[Approved by Governor June 28, 2013. Filed with Secretary of State June 28, 2013.]
SB 139, Hill. Exchange facilitators.
Existing law regulates persons engaging in business as exchange facilitators, as defined, including requiring compliance with certain bonding and insurance requirements, imposing specified notification requirements, and prohibiting specified acts. Existing law makes any person who violates these provisions subject to civil suit in a court of competent jurisdiction, as provided. These provisions remain in effect until January 1, 2014, at which point they would be repealed by their own terms.
This bill would remove the repeal date, thus continuing these provisions in effect indefinitely.
The people of the State of California do enact as follows:
Section 51015 of the Financial Code is repealed.
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