any nonprofit church extension fund.
• § 22062 — (a) This division does not apply to either of the following: (1) A commercial bridge loan made by a venture capital company to an operating company.
• § 22063 — (a) This division does not apply to a franchise loan made by a franchisor to a franchisee or a subfranchisor or by a subfranchisor to a franchisee.
• § 22064 — (a) This division does not apply to the following: (1) A program-related investment defined in subsection (c) of Section 4944 of the Internal Revenue Code and United States Treasury Regulations Sectio
• § 22065 — (a) Persons not subject to this division may apply to the commissioner for an exempt company registration for the purpose of sponsoring one or more individuals required to be licensed as mortgage loan
• § 22066 — (a) The Legislature finds and declares that nonprofit organizations have an important role to play in helping individuals obtain access to affordable, credit-building small dollar loans.
• § 22067 — (a) On or before July 1 of each year, the commissioner shall post a report on the department’s internet website summarizing the information described in subdivision (b).
• § 22068 — (a) The exemptions and exclusions in this article are not applicable to a person engaged in business as a program administrator or a PACE solicitor.
• § 22100 — (a) No person shall engage in the business of a finance lender or broker without obtaining a license from the commissioner.
• § 22100.5 — (a) A person shall not engage in the business of a program administrator without obtaining a license from the commissioner.
• § 22101 — (a) An application for a license as a finance lender, broker, or program administrator under this division shall be in the form and contain the information that the commissioner may by rule or order r
• § 22101.5 — (a) The commissioner shall submit to the Department of Justice fingerprint images and related information required by the Department of Justice of all finance lender, broker, or program administrator
• § 22102 — (a) A finance lender, broker, or program administrator licensee seeking to engage in business at a new location shall submit an application for a branch office license to the commissioner at least 10
• § 22103 — (a) At the time of filing the application for a finance lender, broker, program administrator, or branch office license, the applicant shall pay to the commissioner the sum of one hundred dollars ($10
• § 22104 — (a) The applicant shall file with the application for a finance lender, broker, or program administrator license financial statements prepared in accordance with generally accepted accounting principl
• § 22105 — (a) Upon the filing of an application pursuant to Section 22101 and the payment of the fees, the commissioner shall investigate the applicant and its general partners and persons owning or controlling
• § 22105.1 — (a) An applicant for a mortgage loan originator license shall apply by submitting the uniform form prescribed for such purpose by the Nationwide Mortgage Licensing System and Registry.
• § 22105.2 — (a) The commissioner is authorized to establish relationships or contracts with the Nationwide Mortgage Licensing System and Registry or other entities designated by the Nationwide Mortgage Licensing
• § 22105.3 — (a) Except as otherwise provided in Section 1512 of the SAFE Act, the requirements under any federal or state law regarding the privacy or confidentiality of any information or material provided to th
• § 22105.4 — The commissioner shall regularly report violations of this division, as well as enforcement actions and other relevant information, to the Nationwide Mortgage Licensing System and Registry, to the ext
• § 22106 — (a) The finance lender, broker, or program administrator 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
• § 22107 — (a) Each finance lender, broker, or program administrator licensee shall pay to the commissioner its pro rata share of all costs and expenses, including the costs and expenses associated with the lice
• § 22108 — (a) The commissioner may by rule require licensees to file, at the times that he or she may specify, the information that he or she may reasonably require regarding any changes in the information prov
• § 22109 — (a) Upon reasonable notice and opportunity to be heard, the commissioner may deny the application for a finance lender, broker, or program administrator license for any of the following reasons: (1) A
• § 22109.1 — (a) The commissioner shall deny an application for a mortgage loan originator license unless the commissioner makes, at a minimum, the following findings: (1) The applicant has never had a mortgage lo
• § 22109.2 — (a) An applicant for a mortgage loan originator license shall complete at least 20 hours of education approved in accordance with subdivision (b).
• § 22109.3 — (a) An applicant for a mortgage loan originator license shall pass a qualified written test developed or otherwise deemed acceptable by the Nationwide Mortgage Licensing System and Registry and admini
• § 22109.4 — (a) A mortgage loan originator shall comply with the requirements of this section on or before December 31 of every year.
• § 22109.5 — (a) A licensed mortgage loan originator shall complete at least eight hours of continuing education approved in accordance with subdivision (b).
• § 22109.6 — In addition to any other duties imposed upon the commissioner by law, the commissioner shall require mortgage loan originators to be licensed and registered through the Nationwide Mortgage Licensing S
• § 22110 — The proceedings for a 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 commissione
• § 22111 — All money paid or collected under this division shall be deposited in the State Treasury to the credit of the State Corporations Fund.
• § 22112 — (a) A licensee shall maintain a surety bond in accordance with this subdivision in a minimum amount of twenty-five thousand dollars ($25,000).
• § 22150 — 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 divis
• § 22151 — (a) A finance lender license, broker license, program administrator license, and the license of every mortgage loan originator employed by a lender or finance broker, along with any currently effectiv
• § 22152 — (a) A finance lender, broker, or program administrator licensee shall maintain only one place of business under a duplicate or original license issued pursuant to Section 22101 or 22102.
• § 22153 — (a) If a finance lender, broker, or program administrator licensee seeks to change its place of business to a street address other than that designated in its license, the licensee shall provide notic
• § 22154 — (a) Subject to Section 22157.
• § 22155 — Subject to Section 22157.
• § 22156 — (a) Finance lender, broker, program administrator, and mortgage loan originator licensees shall keep and use in their business, books, accounts, and records which will enable the commissioner to deter
• § 22157 — (a) Finance lender, broker, and mortgage loan originator licensees shall preserve their books, accounts, and records, if any, for at least three years after making the final entry on any loan recorded
• § 22157.1 — (a) For purposes of this section: (1) “Encrypted” has the same meaning as provided in paragraph (4) of subdivision (i) of Section 1798.
• § 22158 — Nothing contained in Sections 22156 and 22157 shall require the maintenance or preservation of original records, provided that any information requested by the commissioner can be furnished within 48
• § 22159 — (a) Each finance lender, broker, and program administrator licensee shall file an annual report with the commissioner, on or before March 15th, giving the relevant information that the commissioner re
• § 22159.5 — (a) The commissioner may, as the commissioner deems necessary, require licensees to provide reports concerning their residential mortgage loan servicing activities, including, but not limited to, info
• § 22160 — The commissioner shall make and file annually with the Department of Financial Protection and Innovation as a public record a composite of the annual reports and any comments on the reports that the c
• § 22161 — (a) A person subject to this division shall not do any of the following: (1) Make a materially false or misleading statement or representation to a borrower about the terms or conditions of that borro
• § 22162 — (a) A finance lender, broker, or mortgage loan originator licensee shall not place an advertisement disseminated primarily in this state for a loan unless the licensee discloses in the printed text of
• § 22163 — (a) The commissioner may require that rates of charge, if stated by a licensee, be stated fully and clearly in the manner that the commissioner deems necessary to prevent misunderstanding by prospecti
• § 22164 — (a) If any person engaged in the business regulated by this division refers in any advertising to rates of interest, charges, or cost of loans or assessment contracts, the commissioner shall require t
• § 22165 — No advertising copy shall be used after its use has been disapproved by the commissioner and the licensee is notified in writing of the disapproval.
• § 22166 — The commissioner may require licensees to maintain a file of all advertising copy for a period of two years from the date of its use.
• § 22167 — A licensed finance lender may act as a broker as defined in Section 22004 at its licensed place of business without obtaining an additional license as a broker under this division provided the license
• § 22168 — (a) The commissioner may, after appropriate notice and opportunity for hearing, suspend for a period not to exceed 12 months or bar a person from any position of employment with a licensee if the comm
• § 22169 — (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 a person, including a mortgage loan originator
• § 22170 — (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, obstru
• § 22171 — (a) The commissioner shall apply the guidance on nontraditional mortgage product risks published on November 14, 2006, by the Conference of State Bank Supervisors and the American Association of Resid
• § 22172 — (a) The commissioner may do one or more of the following: (1) Deny, suspend, revoke, condition, or decline to renew a mortgage loan originator license for a violation of this division, or any rules or
• § 22200 — “Charges” include the aggregate interest, fees, bonuses, commissions, brokerage, discounts, expenses, and other forms of costs charged, contracted for, or received by a licensee or any other person in
• § 22201 — “Charges” include any profit or advantage of any kind that a licensee may contract for, collect, receive, or obtain by a collateral sale, purchase, or agreement, in connection with negotiating, arrang
• § 22202 — “Charges” do not include any of the following: (a) Commissions received as a licensed insurance agent or broker in connection with insurance written as provided in Section 22313.
• § 22203 — “Consumer loan” means a loan, whether secured by either real or personal property, or both, or unsecured, the proceeds of which are intended by the borrower for use primarily for personal, family, or
• § 22204 — (a) In addition to the definition of consumer loan in Section 22203, a “consumer loan” also means a loan of a principal amount of less than five thousand dollars ($5,000), the proceeds of which are in
• § 22250 — (a) The following sections do not apply to any loan of a bona fide principal amount of ten thousand dollars ($10,000) or more, or to a duly licensed finance lender in connection with any such loan or