California Corporate & Securities Law

On September 30, 2018, California enacted SB 1235, codified at California Financial Codes sections 22800–22805. See California Will Soon Require Novel Disclosure Requirements Providers Of Commercial Financings . SB 1235 requires that an offer of...

For lenders in California, the Ides of March of March is a date worth calendaring. 

The California Financing Law provides that “[n]o person shall engage in the business of a finance lender or broker without obtaining a license from the commissioner.” Cal. Fin. Code § 22100(a). The CFL further provides that if any provision of the...

A lot has changed since George Gerro filed an action seeking a declaration that the California finance lender's license issued to BlockFi Lending LLC was both void and improperly issued: Blockfi has filed for bankruptcy; the Department of Financial...

It is a peculiar hubris of California's legislators that they often presume to extend the application of the state's laws beyond its legal borders. Corporations Code Section 2115, for example, presumes to apply multiple provisions of the California...

California generally requires that persons engaged in the business of making loans be licensed. If not licensed under some other statute (such as the banking, credit union or residential mortgage lending laws), a lender will generally be subject to...

Recently, I wrote about the California Office of Administrative Law's rejection of regulations proposed by the Department of Financial Protection & Innovation.  These proposed regulations were intended to "implement, interpret, and make specific...

Last week, Senator Steven M. Glazer introduced a bill, SB 1482, that would require licensing of "commercial financing providers" and "commercial financing brokers" with the Department of Financial Protection & Innovation under the California...

The California Finance Lenders Lawprohibits any "person" from engaging in the business of a "finance lender" without a license, unless otherwise exempt.  Cal. Fin. Code § 22100(a).   The CFL defines a "finance lender" as follows: