Code Section Group

Financial Code - FIN

DIVISION 25. Debt Collection Licensing Act [100000 - 100025]

  ( Division 25 added by Stats. 2020, Ch. 163, Sec. 3. )

CHAPTER 1. General Provisions [100000 - 100002]

  ( Chapter 1 added by Stats. 2020, Ch. 163, Sec. 3. )

ARTICLE 1. Short Title [100000 - 100000.7]
  ( Article 1 added by Stats. 2020, Ch. 163, Sec. 3. )

100000.
  

This division shall be known, and may be cited, as the Debt Collection Licensing Act.

(Added by Stats. 2020, Ch. 163, Sec. 3. (SB 908) Effective January 1, 2021. Operative January 1, 2022, pursuant to Sec. 100000.5.)

100000.5.
  

(a) Except as set forth in this section, this division shall become operative on January 1, 2022.

(b) Commencing January 1, 2021, the commissioner shall take all actions necessary to prepare to be able, commencing January 1, 2022, to fully enforce the licensing and regulatory provisions of this division, including, but not limited to, adoption of all necessary regulations.

(c) The commissioner shall allow any debt collector that submits an application prior to January 1, 2022, to operate pending the approval or denial of the application.

(Added by Stats. 2020, Ch. 163, Sec. 3. (SB 908) Effective January 1, 2021.)

100000.7.
  

No county, city, or other political subdivision within this state shall require a debt collector to be licensed or to register as a debt collector.

(Added by Stats. 2020, Ch. 163, Sec. 3. (SB 908) Effective January 1, 2021. Operative January 1, 2022, pursuant to Sec. 100000.5.)

FINFinancial Code - FIN1.