22680. (a) A person shall not engage in the business of a PACE solicitor unless that person is enrolled with a program administrator pursuant to the requirements of this section. (b) A program administrator shall establish and maintain a process for enrolling PACE solicitors that is acceptable to the commissioner. That process shall include both of the […]
22681. (a) A program administrator shall establish and maintain a training program for PACE solicitor agents that is acceptable to the commissioner. (b) A program administrator shall require each PACE solicitor agent to complete an introductory training that addresses the topics listed in subdivision (c) as part of the program administrator’s enrollment process for PACE solicitor agents. […]
22682. (a) A program administrator shall, in the manner prescribed by the commissioner, timely notify the commissioner of each PACE solicitor and PACE solicitor agent enrolled by the program administrator. (b) A program administrator shall, in the manner prescribed by the commissioner, timely notify the commissioner of each enrollment cancellation and withdrawal of a PACE solicitor or […]
22683. A program administrator shall develop and implement policies and procedures for responding to questions and addressing complaints as soon as reasonably practicable. (Added by Stats. 2017, Ch. 475, Sec. 71. (AB 1284) Effective October 4, 2017. Section operative January 1, 2019, pursuant to Section 22696.)
22684. A program administrator shall not execute an assessment contract, and no work shall commence under a home improvement contract that is financed by that assessment contract nor shall that home improvement contract be executed unless the following criteria are satisfied: (a) All property taxes for the property that will be subject to the assessment contract […]
22685. (a) A program administrator shall derive market value using one of the following: (1) Automated valuation models, using the following criteria: (A) Each automated valuation model must be provided by a third-party vendor. (B) Each automated valuation model must have estimation models with confidence scores and regular statistical calibration by the third-party vendor. (C) The program administrator shall utilize […]
22686. A program administrator shall not execute an assessment contract, and no work shall commence under a home improvement contract that is financed by that assessment contract nor shall that home improvement contract be executed unless the program administrator makes a reasonable good faith determination that the property owner has a reasonable ability to pay […]
22687. (a) A program administrator shall determine before executing an assessment contract, and no work shall commence under a home improvement contract that is financed by that assessment contract nor shall that home improvement contract be executed until this determination is made, that the property owner has a reasonable ability to pay the annual payment obligations […]
22688. A program administrator shall be subject to all provisions of the California Financial Information Privacy Act (Division 1.4 (commencing with Section 4050)) that are applicable to financial institutions. (Amended by Stats. 2018, Ch. 798, Sec. 8. (SB 1087) Effective January 1, 2019.)
22689. (a) A program administrator shall not permit a PACE solicitor to do any of the following: (1) Solicit a property owner to enter into an assessment contract with a program administrator, unless the PACE solicitor and the program administrator comply with the requirements of this chapter and any rules adopted by the commissioner. (2) Engage in any […]
22690. (a) A program administrator is subject to an inspection, examination, or investigation in accordance with Section 22701. (b) If, in the course of an inspection, examination, or investigation of a program administrator, the commissioner has cause to believe that the program administrator, the PACE solicitor, or the PACE solicitor agent may have committed a violation of […]
22690.5. (a) The department shall maintain, on its Internet Web site, the identities of enrolled PACE solicitors and PACE solicitor agents. The Internet Web site shall identify the date of the most recent update, and the frequency with which the list is updated. This subdivision shall become operative on January 1, 2020. (b) The department shall maintain […]
22691. The commissioner may by any rules he or she deems necessary or appropriate in the public interest or for the protection of property owners, either unconditionally or upon specified terms and conditions or for specified periods, exempt any class of persons specified in those rules from the provisions of Sections 22680, 22681, and 22682. […]
22692. (a) The commissioner shall require a program administrator to submit the following information in the annual report filed under Section 22159: (1) Information beneficial to an evaluation of the overall impact on property owners caused by the 97 percent cap on total PACE and mortgage-related debt. (2) Information beneficial to an evaluation of the overall impact on […]
22693. (a) The commissioner may, by rule, require a program administrator to use a real-time registry or database system for tracking PACE assessments in order to carry out his or her regulatory duties and to support enforcement. That registry or database system shall enable the program administrator to trace PACE assessments and shall include, but not […]
22694. This chapter does not apply to a finance lender, mortgage loan originator, or broker licensee, unless they engage in the business of a program administrator, PACE solicitor, or PACE solicitor agent. (Amended by Stats. 2018, Ch. 798, Sec. 13. (SB 1087) Effective January 1, 2019.)
22695. (a) A violation of this chapter by any person is not subject to the criminal penalties established pursuant to Sections 22753 and 22780. (b) Notwithstanding Section 22696, this section shall become operative on the effective date of this act. (Added by Stats. 2017, Ch. 475, Sec. 71. (AB 1284) Effective October 4, 2017. Section operative October […]
22696. Except as provided in Sections 22684, 22685, 22686, 22687, 22688, and 22695, this chapter shall become operative on January 1, 2019. (Added by Stats. 2017, Ch. 475, Sec. 71. (AB 1284) Effective October 4, 2017. Note: Operative date provision applies, with specified exceptions, to Chapter 3.5, comprising Sections 22680 to 22697.)
22697. This chapter does not preclude or reduce any rights and remedies established under any other laws. (Added by Stats. 2017, Ch. 475, Sec. 71. (AB 1284) Effective October 4, 2017. Section operative January 1, 2019, pursuant to Section 22696.)
