California Financial Code

§ 23016

FIN § 23016 Effective Jan 1, 2025Div. 10 · Ch. 1 · Art. 3

Statute text

(a)(1) Each licensee shall pay to the commissioner its pro rata share of all costs and expenses reasonably incurred in the administration of this division, as estimated by the commissioner, for the ensuing year and any deficit actually incurred or anticipated in the administration of the program in the year in which the assessment is made.

(2)The pro rata share shall be the proportion that a licensee’s total dollar amount of deferred deposit transactions made bears to the aggregate total dollar amount of deferred deposit transactions made by all licensees as shown by the annual reports to the commissioner pursuant to Section 23026.

(3)Notwithstanding paragraph (2), a licensee shall neither be assessed for nor be permitted to pay less than five hundred dollars ($500) per licensed location per year.

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Legislative history

Amended by Stats. 2024, Ch. 252, Sec. 1. (AB 3148) Effective January 1, 2025.