Government Affairs Legal Affairs Grassroots Federal PAC Guide Issue Briefs Current Legislation

Bank Operations Legislation as of 5/18/2008 AB 1301 (Gaines ) Financial institutions.    This bill updates and recasts provisions of the Banking Law and the Department of Financial Institutions (DFI), contained in the Financial Code, which have not materially changed since 1951.     Assigned Kevin Gould Position Support Priority 3   AB 1502 (Lieu ) Banking development districts.    This bill states the intent of the legislature to create a California Banking Development District (BDD) Program, which encourages the establishment of banking branches in specially designated geographic locations where there is a demonstrated need for banking services.    Assigned Alex Alanis Position Support Priority 3   AB 2123 (Lieu ) California Financial Literacy Initiative.    This bill establishes the California Financial Literacy Initiative and attempts to improve financial literacy by offering instructional materials to citizens of California.    Assigned Alex Alanis Position Support Priority 3   AB 2642 (Niello ) Unclaimed property.    This measure extends the dormancy period on unclaimed property from three years to seven before it is required to escheat to the state.    Assigned Kevin Gould Position Support Priority 3   AB 2944 (Leno ) Corporations: director's duties.    Would specify that, in considering the best interests of the corporation, the board of directors, committees of the board, and individual directors of a domestic corporation may consider specified factors, including, among others, the effect the corporation's actions would have on the prospects for potential growth and on the economy of the state and nation. The bill would enact related provisions relative to the consideration of these factors and the duties of the board of directors, committees of the board, and individual directors of a domestic corporation.     Assigned Kevin Gould Position Oppose Priority 3   AB 3013 (Levine ) Judgment liens: continuation.    Would authorize a continuation statement, as defined, to be filed not more than 6 months before the expiration of the 5-year period of the judgment lien. A continuation statement would extend the effectiveness of the judgment lien for another 5 years commencing on the date the lien would have expired. The bill would authorize the filing of successive continuation statements. The bill would set forth the circumstances under which the lien would be extinguished. In that case, the bill would require the judgment creditor to file a statement of release within 20 days after the judgment creditor receives an authenticated demand from a judgment debtor. The bill would also authorize the person who made the demand to apply for an order releasing the judgment lien, as specified, if the judgment creditor does not file a statement of release pursuant to that provision. The bill would set forth related fees and definitions for these provisions, and provide for attorney's fees in an action or proceeding maintained pursuant to these provisions. The bill would provide that a court order to release the judgment lien may be filed in the office of the Secretary of State.     Assigned Kevin Gould Position Support Priority 3   SB 303 (Ducheny ) Local government: land use planning.    This bill requires cities and counties to update their general plans at least every ten years to accommodate a planning period of at least 20 years, expands the housing element planning period from five to ten years, and requires cities and counties to complete any necessary rezonings to meet their housing needs concurrent with adoption of the housing element.    Assigned Yvette Ernst Position Support Priority 3   SB 1319 (Machado ) Unclaimed property: escheat.    This measure imposes significant new burdens on property holders and increases the exposure and amount of civil penalties assessed against property holders.    Assigned Kevin Gould Position Oppose Priority 1