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AB-1334 Bail licenses: examination of books.(2017-2018)

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Date Published: 02/17/2017 09:00 PM
AB1334:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2017–2018 REGULAR SESSION

Assembly Bill No. 1334


Introduced by Assembly Member Rubio

February 17, 2017


An act to repeal and add Section 1802.75 of the Insurance Code, relating to bail licenses.


LEGISLATIVE COUNSEL'S DIGEST


AB 1334, as introduced, Rubio. Bail licenses: examination of books.
Existing law requires the Insurance Commissioner to make an examination of the books and records of the applicant for a bail license with the costs and expenses of the examination to be paid by the commissioner out of funds appropriated for support of the Department of Insurance.
This bill, among other things, would repeal those provisions and would instead require the commissioner, prior to licensure, and at any other time as he or she deems necessary in his or her discretion, to examine the books and affairs of persons or corporations subject to the bail licensing provisions. The bill would also place the costs of the examination on the person or corporation examined, except as provided.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: YES   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 1802.75 of the Insurance Code is repealed.
1802.75.

The commissioner shall make an examination of the books and records of the applicant. The costs and expenses of the examination shall be paid by the commissioner out of funds appropriated for support of the Department of Insurance.

SEC. 2.

 Section 1802.75 is added to the Insurance Code, to read:

1802.75.
 The commissioner shall, prior to licensure, and at any other time as he or she deems necessary in his or her discretion, examine the books and affairs of persons or corporations subject to this chapter. In making the examination, the commissioner shall have the same rights and authority as set forth in Sections 733 and 734, and the person or corporation examined shall be subject to the same terms and obligations as described in Section 736.