California Financing Law: commercial loans: investment advisers.

Legislative status

1. Introduced
2. In Committee
3. Reported by Committee
4. Floor Vote Scheduled
5. Passed One Chamber
6. Passed Both Chambers
7. Sent to Executive
8. Signed into Law

Summary

The bill lets investment advisers registered with the SEC apply for a California finance lender license to make commercial loans, and it extends that license to any affiliated advisers and the client accounts they manage. It adds reporting, bonding, net‑worth, and background‑check requirements, and limits the activity to larger commercial loans while preserving existing exemptions.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Vote

From committee: Do pass and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 12. Noes 0. Page 3757.) (April 7). Re-referred to Com. on APPR. · Apr 8, 2026

Hearings

• Appropriations Committee Hearing
  Appropriations · May 14, 2026
• Appropriations Committee Hearing
  Appropriations · Apr 20, 2026
• Appropriations
  Senate Appropriations Committee · Apr 20, 2026
• Judiciary Committee Hearing
  Judiciary · Apr 7, 2026
• Judiciary
  Senate Judiciary Committee · Apr 7, 2026

History

1. May 14, 2026May 14 hearing: Held in committee and under submission.
2. May 8, 2026Set for hearing May 14.
3. Apr 20, 2026April 20 hearing: Placed on APPR. suspense file.
4. Apr 10, 2026Set for hearing April 20.
5. Apr 8, 2026From committee: Do pass and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 12. Noes 0. Page 3757.) (April 7). Re-referred to Com. on APPR.
6. Mar 25, 2026Set for hearing April 7.
7. Mar 18, 2026From committee: Do pass and re-refer to Com. on JUD. (Ayes 6. Noes 0. Page 3599.) (March 18). Re-referred to Com. on JUD.
8. Feb 24, 2026Set for hearing March 18.
9. Feb 11, 2026Referred to Coms. on B. & F.I. and JUD.
10. Feb 5, 2026From printer. May be acted upon on or after March 7.
11. Feb 4, 2026Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsors

• Grayson · sponsor

Bill text

Opens the legislature’s own copy.

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