Small business: commercial financing transactions: monitoring fees.
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
- Stage
- Session ended
- Started in
- Senate
- Sponsor
- 1
- Latest action
- Feb 29, 2024
What it does
Existing law, the California Financing Law, generally regulates commercial loans made by licensees. Existing law prohibits a covered entity, as defined, from charging specified fees in connection with a commercial financing transaction with a small business or small business owner. In this regard, existing law prohibits a fee for monitoring the small business's collateral unless the underlying commercial financing transaction is delinquent for more than 60 days. Existing law entitles a recipient to specified relief if a covered entity violates these provisions.
Where it stands
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
Introduced (Done)
Committee (Current step)
Floor (Needs attention)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
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Where it goes next
While a bill can still move, the questions are about people and money in California.