BILL NUMBER: AB 1446	ENROLLED
	BILL TEXT

	PASSED THE SENATE  AUGUST 24, 2015
	PASSED THE ASSEMBLY  AUGUST 27, 2015
	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, 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.


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 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rescinded.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.