BILL NUMBER: AB 1446	AMENDED
	BILL TEXT

	AMENDED IN SENATE  JUNE 23, 2015
	AMENDED IN ASSEMBLY  APRIL 20, 2015

INTRODUCED BY   Assembly Member Dababneh

                        FEBRUARY 27, 2015

   An act to amend Section 22712 of the Financial Code, relating to
finance lenders.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 1446, as amended, Dababneh.  California Finance Lenders Law:
violations.
   Existing law authorizes the Commissioner of Business Oversight to
make general rules and regulations, specific rulings, demands, and
findings for enforcement relating to the California Finance Lenders
Law. Existing law, if the commissioner has cause to believe that a
licensee or any other person is violating the California Finance
Lenders Law, authorizes the commissioner to issue an order to the
licensee or person to desist and refrain from further violations, as
provided.
   This bill would additionally authorize, under the same
circumstances, the commissioner to issue that order for a violation
of any regulation or any other order adopted pursuant to the
California Finance Lenders Law.
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


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

  SECTION 1.  Section 22712 of the Financial Code is amended to read:

   22712.  (a) Whenever, in the opinion of the commissioner, any
person is engaged in the business as a broker or finance lender, or a
mortgage loan originator, as defined in  Section 22013,
  this division,  without a license from the
commissioner, or any licensee violates any provision of this
division, any provision of an order, or any regulation adopted
pursuant to this division, the commissioner may order that person or
licensee to desist and to refrain from engaging in the business or
further continuing that violation. If, within 30 days after the order
is served, a written request for a hearing is filed and no hearing
is held within 30 days thereafter, the order is rescinded. For
purposes of this section, "licensee" includes a mortgage loan
originator.
   (b) Notwithstanding subdivision (a), if, after an investigation,
the commissioner has reasonable grounds to believe that a person is
conducting business in an unsafe or injurious manner, the
commissioner shall, by written order addressed to that person, direct
the discontinuance of the unsafe or injurious practices. The order
shall be effective immediately, but shall not become final except in
accordance with the provisions of Section 22717.