BILL NUMBER: AB 1527	CHAPTERED  09/22/05

	CHAPTER  340
	FILED WITH SECRETARY OF STATE  SEPTEMBER 22, 2005
	APPROVED BY GOVERNOR  SEPTEMBER 22, 2005
	PASSED THE ASSEMBLY  AUGUST 29, 2005
	PASSED THE SENATE  AUGUST 22, 2005
	AMENDED IN SENATE  JULY 14, 2005
	AMENDED IN SENATE  JUNE 6, 2005
	AMENDED IN ASSEMBLY  APRIL 12, 2005

INTRODUCED BY   Assembly Member Liu

                        FEBRUARY 22, 2005

   An act to add Division 1.3 (commencing with Section 4100) to the
Financial Code, relating to financial institutions.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 1527, Liu  Financial institutions: accounts.
   Existing law provides for the regulation of certain depository
institutions by the Department of Financial Institutions, including
banks, savings associations, and industrial banks.
   This bill would prohibit a supervised financial institution from
issuing a consumer deposit account number to a customer if the
account number was previously held by another customer until at least
3 years have passed since that account was closed.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:


  SECTION 1.  Division 1.3 (commencing with Section 4100) is added to
the Financial Code, to read:

      DIVISION 1.3.  Financial Institutions

   4100.  On or after July 1, 2006, a supervised financial
institution shall not issue a consumer deposit account number to a
customer, if that account number was previously held by another
customer of the institution, until at least three years have passed
since the account of the other customer was closed. For purposes of
this section, "consumer deposit account number" means an account
number that the financial institution uses to identify a natural
person's checking account or share draft account established
primarily for personal, family, or household purposes and that
includes the routing number of that institution that is used to
identify the institution responsible for the payment of negotiable
instruments.