BILL NUMBER: AB 1548	INTRODUCED
	BILL TEXT


INTRODUCED BY   Committee on Banking and Finance (Nava (Chair),
Evans, Fong, Fuentes, Mendoza, Ruskin, Swanson, and Torres)

                        MARCH 9, 2009

   An act to add Section 33043.5 to the Financial Code, relating to
payment instruments.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 1548, as introduced, Committee on Banking and Finance. Payment
instruments.
   Existing law, the Payment Instruments Law, governs the sale of
payment instruments, as defined. Existing law requires a person to
obtain a license from the Commissioner of Financial Institutions in
order to engage in the business of selling payment instruments in
this state.
   This bill would define the term "authorized delegate," for
purposes of the Payment Instruments Law, to mean a person that a
licensee designates to provide money transmission services on behalf
of the licensee.
   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 33043.5 is added to the Financial Code, to
read:
   33043.5.  "Authorized delegate" means a person that a licensee
designates to provide money transmission services on behalf of the
licensee.