Check Sellers, Bill Payers and Proraters Law: exemption: nonprofit community service organizations.
It became law on Aug 19, 2024.
- Stage
- Became law
- Started in
- Senate
- Sponsor
- 1
- Latest action
- Aug 19, 2024
What it does
The Check Sellers, Bill Payers and Proraters Law (Proraters Law) prohibits, among other things, a person, without first obtaining a license from the Commissioner of Financial Protection and Innovation, from acting as a person who, for compensation, engages in whole or in part in the business of receiving money or evidences thereof for the purpose of distributing the money or evidences thereof among creditors in payment or partial payment of the obligations of the debtor. The Proraters Law exempts from the requirements of the law imposed on proraters a nonprofit community service organization that meets certain criteria, including that the nonprofit community service organization has as its…
Where it stands
This bill passed and is now law.
Introduced (Done)
Committee (Done)
Floor (Done)
Law (Done)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
Where it goes next
Once a bill is decided, the questions are about what is done with it in California.