California Business and Professions Code 7509.1 – (a) On or before July 1, 2017, the Governor shall appoint a …
(a) On or before July 1, 2017, the Governor shall appoint a Collateral Recovery Disciplinary Review Committee, and may remove any member of the committee for misconduct, incompetency, or neglect of duty. The committee shall consist of five members. Of the five members, three members shall be actively engaged in business as a licensed repossession agency and two members shall be public members. None of the public members shall be licensees, certificate holders, or registrants, or engaged in any business or profession in which any part of the fees, compensation, or revenue thereof is derived from any licensee.
(b) The disciplinary review committee shall meet every 60 days or more or less frequently as may be required. The members shall be paid per diem pursuant to Section 103 and shall be reimbursed for actual travel expenses. The members shall be appointed for a term of four years.
Terms Used In California Business and Professions Code 7509.1
- Collateral: means any specific vehicle, trailer, boat, recreational vehicle, motor home, appliance, or other property that is subject to a security agreement. See California Business and Professions Code 7500.1
- Licensee: means an individual, partnership, limited liability company, or corporation licensed under this chapter as a repossession agency. See California Business and Professions Code 7500.1
- Repossession: means any of the following:
California Business and Professions Code 7500.1
(c) This section shall become operative on July 1, 2017.
(Added by Stats. 2015, Ch. 740, Sec. 10. (AB 281) Effective January 1, 2016. Section operative July 1, 2017, by its own provisions.)