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AB 401 California Assembly · 2009-2010 Regular Session

Financial institutions: finance lenders: exemptions.

Summary
Existing law, the California Finance Lenders Law, provides for the licensure and regulation of finance lenders, as defined, by the Commissioner of Corporations and prohibits a person from engaging in the business of a finance lender or broker without a license. Until January 1, 2010, existing law exempts from its requirements a program-related investment by a private foundation, tax‑exempt organization, and a loan, guaranty, or investment made by a public charity, tax‑exempt organization meeting specified requirements. This bill would eliminate the January 1, 2010, sunset provision, allowing the exemptions to continue indefinitely.
Bill status signed all 5 stages cleared
Introduction
Feb 2009
Committee Review
Jun 2009
Assembly Passage
Apr 2009
Senate Passage
Jun 2009
Signed into Law
Aug 2009
Introduced Feb 23, 2009 Signed Aug 6, 2009
Floor votes · Senate Jun 24, 2009 · Assembly Apr 20, 2009

How they voted

39–0
Passed
Total votes 39
Jun 24, 2009
D Democratic25
25 Yea
100% Yea
R Republican14
14 Yea
100% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
20
Key actions
6
Committee
5
Aug 5, 2009
Signed into law
Approved by the Governor.
legislature
Jun 24, 2009
Senate · Passed
Senate Vote: pass (39-0)
senate
Jun 18, 2009
Upper · Passed
From committee: Do pass. To Consent Calendar. (June 17).
upper
Apr 30, 2009
Committee
Referred to Com. on B., F. & I.
upper
Apr 20, 2009
Assembly · Passed
Assembly Vote: pass (65-0-5)
assembly
Apr 14, 2009
Lower · Passed
From committee: Do pass. To Consent Calendar. (April 13).
lower
Mar 9, 2009
Committee
Referred to Com. on B. & F.
lower
Feb 24, 2009
Lower · Passed
From printer. May be heard in committee March 26.
lower
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
IR
Ira Ruskin
DDemocratic
CA
21