California Legislature—2013–14 Regular Session

Assembly Bill No. 129

Introduced by Assembly Member Dickinson

January 15, 2013

An act to amend Section 22201 of the Financial Code, relating to finance lenders.

LEGISLATIVE COUNSEL’S DIGEST

AB 129, as introduced, Dickinson. Finance lenders.

Existing law, the California Finance Lenders Law, provides for the licensure and regulation by the Commissioner of Corporations of those engaged in making consumer loans, as defined, and makes a willful violation of its provisions a misdemeanor. Existing law defines the term charges for purposes of regulating consumer loans under the California Finance Lenders Law.

This bill would make a nonsubstantive change to these provisions.

Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.

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

SECTION 1.  

Section 22201 of the Financial Code is amended
to read:

22201.  

“Charges” include any profit or advantage of any kind
that a licensee may contract for, collect, receive, or obtain by a
collateral sale, purchase, or agreement, in connection with
negotiating, arranging, making, or begin delete otherwise end delete begin insert other act end insert in
connection with any loan.