New Laws
Jan. 22, 2014
AB 1091: Expanded exemption from lenders law
Assembly Bill 1091 amends certain sections of the California Financial Code collectively known as the California Finance Lenders Law (CFLL) to both expand the authority of the Department of Corporations to enforce the CFLL. By Arthel McDaniel III
Assembly Bill 1091 amends certain sections of the California Financial Code collectively known as the California Finance Lenders Law (CFLL) to both expand the authority of the Department of Corporations to enforce the CFLL and, most importantly for private investment funds, increase the de minimis commercial loan exemption from one to five loan transactions in any 12 month period. The revised language also specifically provides that such lo...
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