RepossessorsLicenses
Section § 7503
If you want a repossession agency license in California, you must apply in writing and pay a fee. The application needs to include your name, business name, business location, and usual hours. If you lie on your application, it's considered a misdemeanor. Personal details like your home address and driver's license number must be kept private. Your business name can't be misleading or sound like a government agency. You also need to know that giving dishonest answers might result in your application being denied, or your license being revoked later.
Section § 7503.05
In California, if you're applying to be a repossession agency licensee, have a qualified certificate, or are registering under specific sections, you'll need to have your fingerprints checked for criminal history both in the state and nationally. The responsible bureau will send your fingerprint information to the Department of Justice. This applies to individuals, partners, corporation officers, limited liability company owners, and qualified certificate holders involved. The Department of Justice will then provide the results of the background check.
Section § 7503.1
If you want to apply for an examination or are a manager, partner, or officer in a business, you need to submit a form with a recent photo, your fingerprints, and a personal description. The fingerprints will be used for a background check by the FBI. Also, if you aren't using electronic fingerprinting, you might need to pay a small fee for processing.
Section § 7503.10
This law is about how repossession agencies in California manage their licenses. An original license lasts for one year, and a renewed license lasts for two years. To keep the license from expiring, the agency has to renew it by sending back a form and paying any outstanding fines and the renewal fee. The state will send a reminder and a form to the agency 60 days before the license expires. When the license is issued or renewed, the agency gets an ID card with a photo, which shows the company's name.
Section § 7503.11
If you've let your professional license expire, you have one year to renew it. To do so, you need to follow all the rules laid out, fill out the necessary application, pay any outstanding fines, and cover the reinstatement fee. However, just because you can renew your license doesn't mean you can't face disciplinary action for any violations you committed while your license was expired.
Section § 7503.12
If a repossession agency has its license suspended, it still needs to renew the license according to the usual rules. However, renewing the license doesn’t mean the agency can operate again until the suspension is officially lifted. The agency can't do any work that breaks the rules tied to why the license was suspended in the first place.
Section § 7503.13
If a repossession agency license is revoked, it will still eventually expire, but you won’t be able to renew it. However, if you want to reinstate it after it expires, you’ll need to pay a fee. This fee includes the renewal cost from the last time it was renewed before being reinstated, plus any late fees that were due when it was revoked.
Section § 7503.14
If your repossession agency license in California has expired and you don't renew it within 10 years, you can't restore or renew it later. To get a new license, you must follow all the rules for getting a brand new one.
Section § 7503.2
If you're applying for a business license as an individual, you need to include your full home address in the application. You also have to say whether you'll be running the business yourself or if someone else will be in charge. If you're not going to be the one in charge, the application should include that person's name. Additionally, you need to mention if you've ever used a different name or alias. The application needs to be signed and confirmed by you and, if there's someone else in charge, by that person too.
Section § 7503.3
This section explains what a business partnership must include in their license application. They need to list the correct names and addresses of all partners and specify who will manage the business. If someone who isn't a partner will be in charge, their name and address must be included too. All partners and the manager, if not a partner, have to sign and verify the application. It should also mention if any partner has used a different name before.
Section § 7503.4
This law section explains the requirements for businesses applying for certain licenses. If a corporation is applying, they need to list all officers' true names and home addresses, as well as the person responsible for running the business and if any officer has used an alias. Similarly, if a limited liability company (LLC) is applying, they must list all owners' names and addresses, plus the name of the person in charge. The application must be signed by all relevant parties, and it should note if any owner used an alias. Finally, it states that LLCs cannot be licensed as repossession agencies.
Section § 7503.5
This law explains when a license application can be denied. If the applicant or those in charge, like managers or officers, have done certain bad things, the director can refuse to give them a license. Reasons for denial include committing dishonest acts, having past licenses refused or revoked, helping others act without a license, or lying on their application. If denied, the applicant can ask for a hearing within 30 days to contest the decision, following specific government procedures.
Section § 7503.6
Section § 7503.7
This law section states that the design and details of a license are to be decided by a director, following specific guidelines in another rule referred to as Section 164.
Section § 7503.8
A repossession agency must always display its license, including any duplicate and current renewal licenses, in a clearly visible spot at their registered business location.
Section § 7503.9
This law states that repossession agency licenses generally cannot be transferred to someone else. However, if a repossession agency wants to transfer its license to another business entity, it can apply for permission and pay a fee. The transfer is only allowed if the owners of the current license have full ownership of the new business immediately after the transfer.