California 2009-2010 Regular Session Status: Introduced

SB 1151 — Discount buying services.

Last action — From committee without further action.

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  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed Assembly
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2009-2010 Regular Session. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Existing law provides that a discount buying organization is required to establish a trust account at a federally insured bank or savings and loan association for the deposit of contract payments, as specified. Existing law places certain restrictions on the ability of a discount buying organization to withdraw funds from this trust account. Existing law exempts an affiliate discount buying organization that meets certain requirements from these provisions, and specifies alternate trust account and trust funds withdrawal provisions for these affiliates. This bill would completely exempt an affiliate discount buying organization that operates under a parent in good standing, as defined, from all the requirements related to the establishment of or withdrawal of funds from a trust account.

Bill Text

What changed in the latest version

1 added · 1 removed

1 line(s) added, 1 removed.

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Action History

  1. From committee without further action.

  2. Set, first hearing. Hearing canceled at the request of author.

  3. Set for hearing April 27.

  4. To Com. on JUD.

  5. From print. May be acted upon on or after March 21.

  6. Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsors

  • Oropeza · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

  • Oropeza

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 1151 do?
Existing law provides that a discount buying organization is required to establish a trust account at a federally insured bank or savings and loan association for the deposit of contract payments, as specified. Existing law places certain restrictions on the ability of a discount buying organization to withdraw funds from this trust account. Existing law exempts an affiliate discount buying organization that meets certain requirements from these provisions, and specifies alternate trust account and trust funds withdrawal provisions for these affiliates. This bill would completely exempt an affiliate discount buying organization that operates under a parent in good standing, as defined, from all the requirements related to the establishment of or withdrawal of funds from a trust account.
Who sponsors SB 1151?
SB 1151 is sponsored by Oropeza.
What is the current status of SB 1151?
This bill died with 2009-2010 Regular Session. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 1151?
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Last checked for changes 3 months ago · updated continuously

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