California 2011-2012 Regular Session Status: In Committee

SB 365 — Deferred deposit transactions.

Last action — Returned to Secretary of Senate pursuant to Joint Rule 56.

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  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 2011-2012 Regular Session. It reached “In Committee” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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, the California Deferred Deposit Transaction Law, provides for the licensure and regulation by the Commissioner of Corporations of persons engaged in the business of making or negotiating deferred deposit transactions, as defined. Existing law requires an agreement to enter into a deferred deposit transaction to be in writing and to include specified information and disclosures. Existing law provides that a licensee shall not enter into an agreement for a deferred deposit transaction with a customer during the period of time that an earlier written agreement for a deferred deposit transaction for the same customer is in effect. A willful violation of the California Deferred Deposit Transaction Law is a crime. This bill would declare the intent of the Legislature to enact legislation that would authorize the commissioner to contract with a qualified 3rd-party provider for the implementation of a database to aid in the enforcement of the California Deferred Deposit Transaction Law. The bill would also clarify that a licensee shall not enter into an agreement for a deferred deposit transaction with a customer during the period of time that an earlier written agreement for a deferred deposit transaction for the same customer is in effect with any licensee.

Bill Text

Action History

  1. Returned to Secretary of Senate pursuant to Joint Rule 56.

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

  3. From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.I.

  4. Set for hearing April 27.

  5. From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.I.

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

  7. Set for hearing April 6.

  8. Referred to Coms. on B. & F.I. and JUD.

  9. From printer. May be acted upon on or after March 18.

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

Sponsors

Sponsorship breakdown

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

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

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"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
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Frequently asked questions

What does SB 365 do?
Existing law, the California Deferred Deposit Transaction Law, provides for the licensure and regulation by the Commissioner of Corporations of persons engaged in the business of making or negotiating deferred deposit transactions, as defined. Existing law requires an agreement to enter into a deferred deposit transaction to be in writing and to include specified information and disclosures. Existing law provides that a licensee shall not enter into an agreement for a deferred deposit transaction with a customer during the period of time that an earlier written agreement for a deferred deposit transaction for the same customer is in effect. A willful violation of the California Deferred Deposit Transaction Law is a crime. This bill would declare the intent of the Legislature to enact legislation that would authorize the commissioner to contract with a qualified 3rd-party provider for the implementation of a database to aid in the enforcement of the California Deferred Deposit Transaction Law. The bill would also clarify that a licensee shall not enter into an agreement for a deferred deposit transaction with a customer during the period of time that an earlier written agreement for a deferred deposit transaction for the same customer is in effect with any licensee.
Who sponsors SB 365?
SB 365 is sponsored by Bonnie Lowenthal.
What is the current status of SB 365?
This bill died with 2011-2012 Regular Session. It reached “In Committee” 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 365?
Track SB 365 free on One Click Politics — get push/email alerts when it moves.

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