California AB2028 amends the Financial Code to adjust the assessment for deferred deposit transactions, ensuring a minimum payment and detailing the.

California AB2028 modifies Section 23016 of the Financial Code to change how assessments for deferred deposit transactions are calculated. Each licensee must pay a pro rata share of the costs and expenses for the administration of the program, based on their total dollar amount of deferred deposit transactions. A minimum payment of $500 per licensed location per year is established. The commissioner must notify licensees of their assessment by May 20th, with payment due within 30 days. Failure to pay by June 30th may result in the suspension or revocation of the licensee's certificate.

California AB2028 amends the Financial Code to adjust the assessment for deferred deposit transactions, ensuring a minimum payment and detailing the.

California AB2028 modifies Section 23016 of the Financial Code to change how assessments for deferred deposit transactions are calculated. Each licensee must pay a pro rata share of the costs and expenses for the administration of the program, based on their total dollar amount of deferred deposit transactions. A minimum payment of $500 per licensed location per year is established. The commissioner must notify licensees of their assessment by May 20th, with payment due within 30 days. Failure to pay by June 30th may result in the suspension or revocation of the licensee's certificate.