Licenses under this law stay valid until they're given up, taken away, or suspended. If you want to give up your license, it usually takes 30 days after you apply for the surrender to become official, unless there are special conditions applied or an investigation going on. Even if a license is surrendered, suspended, or revoked, the commissioner can still investigate the license. The commissioner can take action for the public's welfare regardless of whether a license has been applied for or is active. They can temporarily suspend a license if they think business is being done unsafely, but a hearing is required. Giving up a license doesn't remove liability for past actions.

This law allows the commissioner to investigate businesses that offer payday loans, known legally as deferred deposits, at least once every two years. The investigation involves examining their financial records and operations to ensure compliance with regulations.

The businesses must cover the costs of these investigations. The commissioner can access all relevant business documents and premises during examinations and may go to court to recover the cost if needed. The cost is calculated based on the average hourly examination cost for that fiscal year.

This law allows the commissioner to temporarily take control of a business's records and documents for up to 30 days if they're conducting an examination or investigation. During this time, the commissioner can assign a keeper to oversee these documents at their usual location. They can't be removed without the commissioner's permission or a court order.

While the documents are under the commissioner's custody, company officials and employees can still look at them and update them with current operations or transactions.

The commissioner has the authority to require people to testify under oath and produce records related to businesses or transactions that fall under this division. This includes examining witnesses on the matters being investigated. If requested, businesses must provide their books and records for review in California within 10 days of receiving a written request from the commissioner.

When the commissioner investigates a matter and finds it in the public's interest, they can send a report to the local authorities where the issue happened. However, the details of these reports have to stay confidential according to the rules in another part of the law.

The commissioner can stop someone from doing payday loans without a license or breaking related rules. They issue an order telling them to stop. If you get such an order, you have 30 days to ask for a hearing. If no hearing happens within the next 30 days, the order is canceled.

This section gives the California commissioner the power to take legal action if they believe someone has broken or is about to break specific financial rules. They can stop the person from continuing their illegal actions through court orders like injunctions. The commissioner can also ask the court to provide additional remedies like restitution, which means returning money to those affected. Violating these financial rules can result in a fine of up to $2,500 for each instance. Moreover, these penalties can be combined with other legal remedies to ensure compliance with the financial rules.

The commissioner can suspend or take away a license if certain conditions are met, after notifying the license holder and giving them a chance to explain themselves. These conditions include not following the commissioner's orders, breaking any rules or regulations related to the license, or if a fact or situation now exists that would have prevented the license from being approved in the first place.

The commissioner can immediately suspend or cancel a license if a license holder does not file a necessary report on time, even after being reminded. If the licensee asks for a hearing within 30 days, and it doesn't happen within 60 days, the suspension or cancellation is automatically revoked back to when it started.

If a license is revoked, suspended, expired, or surrendered, any legal contract that was already in place between the license holder and a borrower remains valid and enforceable. This means the obligations within those contracts are still binding despite changes in the license status.

This law section explains that any procedures related to it must follow specific rules set out in a different part of the Government Code. It also states that the commissioner involved in these processes has full authority as outlined in those rules.

If the commissioner makes an official decision or action, such as granting a license or issuing an order, you can have a court review it to make sure it's legal and fair.

This law required a report by December 1, 2007, on how deferred deposit transactions, commonly known as payday loans, are being implemented in California. The report needed to cover topics like demand for payday loans, industry growth, business practices, advertising methods, and any rule violations. Its goal was to help the Governor and Legislature decide if new laws were necessary to protect consumers. The commissioner was to suggest possible changes such as adjusting fees, transaction limits, or regulatory practices. Additionally, licensees had to provide any data needed for the study, which would be public but not include trade secrets.

This law explains that if the department believes someone is engaging in deferred deposit loan business without a license or violating related rules, it can issue a written citation. The citation can include an order to stop the activity and a penalty of up to $2,500, which goes to the State Corporations Fund. These penalties are in addition to other possible legal actions.

If the person does not request a hearing within 30 days of receiving the citation, the decision is final. Hearings follow government procedures, giving the commissioner several powers. After review processes, the department may seek a court order for the penalty and compliance with its orders.