Code Section Group

Financial Code - FIN

DIVISION 10. CALIFORNIA DEFERRED DEPOSIT TRANSACTION LAW [23000 - 23106]

  ( Division 10 added by Stats. 2002, Ch. 777, Sec. 10. )

CHAPTER 3. Enforcement [23045 - 23106]

  ( Chapter 3 added by Stats. 2002, Ch. 777, Sec. 10. )

ARTICLE 6. Miscellaneous [23100 - 23106]
  ( Article 6 added by Stats. 2002, Ch. 777, Sec. 10. )

23100.
  

(a) Check cashers that hold a valid permit prior to January 1, 2003, issued pursuant to Section 1789.37 of the Civil Code, and that have been making deferred deposits prior to January 1, 2003, shall do the following prior to engaging in the business of deferred deposits on or after December 31, 2004:

(1) Pay the assessment on or before May 15, 2003, pursuant to the provisions of this division for the 2003–04 fiscal year. The fees and assessments paid pursuant to this subdivision shall be nonrefundable.

(2) On or before May 15, 2003, submit a license application and pay a license fee pursuant to Article 2 (commencing with Section 23005).

(b) Any person that intends to engage in the business of deferred deposits after December 31, 2004, and that holds a check cashing permit from the Attorney General on or before January 2003 and fails to submit a license application or pay a license fee as provided in this subdivision, shall upon the request of the commissioner and applying for a license forfeit to the people of the state a sum of twenty-five dollars ($25) for every day or part of a day that the submission or payment is delayed or withheld. Applications will be processed in the order of the date received by the commissioner. Applications submitted prior to December 31, 2004, shall not be subject to subdivision (c) of Section 23011.

(c) The commissioner shall issue a license to a licensee under this division upon receiving payment of the assessment for the 2003–04 fiscal year, the license application, and fee and any additional information the commissioner may require in the application to demonstrate compliance with provisions of this division. The amount collected shall be deposited in the State Corporations Fund and shall be subject to appropriation by the Legislature for the 2003–04 fiscal year.

(Amended by Stats. 2004, Ch. 17, Sec. 16. Effective February 23, 2004. Provisions of this section are operative (no later than Dec. 31, 2004) as prescribed in Section 23104 and by Stats. 2004, Ch. 17, Sec. 20.)

23101.
  

Regulations of the commissioner adopted prior to June 30, 2003, to implement this division shall be adopted as emergency regulations. Upon receipt of the regulations, the Office of Administrative Law shall file the regulations with the Secretary of State for immediate effectiveness.

(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Provisions of this section are operative (no later than Dec. 31, 2004) as prescribed in Section 23104.)

23102.
  

The deferred deposits made pursuant to a permit issued under Section 1789.37 of the Civil Code prior to December 31, 2004, shall be subject to and enforced to the extent valid under Sections 1789.30 to 1789.37, inclusive, of the Civil Code, as if those sections were not repealed. Any regulation, order, or other action adopted, prescribed, taken, or performed by the Department of Justice or by an officer of that department in connection with deferred deposit transactions made prior to December 31, 2004, shall continue to apply to those transactions. No suit, action, or other proceeding lawfully commenced by or against the Department of Justice or any other officer of the state in relation to deferred deposit transactions made prior to December 31, 2004, shall abate by reason of the transfer of authority concerning deferred deposit transactions to the Department of Business Oversight pursuant to Section 23071.

(Amended by Stats. 2015, Ch. 190, Sec. 52. Effective January 1, 2016.)

23103.
  

It is the intent of the Legislature that this division shall be administered and enforced with sufficient program resources and funding including personnel to examine licensees as often as the commissioner deems necessary and appropriate but at least once every two years, and to authorize enforcement actions that are necessary and appropriate to protect the public. This act should be administered and enforced only to the extent funds are appropriated by the Legislature and made available for this purpose.

(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Provisions of this section are operative (no later than Dec. 31, 2004) as prescribed in Section 23104.)

23104.
  

Except as provided in this article, the provisions of this division shall become effective on January 1, 2003, and shall become operative on December 31, 2004. However, the commissioner shall have the power and authority to implement the provisions of this division prior to December 31, 2004.

(Amended by Stats. 2004, Ch. 17, Sec. 18. Effective February 23, 2004. Note: This section prescribes the operative date (no later than Dec. 31, 2004) for provisions of Division 10, commencing with Section 23000. See also Stats. 2004, Ch. 17, Sec. 20.)

23105.
  

The provisions of this division are severable. If any provision of this division or its application is held invalid, that invalidity shall not affect other provisions or applications that can be given effect without the invalid provision or application.

(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Provisions of this section are operative (no later than Dec. 31, 2004) as prescribed in Section 23104.)

23106.
  

This division creates and authorizes an exempt class of persons pursuant to Section 1 of Article XV of the California Constitution.

(Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Provisions of this section are operative (no later than Dec. 31, 2004) as prescribed in Section 23104.)

FINFinancial Code - FIN6.