AB 2741, as introduced, Committee on Business, Professions and Consumer Protection. Professional Fiduciaries Bureau.
Existing law establishes the Professional Fiduciaries Bureau, within the Department of Consumer Affairs, and requires the bureau to license and regulate professional fiduciaries. Under existing law, the provisions establishing the bureau are in effect only until January 1, 2015, and upon repeal of those provisions the bureau will be subject to review by the appropriate policy committees of the Legislature.
This bill would extend those provisions until January 1, 2019.
Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no.
The people of the State of California do enact as follows:
Section 6510 of the Business and Professions
2Code is amended to read:
(a) There is within the jurisdiction of the department
4the Professional Fiduciaries Bureau. The bureau is under the
P2 1supervision and control of the director. The duty of enforcing and
2administering this chapter is vested in the chief of the bureau, who
3is responsible to the director. Every power granted or duty imposed
4upon the director under this chapter may be exercised or performed
5in the name of the director by a deputy director or by the chief,
6subject to conditions and limitations as the director may prescribe.
7(b) The Governor shall appoint, subject to confirmation by the
8Senate, the chief of the bureau, at a salary to be fixed and
9determined by the director with the approval of the Director of
10Finance. The chief shall serve under the direction and supervision
11
of the director and at the pleasure of the Governor.
12(c) begin insert(1)end insertbegin insert end insertThis section shall remain in effect only until January
131,begin delete 2015end deletebegin insert 2019end insert, and as of that date is repealed, unless a later enacted
14statute, that is enacted before January 1,begin delete 2015end deletebegin insert 2019end insert, deletes or
15extends that date.
16Notwithstanding
end delete
17begin insert(2)end insertbegin insert end insertbegin insertNotwithstanding end insertany other provision of law, the repeal of
18this section renders thebegin delete boardend deletebegin insert bureauend insert subject to review by the
19appropriate policy committees of the Legislature.
20Notwithstanding
end delete
21begin insert(3)end insertbegin insert end insertbegin insertNotwithstanding end insertany other provision of law, upon the repeal
22of this section, the responsibilities and jurisdiction of the
bureau
23shall be transferred to the Professional Fiduciaries Advisory
24Committee, as provided by Section 6511.
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