On Aug. 26, CAL LEG passed bill related to service of process.
CAL LEG reported passage of AB 2067 to permit a financial institution (FI) to designate a third-party agent, as defined, as its central location for service of legal process.
Would permit financial institution to designate third-party agent, as a central location for service of legal process, and would require designation of another central location.
Each central location must not be located in same county as another central location.
Financial institution may designate same third-party agent as multiple central locations for service of legal process if agent maintains physical locations in multiple counties.
Third-party agent means a non-financial institution entity, that is in the business of accepting service of legal process on behalf of financial institutions/other businesses.
Does not include licensed attorney or law firm acting on behalf of financial institution.
Legislative History
On Feb. 5, 2024, bill introduced in Assembly; on Apr. 18, 2024, bill passed Assembly.
On Apr. 18, 2024, bill delivered to Senate; on Aug. 12, 2024, bill passed in Senate.
On Aug. 12, 2024, bill sent to Assembly; on Aug. 19, 2024, amendments concurred in.
On Aug. 26, 2024, bill was enrolled and was sent to governor for signature or veto.
Effectiveness
If approved, bill becomes effective as of Jan. 1, 2025.
Sep. 2024 CAL LEG Governor Approval
On Sep. 12, 2024, CAL LEG reported bill was approved by governor, Chapter 222.
