On Sep. 5, CAL LEG passed bill on pawnbrokers licensing education.
CAL LEG passed bill AB 2231 relating to education requirements for pawnbrokers.
Bill included establishment of the California Pawnbroker Education Counsel (CPEC).
Amended California financial codeCAL FIN 8-3-21300, add and repeal Section 21303.5, and to add and repeal Chapter 4 (commencing with Section 21400).
Bill Provisions
Requires pawnbroker applicant as condition to pawnbroker’s license to complete at least 8 hours of prelicensure education approved by CPEC, until Jan. 1, 2029.
As condition of renewal of pawnbrokers’ license, applicant to complete at least 8 hours of continuing education (CE), and certificate of completion, until Jan. 1, 2028.
CPEC must establish fees sufficient to support CPEC functions, cost of administration.
Requires CPEC to develop and establish standard course and curriculum in pawnbroker transactions to include at least 8 hours of prelicensing education, and 8 hours of CE.
Legislative History
On Feb. 8, 2024, bill introduced in Assembly; on May 22, 2024, bill passed Assembly.
On May 23, 2024, bill introduced into Senate; on Aug. 26, 2024, bill passed Senate.
On Sep. 5, 2024, bill enrolled, and presented to governor for review and approval.
Effectiveness
No effective date specified; generally effective Jan. 1 after enactment, on Jan. 1, 2025.
Sep. 12, 2024 CAL LEG Governor Approval
On Sep. 12, 2024, CAL LEG governor approved bill AB 2231, Ch 223 Statutes of 2024.
Regulators
CAL LEG
Entity Types
MSB
Reference
Ch 223, 9/12/2024; Bill, AB2231, 9/5/2024; Citation: CAL FIN 8-3-21300;
Functions
Compliance; C-Suite; Legal; Operations; Registration/Licensing; Training
