BILL NUMBER: SB 875	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Gaines

                        JANUARY 14, 2016

   An act to amend Section 21000 of the Financial Code, relating to
pawnbrokers.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 875, as introduced, Gaines. Pawnbrokers: definition.
   Existing law regulates pawnbrokers by, among other things,
limiting the maximum monthly rates a pawnbroker may charge and
requiring specific posted disclosures of those rates. A knowing
violation of the laws regulating pawnbrokers is a crime.
   This bill would make nonsubstantive changes to the definition of a
pawnbroker.
   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 21000 of the Financial Code is amended to read:

   21000.   Every   A  person engaged in
the business of receiving goods,  including 
including, but not limited to,  motor vehicles, in pledge as
security for a loan is a pawnbroker within the meaning of this
division.