Existing law requires that all funds received by any person acting as a licensed insurance producer, an administrator, a surplus line broker, or a bail licensee, as premium or return premium on or under any policy of insurance or undertaking of bail, are received and held by that person in his or her fiduciary capacity. Existing law requires a person who holds one of the above-described licenses who receives fiduciary funds to maintain those funds, as provided, including, but not limited to, maintaining those funds on California business, at all times in a trustee bank account or depository in California, separate from any other account or depository, in specified amounts.
California AB 1460 (20172018) — Licensees: fiduciary funds.
Existing law requires that all funds received by any person acting as a licensed insurance producer, an administrator, a surplus line broker, or a bail licensee, as premium or return premium on or under any policy of insurance or undertaking of bail, are received and held by that person in his or her fiduciary capacity. Existing law requires a person who holds one of the above-described licenses who receives fiduciary funds to maintain those funds, as provided, including, but not limited to, maintaining those funds on California business, at all times in a trustee bank account or depository in California, separate from any other account or depository, in specified amounts.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
Do pass as amended, but first amend, and re-refer to the Committee on [Rules] — 11–0 (pass) · upper
AB 1460 DABABNEH Concurrence in Senate Amendments — 74–0 (pass) · lower
Special Consent Calendar # AB1460 — 39–0 (pass) · upper
Sponsors
Dababneh — primary (person)
Timeline
The legislative action history — every referral, reading, and vote.
2017-02-17 Read first time. To print. reading-1
2017-02-19 From printer. May be heard in committee March 21.
2017-03-13 Referred to Com. on B. & F. referral-committee
2017-03-23 In committee: Set, first hearing. Hearing canceled at the request of author.
2017-04-24 From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended. amendment-introduction, amendment-passage, reading-2, reading-1
2017-04-25 Re-referred to Com. on B. & F. referral-committee
2017-05-02 From committee: Do pass. To Consent Calendar. (Ayes 10. Noes 0.) (May 1). committee-passage-favorable, committee-passage
2017-05-03 Read second time. Ordered to Consent Calendar. reading-2, reading-1
2017-05-08 Read third time. Passed. Ordered to the Senate. (Ayes 77. Noes 0. Page 1427.) reading-3, passage, reading-1
2017-05-08 In Senate. Read first time. To Com. on RLS. for assignment. reading-1
2017-05-17 Referred to Coms. on B. & F.I. and RLS. referral-committee
2017-05-30 From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on I., B. & F.I. amendment-passage, referral-committee, reading-2, reading-1, amendment-introduction
2017-06-08 From committee: Amend, and do pass as amended and re-refer to Com. on RLS. (Ayes 11. Noes 0.) (June 7). amendment-passage, committee-passage, amendment-introduction
2017-06-12 Read second time and amended. Re-referred to Com. on RLS. amendment-passage, reading-2, referral-committee, reading-1
2017-06-13 Withdrawn from committee.
2017-06-13 Ordered to second reading.
2017-06-14 Read second time. Ordered to third reading. reading-2, reading-1
2017-06-20 Ordered to special consent calendar.
2017-06-26 Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 1712.). reading-3, passage, reading-1
2017-06-27 In Assembly. Concurrence in Senate amendments pending. May be considered on or after June 29 pursuant to Assembly Rule 77.
2017-06-29 Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 74. Noes 0. Page 2400.). committee-passage-favorable, amendment-passage
2017-07-05 Enrolled and presented to the Governor at 2:30 p.m.
2017-07-18 Approved by the Governor. executive-signature
2017-07-18 Chaptered by Secretary of State - Chapter 69, Statutes of 2017.
Source
OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/f8363123-f0b7-454a-9f85-521a9c9742cc. Confidence: reported (aggregated from official California legislature records).