7507. A licensee shall notify the bureau within 30 days of any change of its corporate officers or of the addition of any partners. Applications, on forms prescribed by the director, shall be submitted by all new officers and partners. The director may suspend or revoke a license issued under this chapter if the director […]
7507.1. A licensee or a qualified certificate holder shall, within 30 days after such change, notify the bureau of any change of his or her address. The principal place of business may be at a residence or at a business address, but it shall be the place at which the licensee maintains a permanent office. […]
7507.10. A licensee shall serve a debtor with a notice of seizure as soon as possible after the recovery of collateral and not later than 48 hours, except that if the 48-hour period encompasses a Saturday, Sunday, or postal holiday, the notice of seizure shall be provided not later than 72 hours or, if the […]
7507.11. Any written report to a client shall be submitted by the licensee, the qualified certificate holder, or a person authorized by one or either of them, and the person submitting the report shall exercise diligence in ascertaining whether or not the facts and information in the report are true and correct. (Added by Stats. […]
7507.115. (a) A licensee shall not appraise or determine the value of any collateral, whether damaged or not. (b) (1) Notwithstanding subdivision (a), a licensee may complete a condition report that makes a general assessment of the collateral. (2) A condition report does not include all damage or missing parts. (3) A condition report shall include the following statement: “In […]
7507.12. (a) With regard to collateral subject to registration under the Vehicle Code, a repossession is complete if any of the following occurs: (1) The repossessor gains entry to the collateral. (2) The collateral becomes connected to a tow truck or the repossessor’s tow vehicle, as those terms are defined in Section 615 of the Vehicle Code. (3) The […]
7507.125. Nothing in this chapter prohibits the using or taking of personal effects that are connected, adjoined, or affixed to the collateral through an unbroken sequence, if that use or taking is reasonably necessary to effectuate the recovery in a safe manner or to protect the collateral or personal effects. Nothing in this chapter prohibits […]
7507.13. (a) A licensed repossession agency is not liable for the act or omission of a legal owner, debt collector, debtor, lienholder, lessor, lessee, or registered owner, or an agent of any of them, in making an assignment or repossession order to it or for accepting an assignment or repossession order from any legal owner, debt […]
7507.2. (a) A licensee is responsible for those actions that are performed in violation of this chapter by his or her registrants, including his or her manager, when acting within the course and scope of his or her employment or contract. (b) Each licensee shall maintain a file or record of the name, address, commencing date of […]
7507.3. A repossession agency shall be required to keep and maintain adequate records of all transactions, including, but not limited to, assignment or repossession order forms; vehicle report of repossession required by Section 28 of the Vehicle Code; vehicle condition reports, including odometer readings, if available; personal effects inventory; notice of seizure; and records of […]
7507.4. A licensed repossession agency or its registrants shall not make demand for payment in lieu of repossession and shall not sell collateral recovered under this chapter. (Amended by Stats. 2013, Ch. 340, Sec. 3. (AB 791) Effective January 1, 2014.)
7507.5. No charge shall be made for services incurred in connection with the recovery, transportation, and storage of collateral except under terms agreed to by the legal owner at the time of the repossession authorization or specifically agreed upon at a subsequent time. Repair work, cleaning, or detailing shall not be performed and shall not […]
7507.6. (a) Within seven days after a violent act has occurred involving a licensee, or any officer, partner, qualified certificate holder, registrant, or employee of a licensee, while acting within the course and scope of his or her employment or contract, that results in a police report or bodily harm or bodily injury, the licensee or […]
7507.7. Within seven days after receiving a final civil court judgment filed against the licensee or any officer, partner, qualified certificate holder, or registrant of a licensee, for an amount of more than the then prevailing maximum claim that may be brought in a small claims court pertaining to an act done within the course […]
7507.8. Every advertisement by a licensee, soliciting or advertising business, shall contain the licensee’s name, address, and license number as they appear in the records of the bureau. (Added by Stats. 1981, Ch. 1138, Sec. 11.)
7507.9. Personal effects shall be removed from the collateral, including any personal effect that is mounted but detachable from the collateral by a release mechanism. A complete and accurate inventory of the personal effects shall be made, and the personal effects shall be labeled and stored by the licensee for a minimum of 60 days […]
