State Codes and Statutes

Statutes > California > Fin > 23045-23058

FINANCIAL CODE
SECTION 23045-23058



23045.  (a) Licenses issued under this division remain in effect
until they are surrendered, revoked, or suspended.
   (b) The surrender of a license becomes effective 30 days after
receipt of an application to surrender the license or within a
shorter period of time that the commissioner may determine, unless a
revocation or suspension proceeding is pending when the application
is filed or a proceeding to revoke or suspend or to impose conditions
upon the surrender is instituted within 30 days after the
application is filed. If a proceeding is pending or instituted, the
surrender of a license becomes effective at the time and upon the
conditions that the commissioner determines.
   (c) The power of investigation and examination by the commissioner
is not terminated by the surrender, suspension, or revocation of any
license issued by the commissioner.
   (d) Whenever the commissioner deems it necessary for the general
welfare of the public, the commissioner shall have continuous
authority to exercise the powers set forth in this division whether
or not an application for a license has been filed with the
commissioner, any license has been issued, or if issued, has been
surrendered, suspended, or revoked.
   (e) The commissioner may, upon three days' notice and a hearing,
suspend any license for a period not exceeding 30 days, pending
investigation, where the commissioner believes that a person subject
to this division is conducting business in an unsafe or injurious
manner.
   (f) Any licensee may surrender any license by delivering to the
commissioner written notice that the licensee surrenders that license
pursuant to subdivision (b). The surrender of the license does not
affect the licensee's civil or criminal liability for acts committed
prior to the surrender of the license.



23046.  (a) For the purpose of discovering violations of this
division or securing information required by the commissioner in the
administration and enforcement of this division, the commissioner may
at any time, but not less than once every two years, investigate the
business of deferred deposits, and examine the books, accounts,
records, and files used in the business of deferred deposit
transactions, of every person engaged in the business of deferred
deposit transactions, whether the person acts or claims to act as a
principal or an agent, or under or without the authority of this
division. For the purpose of examination, the commissioner and the
commissioner's representatives shall have free access to the offices
and places of business, books, accounts, papers, records, files,
safes, and vaults of all these persons.
   (b) The cost of each examination of a licensee or a person subject
to this division shall be paid to the commissioner by the licensee
or person examined, and the commissioner may maintain an action for
the recovery of the cost in any court of competent jurisdiction. In
determining the cost of an examination, the commissioner may use the
estimated average hourly cost for all persons performing examinations
of licensees or other persons subject to this division for the
fiscal year.



23047.  (a) In making any examination or investigation, the
commissioner may, for a reasonable time not to exceed 30 days, take
possession of the books, records, accounts, and other papers
pertaining to the business. The commissioner may place a keeper in
exclusive charge and custody of the books, records, accounts, and
other papers in the office or place where they are usually kept.
During possession by the keeper, no person shall remove or attempt to
remove any of the books, accounts, papers, records, files, safes,
and vaults, or any part thereof, except in compliance with a court
order or written consent of the commissioner.
   (b) The officers, employees, partners, directors, and stockholders
may inspect and examine the books, accounts, papers, records, files,
safes, and vaults while they are in the custody of the commissioner.
Employees may make entries in these documents reflecting current
operations or transactions.



23048.  (a) The commissioner may require the attendance of witnesses
and examine under oath all persons whose testimony the commissioner
requires relative to transactions or business regulated by this
division or to the subject matter of any examination, investigation,
or hearing.
   (b) The commissioner may require the production for examination in
this state of all books, records, and supporting data used by the
licensee in the preparation of reports to the commissioner. The
books, records, and supporting data shall be made available for
examination by the commissioner in this state within 10 days after a
written demand.


23049.  After an examination, investigation, or hearing under this
division, if the commissioner deems it of public interest or
advantage, the commissioner may certify a record to the proper
prosecuting official of the city, county, or city and county in which
the act complained of, examined, or investigated occurred. The data
and records shall be kept confidential pursuant to Chapter 3.5
(commencing with Section 6250) of Division 7 of Title 1 of the
Government Code and any regulations adopted thereunder.



23050.  Whenever, in the opinion of the commissioner, any person is
engaged in the business of deferred deposit transactions, as defined
in this division, without a license from the commissioner, or any
licensee is violating any provision of this division, the
commissioner may order that person or licensee to desist and to
refrain from engaging in the business or further violating this
division. If within 30 days, after the order is served, a written
request for a hearing is filed and no hearing is held within 30 days
thereafter, the order is rescinded.



23051.  (a) Whenever the commissioner believes from evidence
satisfactory to the commissioner that any person has violated or is
about to violate a provision of this division, or a provision of any
order, license, decision, demand, requirement, or any regulation
adopted pursuant to this division, the commissioner may, in the
commissioner's discretion, bring an action in the name of the people
of the State of California against that person to enjoin that person
from continuing that violation or doing any act in furtherance of the
violation. Upon a proper showing, a permanent or preliminary
injunction, restraining order, or writ of mandate shall be granted
and other ancillary relief may be granted as appropriate.
   (b) If the commissioner determines that it is in the public
interest, the commissioner may include in any action authorized by
subdivision (a) a claim for ancillary relief, including, but not
limited to, a claim for restitution, disgorgement, or damages on
behalf of the persons injured by the act or practice constituting the
subject matter of the action. The court shall have jurisdiction to
award additional relief.
   (c) Any person who violates any provision of this division, or who
violates any rule or order adopted pursuant to this division, shall
be liable for a civil penalty not to exceed two thousand five hundred
dollars ($2,500) for each violation, which shall be assessed and
recovered in a civil action brought in the name of the people of the
State of California by the commissioner in any court of competent
jurisdiction.
   (d) As applied to the penalties for acts in violation of this
division, the remedies provided by this section and by other sections
of this division are not exclusive, and may be sought and employed
in any combination to enforce the provisions of this division.



23052.  The commissioner may suspend or revoke any license, upon
notice and reasonable opportunity to be heard, if the commissioner
finds any of the following:
   (a) The licensee has failed to comply with any demand, ruling, or
requirement of the commissioner made pursuant to and within the
authority of this division.
   (b) The licensee has violated any provision of this division or
any rule or regulation made by the commissioner under and within the
authority of this division.
   (c) A fact or condition exists that, if it had existed at the time
of the original application for the license, reasonably would have
warranted the commissioner in refusing to issue the license
originally.


23053.  The commissioner may by order summarily suspend or revoke
the license of any licensee if that person fails to file the report
required by Section 23026 within 10 days after notice by the
commissioner that the report is due and not filed. If, after an order
is made, a request for hearing is filed in writing within 30 days
and the hearing is not held within 60 days thereafter, the order is
deemed rescinded as of its effective date.



23054.  The revocation, suspension, expiration, or surrender of any
license does not impair or affect the obligation of any preexisting
lawful contract between the licensee and any borrower.



23055.  The proceedings under this article shall be conducted in
accordance with Chapter 5 (commencing with Section 11500) of Part 1
of Division 3 of Title 2 of the Government Code, and in all cases the
commissioner has all the powers granted therein.



23056.  Every order, decision, license, or other official act of the
commissioner is subject to judicial review in accordance with law.



23057.  On December 1, 2007, the commissioner shall report to the
Governor and the Legislature on its implementation of this division.
The report shall include, at a minimum, information regarding the
demand for deferred deposit transactions, the growth and trends in
the industry, common practices for conducting the business of
deferred deposit transactions, the advertising practices of the
industry, including any violations of Section 23027, and any other
information the commissioner deems necessary to inform the Governor
and the Legislature regarding potential legislation that may be
necessary to protect the people of the State of California. The
commissioner's recommendations for future action may include, but are
not limited to, changes in the fees charged to consumers,
specifications regarding the length of time for deferred deposit
transactions, maximum amount provided to consumers, additional
regulation of advertising practices, and the implementation of an
installment loan product in lieu of a deferred deposit transaction as
described in this division.
   As the commissioner conducts this study, licensees shall be
required to supply all information the commissioner deems necessary.
The study shall be made public and may not include any proprietary
information.



23058.  (a) If, upon inspection, examination or investigation, based
upon a complaint or otherwise, the department has cause to believe
that a person is engaged in the business of deferred deposit
transactions without a license, or a licensee or person is violating
any provision of this division or any rule or order thereunder, the
department may issue a citation to that person in writing, describing
with particularity the basis of the citation. Each citation may
contain an order to desist and refrain and an assessment of an
administrative penalty not to exceed two thousand five hundred
dollars ($2,500). All penalties collected under this section shall be
deposited in the State Corporations Fund.
   (b) The sanctions authorized under this section shall be separate
from, and in addition to, all other administrative, civil, or
criminal remedies.
   (c) If within 30 days from the receipt of the citation of the
person cited fails to notify the department that the person intends
to request a hearing as described in subdivision (d), the citation
shall be deemed final.
   (d) Any hearing under this section shall be conducted in
accordance with Chapter 5 (commencing with Section 11500) of Part 1
of Division 3 of Title 2 of the Government Code, and in all states
the commissioner has all the powers granted therein.
   (e) After the exhaustion of the review procedures provided for in
this section, the department may apply to the appropriate superior
court for a judgment in the amount of the administrative penalty and
order compelling the cited person to comply with the order of the
department. The application, which shall include a certified copy of
the final order of the department, shall constitute a sufficient
showing to warrant the issuance of the judgment and order.


State Codes and Statutes

Statutes > California > Fin > 23045-23058

FINANCIAL CODE
SECTION 23045-23058



23045.  (a) Licenses issued under this division remain in effect
until they are surrendered, revoked, or suspended.
   (b) The surrender of a license becomes effective 30 days after
receipt of an application to surrender the license or within a
shorter period of time that the commissioner may determine, unless a
revocation or suspension proceeding is pending when the application
is filed or a proceeding to revoke or suspend or to impose conditions
upon the surrender is instituted within 30 days after the
application is filed. If a proceeding is pending or instituted, the
surrender of a license becomes effective at the time and upon the
conditions that the commissioner determines.
   (c) The power of investigation and examination by the commissioner
is not terminated by the surrender, suspension, or revocation of any
license issued by the commissioner.
   (d) Whenever the commissioner deems it necessary for the general
welfare of the public, the commissioner shall have continuous
authority to exercise the powers set forth in this division whether
or not an application for a license has been filed with the
commissioner, any license has been issued, or if issued, has been
surrendered, suspended, or revoked.
   (e) The commissioner may, upon three days' notice and a hearing,
suspend any license for a period not exceeding 30 days, pending
investigation, where the commissioner believes that a person subject
to this division is conducting business in an unsafe or injurious
manner.
   (f) Any licensee may surrender any license by delivering to the
commissioner written notice that the licensee surrenders that license
pursuant to subdivision (b). The surrender of the license does not
affect the licensee's civil or criminal liability for acts committed
prior to the surrender of the license.



23046.  (a) For the purpose of discovering violations of this
division or securing information required by the commissioner in the
administration and enforcement of this division, the commissioner may
at any time, but not less than once every two years, investigate the
business of deferred deposits, and examine the books, accounts,
records, and files used in the business of deferred deposit
transactions, of every person engaged in the business of deferred
deposit transactions, whether the person acts or claims to act as a
principal or an agent, or under or without the authority of this
division. For the purpose of examination, the commissioner and the
commissioner's representatives shall have free access to the offices
and places of business, books, accounts, papers, records, files,
safes, and vaults of all these persons.
   (b) The cost of each examination of a licensee or a person subject
to this division shall be paid to the commissioner by the licensee
or person examined, and the commissioner may maintain an action for
the recovery of the cost in any court of competent jurisdiction. In
determining the cost of an examination, the commissioner may use the
estimated average hourly cost for all persons performing examinations
of licensees or other persons subject to this division for the
fiscal year.



23047.  (a) In making any examination or investigation, the
commissioner may, for a reasonable time not to exceed 30 days, take
possession of the books, records, accounts, and other papers
pertaining to the business. The commissioner may place a keeper in
exclusive charge and custody of the books, records, accounts, and
other papers in the office or place where they are usually kept.
During possession by the keeper, no person shall remove or attempt to
remove any of the books, accounts, papers, records, files, safes,
and vaults, or any part thereof, except in compliance with a court
order or written consent of the commissioner.
   (b) The officers, employees, partners, directors, and stockholders
may inspect and examine the books, accounts, papers, records, files,
safes, and vaults while they are in the custody of the commissioner.
Employees may make entries in these documents reflecting current
operations or transactions.



23048.  (a) The commissioner may require the attendance of witnesses
and examine under oath all persons whose testimony the commissioner
requires relative to transactions or business regulated by this
division or to the subject matter of any examination, investigation,
or hearing.
   (b) The commissioner may require the production for examination in
this state of all books, records, and supporting data used by the
licensee in the preparation of reports to the commissioner. The
books, records, and supporting data shall be made available for
examination by the commissioner in this state within 10 days after a
written demand.


23049.  After an examination, investigation, or hearing under this
division, if the commissioner deems it of public interest or
advantage, the commissioner may certify a record to the proper
prosecuting official of the city, county, or city and county in which
the act complained of, examined, or investigated occurred. The data
and records shall be kept confidential pursuant to Chapter 3.5
(commencing with Section 6250) of Division 7 of Title 1 of the
Government Code and any regulations adopted thereunder.



23050.  Whenever, in the opinion of the commissioner, any person is
engaged in the business of deferred deposit transactions, as defined
in this division, without a license from the commissioner, or any
licensee is violating any provision of this division, the
commissioner may order that person or licensee to desist and to
refrain from engaging in the business or further violating this
division. If within 30 days, after the order is served, a written
request for a hearing is filed and no hearing is held within 30 days
thereafter, the order is rescinded.



23051.  (a) Whenever the commissioner believes from evidence
satisfactory to the commissioner that any person has violated or is
about to violate a provision of this division, or a provision of any
order, license, decision, demand, requirement, or any regulation
adopted pursuant to this division, the commissioner may, in the
commissioner's discretion, bring an action in the name of the people
of the State of California against that person to enjoin that person
from continuing that violation or doing any act in furtherance of the
violation. Upon a proper showing, a permanent or preliminary
injunction, restraining order, or writ of mandate shall be granted
and other ancillary relief may be granted as appropriate.
   (b) If the commissioner determines that it is in the public
interest, the commissioner may include in any action authorized by
subdivision (a) a claim for ancillary relief, including, but not
limited to, a claim for restitution, disgorgement, or damages on
behalf of the persons injured by the act or practice constituting the
subject matter of the action. The court shall have jurisdiction to
award additional relief.
   (c) Any person who violates any provision of this division, or who
violates any rule or order adopted pursuant to this division, shall
be liable for a civil penalty not to exceed two thousand five hundred
dollars ($2,500) for each violation, which shall be assessed and
recovered in a civil action brought in the name of the people of the
State of California by the commissioner in any court of competent
jurisdiction.
   (d) As applied to the penalties for acts in violation of this
division, the remedies provided by this section and by other sections
of this division are not exclusive, and may be sought and employed
in any combination to enforce the provisions of this division.



23052.  The commissioner may suspend or revoke any license, upon
notice and reasonable opportunity to be heard, if the commissioner
finds any of the following:
   (a) The licensee has failed to comply with any demand, ruling, or
requirement of the commissioner made pursuant to and within the
authority of this division.
   (b) The licensee has violated any provision of this division or
any rule or regulation made by the commissioner under and within the
authority of this division.
   (c) A fact or condition exists that, if it had existed at the time
of the original application for the license, reasonably would have
warranted the commissioner in refusing to issue the license
originally.


23053.  The commissioner may by order summarily suspend or revoke
the license of any licensee if that person fails to file the report
required by Section 23026 within 10 days after notice by the
commissioner that the report is due and not filed. If, after an order
is made, a request for hearing is filed in writing within 30 days
and the hearing is not held within 60 days thereafter, the order is
deemed rescinded as of its effective date.



23054.  The revocation, suspension, expiration, or surrender of any
license does not impair or affect the obligation of any preexisting
lawful contract between the licensee and any borrower.



23055.  The proceedings under this article shall be conducted in
accordance with Chapter 5 (commencing with Section 11500) of Part 1
of Division 3 of Title 2 of the Government Code, and in all cases the
commissioner has all the powers granted therein.



23056.  Every order, decision, license, or other official act of the
commissioner is subject to judicial review in accordance with law.



23057.  On December 1, 2007, the commissioner shall report to the
Governor and the Legislature on its implementation of this division.
The report shall include, at a minimum, information regarding the
demand for deferred deposit transactions, the growth and trends in
the industry, common practices for conducting the business of
deferred deposit transactions, the advertising practices of the
industry, including any violations of Section 23027, and any other
information the commissioner deems necessary to inform the Governor
and the Legislature regarding potential legislation that may be
necessary to protect the people of the State of California. The
commissioner's recommendations for future action may include, but are
not limited to, changes in the fees charged to consumers,
specifications regarding the length of time for deferred deposit
transactions, maximum amount provided to consumers, additional
regulation of advertising practices, and the implementation of an
installment loan product in lieu of a deferred deposit transaction as
described in this division.
   As the commissioner conducts this study, licensees shall be
required to supply all information the commissioner deems necessary.
The study shall be made public and may not include any proprietary
information.



23058.  (a) If, upon inspection, examination or investigation, based
upon a complaint or otherwise, the department has cause to believe
that a person is engaged in the business of deferred deposit
transactions without a license, or a licensee or person is violating
any provision of this division or any rule or order thereunder, the
department may issue a citation to that person in writing, describing
with particularity the basis of the citation. Each citation may
contain an order to desist and refrain and an assessment of an
administrative penalty not to exceed two thousand five hundred
dollars ($2,500). All penalties collected under this section shall be
deposited in the State Corporations Fund.
   (b) The sanctions authorized under this section shall be separate
from, and in addition to, all other administrative, civil, or
criminal remedies.
   (c) If within 30 days from the receipt of the citation of the
person cited fails to notify the department that the person intends
to request a hearing as described in subdivision (d), the citation
shall be deemed final.
   (d) Any hearing under this section shall be conducted in
accordance with Chapter 5 (commencing with Section 11500) of Part 1
of Division 3 of Title 2 of the Government Code, and in all states
the commissioner has all the powers granted therein.
   (e) After the exhaustion of the review procedures provided for in
this section, the department may apply to the appropriate superior
court for a judgment in the amount of the administrative penalty and
order compelling the cited person to comply with the order of the
department. The application, which shall include a certified copy of
the final order of the department, shall constitute a sufficient
showing to warrant the issuance of the judgment and order.



State Codes and Statutes

State Codes and Statutes

Statutes > California > Fin > 23045-23058

FINANCIAL CODE
SECTION 23045-23058



23045.  (a) Licenses issued under this division remain in effect
until they are surrendered, revoked, or suspended.
   (b) The surrender of a license becomes effective 30 days after
receipt of an application to surrender the license or within a
shorter period of time that the commissioner may determine, unless a
revocation or suspension proceeding is pending when the application
is filed or a proceeding to revoke or suspend or to impose conditions
upon the surrender is instituted within 30 days after the
application is filed. If a proceeding is pending or instituted, the
surrender of a license becomes effective at the time and upon the
conditions that the commissioner determines.
   (c) The power of investigation and examination by the commissioner
is not terminated by the surrender, suspension, or revocation of any
license issued by the commissioner.
   (d) Whenever the commissioner deems it necessary for the general
welfare of the public, the commissioner shall have continuous
authority to exercise the powers set forth in this division whether
or not an application for a license has been filed with the
commissioner, any license has been issued, or if issued, has been
surrendered, suspended, or revoked.
   (e) The commissioner may, upon three days' notice and a hearing,
suspend any license for a period not exceeding 30 days, pending
investigation, where the commissioner believes that a person subject
to this division is conducting business in an unsafe or injurious
manner.
   (f) Any licensee may surrender any license by delivering to the
commissioner written notice that the licensee surrenders that license
pursuant to subdivision (b). The surrender of the license does not
affect the licensee's civil or criminal liability for acts committed
prior to the surrender of the license.



23046.  (a) For the purpose of discovering violations of this
division or securing information required by the commissioner in the
administration and enforcement of this division, the commissioner may
at any time, but not less than once every two years, investigate the
business of deferred deposits, and examine the books, accounts,
records, and files used in the business of deferred deposit
transactions, of every person engaged in the business of deferred
deposit transactions, whether the person acts or claims to act as a
principal or an agent, or under or without the authority of this
division. For the purpose of examination, the commissioner and the
commissioner's representatives shall have free access to the offices
and places of business, books, accounts, papers, records, files,
safes, and vaults of all these persons.
   (b) The cost of each examination of a licensee or a person subject
to this division shall be paid to the commissioner by the licensee
or person examined, and the commissioner may maintain an action for
the recovery of the cost in any court of competent jurisdiction. In
determining the cost of an examination, the commissioner may use the
estimated average hourly cost for all persons performing examinations
of licensees or other persons subject to this division for the
fiscal year.



23047.  (a) In making any examination or investigation, the
commissioner may, for a reasonable time not to exceed 30 days, take
possession of the books, records, accounts, and other papers
pertaining to the business. The commissioner may place a keeper in
exclusive charge and custody of the books, records, accounts, and
other papers in the office or place where they are usually kept.
During possession by the keeper, no person shall remove or attempt to
remove any of the books, accounts, papers, records, files, safes,
and vaults, or any part thereof, except in compliance with a court
order or written consent of the commissioner.
   (b) The officers, employees, partners, directors, and stockholders
may inspect and examine the books, accounts, papers, records, files,
safes, and vaults while they are in the custody of the commissioner.
Employees may make entries in these documents reflecting current
operations or transactions.



23048.  (a) The commissioner may require the attendance of witnesses
and examine under oath all persons whose testimony the commissioner
requires relative to transactions or business regulated by this
division or to the subject matter of any examination, investigation,
or hearing.
   (b) The commissioner may require the production for examination in
this state of all books, records, and supporting data used by the
licensee in the preparation of reports to the commissioner. The
books, records, and supporting data shall be made available for
examination by the commissioner in this state within 10 days after a
written demand.


23049.  After an examination, investigation, or hearing under this
division, if the commissioner deems it of public interest or
advantage, the commissioner may certify a record to the proper
prosecuting official of the city, county, or city and county in which
the act complained of, examined, or investigated occurred. The data
and records shall be kept confidential pursuant to Chapter 3.5
(commencing with Section 6250) of Division 7 of Title 1 of the
Government Code and any regulations adopted thereunder.



23050.  Whenever, in the opinion of the commissioner, any person is
engaged in the business of deferred deposit transactions, as defined
in this division, without a license from the commissioner, or any
licensee is violating any provision of this division, the
commissioner may order that person or licensee to desist and to
refrain from engaging in the business or further violating this
division. If within 30 days, after the order is served, a written
request for a hearing is filed and no hearing is held within 30 days
thereafter, the order is rescinded.



23051.  (a) Whenever the commissioner believes from evidence
satisfactory to the commissioner that any person has violated or is
about to violate a provision of this division, or a provision of any
order, license, decision, demand, requirement, or any regulation
adopted pursuant to this division, the commissioner may, in the
commissioner's discretion, bring an action in the name of the people
of the State of California against that person to enjoin that person
from continuing that violation or doing any act in furtherance of the
violation. Upon a proper showing, a permanent or preliminary
injunction, restraining order, or writ of mandate shall be granted
and other ancillary relief may be granted as appropriate.
   (b) If the commissioner determines that it is in the public
interest, the commissioner may include in any action authorized by
subdivision (a) a claim for ancillary relief, including, but not
limited to, a claim for restitution, disgorgement, or damages on
behalf of the persons injured by the act or practice constituting the
subject matter of the action. The court shall have jurisdiction to
award additional relief.
   (c) Any person who violates any provision of this division, or who
violates any rule or order adopted pursuant to this division, shall
be liable for a civil penalty not to exceed two thousand five hundred
dollars ($2,500) for each violation, which shall be assessed and
recovered in a civil action brought in the name of the people of the
State of California by the commissioner in any court of competent
jurisdiction.
   (d) As applied to the penalties for acts in violation of this
division, the remedies provided by this section and by other sections
of this division are not exclusive, and may be sought and employed
in any combination to enforce the provisions of this division.



23052.  The commissioner may suspend or revoke any license, upon
notice and reasonable opportunity to be heard, if the commissioner
finds any of the following:
   (a) The licensee has failed to comply with any demand, ruling, or
requirement of the commissioner made pursuant to and within the
authority of this division.
   (b) The licensee has violated any provision of this division or
any rule or regulation made by the commissioner under and within the
authority of this division.
   (c) A fact or condition exists that, if it had existed at the time
of the original application for the license, reasonably would have
warranted the commissioner in refusing to issue the license
originally.


23053.  The commissioner may by order summarily suspend or revoke
the license of any licensee if that person fails to file the report
required by Section 23026 within 10 days after notice by the
commissioner that the report is due and not filed. If, after an order
is made, a request for hearing is filed in writing within 30 days
and the hearing is not held within 60 days thereafter, the order is
deemed rescinded as of its effective date.



23054.  The revocation, suspension, expiration, or surrender of any
license does not impair or affect the obligation of any preexisting
lawful contract between the licensee and any borrower.



23055.  The proceedings under this article shall be conducted in
accordance with Chapter 5 (commencing with Section 11500) of Part 1
of Division 3 of Title 2 of the Government Code, and in all cases the
commissioner has all the powers granted therein.



23056.  Every order, decision, license, or other official act of the
commissioner is subject to judicial review in accordance with law.



23057.  On December 1, 2007, the commissioner shall report to the
Governor and the Legislature on its implementation of this division.
The report shall include, at a minimum, information regarding the
demand for deferred deposit transactions, the growth and trends in
the industry, common practices for conducting the business of
deferred deposit transactions, the advertising practices of the
industry, including any violations of Section 23027, and any other
information the commissioner deems necessary to inform the Governor
and the Legislature regarding potential legislation that may be
necessary to protect the people of the State of California. The
commissioner's recommendations for future action may include, but are
not limited to, changes in the fees charged to consumers,
specifications regarding the length of time for deferred deposit
transactions, maximum amount provided to consumers, additional
regulation of advertising practices, and the implementation of an
installment loan product in lieu of a deferred deposit transaction as
described in this division.
   As the commissioner conducts this study, licensees shall be
required to supply all information the commissioner deems necessary.
The study shall be made public and may not include any proprietary
information.



23058.  (a) If, upon inspection, examination or investigation, based
upon a complaint or otherwise, the department has cause to believe
that a person is engaged in the business of deferred deposit
transactions without a license, or a licensee or person is violating
any provision of this division or any rule or order thereunder, the
department may issue a citation to that person in writing, describing
with particularity the basis of the citation. Each citation may
contain an order to desist and refrain and an assessment of an
administrative penalty not to exceed two thousand five hundred
dollars ($2,500). All penalties collected under this section shall be
deposited in the State Corporations Fund.
   (b) The sanctions authorized under this section shall be separate
from, and in addition to, all other administrative, civil, or
criminal remedies.
   (c) If within 30 days from the receipt of the citation of the
person cited fails to notify the department that the person intends
to request a hearing as described in subdivision (d), the citation
shall be deemed final.
   (d) Any hearing under this section shall be conducted in
accordance with Chapter 5 (commencing with Section 11500) of Part 1
of Division 3 of Title 2 of the Government Code, and in all states
the commissioner has all the powers granted therein.
   (e) After the exhaustion of the review procedures provided for in
this section, the department may apply to the appropriate superior
court for a judgment in the amount of the administrative penalty and
order compelling the cited person to comply with the order of the
department. The application, which shall include a certified copy of
the final order of the department, shall constitute a sufficient
showing to warrant the issuance of the judgment and order.


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