California AB2116 amends the Financial Code to regulate commercial financing providers and brokers, setting licensing requirements, defining.

California AB2116 amends the Financial Code to regulate commercial financing providers and brokers. It mandates that individuals or entities offering commercial financing must obtain a license from the commissioner, with specific exceptions. The bill outlines prohibited practices, including unfair, deceptive, or abusive acts or practices in connection with commercial financing. It also sets requirements for record-keeping and reporting, including maintaining records for three years and submitting annual reports to the commissioner.

California AB2116 amends the Financial Code to regulate commercial financing providers and brokers, setting licensing requirements, defining.

California AB2116 amends the Financial Code to regulate commercial financing providers and brokers. It mandates that individuals or entities offering commercial financing must obtain a license from the commissioner, with specific exceptions. The bill outlines prohibited practices, including unfair, deceptive, or abusive acts or practices in connection with commercial financing. It also sets requirements for record-keeping and reporting, including maintaining records for three years and submitting annual reports to the commissioner.