SB3676 amends the Sales Finance Agency Act to update licensing requirements, fees, and penalties.
SB3676 amends the Sales Finance Agency Act to revise licensing requirements, fees, and penalties. It updates the application process to include a form prescribed by the Secretary and mandates a background investigation fee. The bill sets fees for initial and renewal licenses, including a nonrefundable fee for notices of changes. It increases the maximum civil penalty for violations from $1,000 to $10,000. The bill also grants additional investigatory, disciplinary, and examination authority to the Secretary and establishes rulemaking provisions.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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