SB 1371 California Senate · 2015-2016 Regular Session

Credit disability insurance: premium payments.

Summary

The California Finance Lenders Law generally provides for the licensure and regulation of finance lenders and brokers by the Commissioner of Business Oversight, and makes a willful violation of its provisions a crime. The law authorizes a licensee to offer credit disability insurance under specified conditions and requires premiums to be made available on a monthly or annual premium basis. This bill would instead authorize credit disability insurance to be offered on a monthly, annual, or single premium basis. The bill would require, when a monthly premium is offered, the premium rate charged per month to not exceed a pro rata relationship to the annual or single premium.

Bill status passed 3 of 5 stages cleared

Introduction

Feb 2016

Committee Review

May 2016

Senate Passage

Apr 2016

Assembly Passage

Governor

Introduced Feb 19, 2016 Last action Jun 20, 2016

Floor votes · Senate Apr 18, 2016

How they voted

39–0

Passed · 1 other

Total votes 40

Apr 18, 2016

D Democratic26

26 Yea

100% Yea

R Republican14

13 Yea 1

92% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

May 12, 2016

Committee

Referred to Com. on B. & F.

lower

Apr 18, 2016

Senate · Passed

Senate Vote: pass (39-0-1)

senate

Apr 6, 2016

Upper · Passed

From committee: Do pass. (Ayes 7. Noes 0. Page 3417.) (April 6).

upper

Mar 31, 2016

Committee

Re-referred to Com. on B. & F.I.

upper

Mar 29, 2016

Committee

Re-referred to Com. on RLS.

upper

Mar 28, 2016

Committee

From committee with author's amendments. Read second time and amended. Re-referred to Com. on ED.

upper

Mar 3, 2016

Committee

Referred to Com. on ED.

upper

Feb 19, 2016

Introduced

Introduced. To Com. on RLS. for assignment. To print.

upper

1 primary · 0 co-sponsors