republic-os/legislation/us/states/ca/20192020/ab-376.md

---
type: "Bill"
title: "Student loan servicing."
description: "Existing law, the Student Loan Servicing Act, prohibits a person from engaging in the business of servicing a student loan in California without first obtaining a license. Existing law commits the administration of these provisions to the Commissioner of Business Oversight and grants the commissioner various powers in this regard, including the authority to conduct investigations of applicants and licensees. The act requires an applicant for a license to submit audited financial statements prepared in accordance with generally accepted accounting principles and acceptable to the commissioner that indicate a net worth of at least $250,000 and requires a licensee to maintain a minimum net worth of $250,000."
jurisdiction: "us/states/ca"
legislature: "California Legislature"
session: "20192020"
identifier: "AB 376"
citation: "California AB 376 (20192020)"
classification: ["bill"]
subjects: ["Student loan servicing."]
status: "enacted"
primary_sponsors: ["Mark Stone"]
version_count: 9
action_count: 28
vote_count: 9
first_action: "2019-02-05"
last_action: "2020-09-25"
source: "openstates"
source_identifier: "ocd-bill/13660517-bac5-47c1-bb9c-77bbfa8a83d5"
source_url: "http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201920200AB376"
source_hash: "a3c2ebe62baf5d915d99a82dae0bda89ffe0654ed4ad34e7c8200d002880785d"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ca"]
---

# California AB 376 (20192020) — Student loan servicing.

Existing law, the Student Loan Servicing Act, prohibits a person from engaging in the business of servicing a student loan in California without first obtaining a license. Existing law commits the administration of these provisions to the Commissioner of Business Oversight and grants the commissioner various powers in this regard, including the authority to conduct investigations of applicants and licensees. The act requires an applicant for a license to submit audited financial statements prepared in accordance with generally accepted accounting principles and acceptable to the commissioner that indicate a net worth of at least $250,000 and requires a licensee to maintain a minimum net worth of $250,000.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **02/05/19 - Introduced** (filed) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201920200AB376&version=20190AB37699INT)
2. **03/25/19 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201920200AB376&version=20190AB37698AMD)
3. **05/16/19 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201920200AB376&version=20190AB37697AMD)
4. **06/20/19 - Amended Senate** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201920200AB376&version=20190AB37696AMD)
5. **08/06/20 - Amended Senate** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201920200AB376&version=20190AB37695AMD)
6. **08/20/20 - Amended Senate** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201920200AB376&version=20190AB37694AMD)
7. **09/25/20 - Chaptered** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201920200AB376&version=20190AB37692CHP)
8. **AB376** (committee substitute) — [source](http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201920200AB376)
9. **09/01/20 - Enrolled** (enrolled) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201920200AB376&version=20190AB37693ENR)

## Votes

- Do pass as amended — **5–2** (pass) · upper
- Placed on suspense file — **7–0** (pass) · upper
- Do pass as amended. — **13–4** (pass) · lower
- 3rd Reading AB376 Mark Stone et al. By Mitchell — **29–9** (pass) · upper
- Do pass, but first be re-referred to the Committee on [Appropriations] — **7–1** (pass) · upper
- Do pass as amended, but first amend, and re-refer to the Committee on [Judiciary] — **4–1** (pass) · upper
- Do pass and be re-referred to the Committee on [Appropriations] — **9–0** (pass) · lower
- AB 376 Mark Stone Assembly Third Reading — **59–15** (pass) · lower
- AB 376 Mark Stone Concurrence in Senate Amendments — **57–15** (pass) · lower

## Sponsors

- Mark Stone — primary (person)
- Bauer-Kahan — coauthor (person)
- Carrillo — coauthor (person)
- Cervantes — coauthor (person)
- Hertzberg — coauthor (person)
- Limón — principal coauthor (person)
- Mitchell — coauthor (person)
- Petrie-Norris — coauthor (person)
- Robert Rivas — coauthor (person)
- Wicks — coauthor (person)
- Wieckowski — coauthor (person)
- Wiener — coauthor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2019-02-05** Read first time. To print. `reading-1`
- **2019-02-06** From printer. May be heard in committee March 8.
- **2019-03-25** Referred to Com. on B. & F. `referral-committee`
- **2019-03-25** From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended. `reading-1, reading-2, amendment-passage, amendment-introduction`
- **2019-03-26** Re-referred to Com. on B. & F. `referral-committee`
- **2019-04-23** From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (April 22). Re-referred to Com. on APPR. `committee-passage-favorable, committee-passage, referral-committee`
- **2019-05-01** In committee: Set, first hearing. Referred to APPR. suspense file. `referral-committee`
- **2019-05-16** From committee: Amend, and do pass as amended. (Ayes 13. Noes 4.) (May 16). `amendment-passage, committee-passage, amendment-introduction`
- **2019-05-16** Read second time and amended. Ordered returned to second reading. `amendment-passage, reading-1, reading-2`
- **2019-05-20** Read second time. Ordered to third reading. `reading-1, reading-2`
- **2019-05-28** Read third time. Passed. Ordered to the Senate. (Ayes 59. Noes 15. Page 2032.) `passage, reading-3, reading-1`
- **2019-05-29** In Senate. Read first time. To Com. on RLS. for assignment. `reading-1`
- **2019-06-06** Referred to Coms. on B. & F.I. and JUD. `referral-committee`
- **2019-06-19** From committee: Amend, and do pass as amended and re-refer to Com. on JUD. (Ayes 4. Noes 1.) (June 19). `amendment-passage, committee-passage, amendment-introduction`
- **2019-06-20** Read second time and amended. Re-referred to Com. on JUD. `reading-1, reading-2, amendment-passage, referral-committee`
- **2019-07-10** From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 1.) (July 9). Re-referred to Com. on APPR. `committee-passage-favorable, committee-passage, referral-committee`
- **2019-08-12** In committee: Referred to APPR. suspense file. `referral-committee`
- **2019-08-30** In committee: Held under submission.
- **2020-08-06** From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on APPR. `reading-1, reading-2, amendment-passage, referral-committee, amendment-introduction`
- **2020-08-20** From committee: Amend, and do pass as amended. (Ayes 5. Noes 2.) (August 20). `amendment-passage, committee-passage, amendment-introduction`
- **2020-08-20** Read second time and amended. Ordered returned to second reading. `amendment-passage, reading-1, reading-2`
- **2020-08-24** Read second time. Ordered to third reading. `reading-1, reading-2`
- **2020-08-28** Read third time. Passed. Ordered to the Assembly. (Ayes 29. Noes 9. Page 4404.). `passage, reading-3, reading-1`
- **2020-08-28** In Assembly. Concurrence in Senate amendments pending.
- **2020-08-30** Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 57. Noes 15. Page 5351.). `amendment-passage, committee-passage-favorable`
- **2020-09-08** Enrolled and presented to the Governor at 4:30 p.m.
- **2020-09-25** Approved by the Governor. `executive-signature`
- **2020-09-25** Chaptered by Secretary of State - Chapter 154, Statutes of 2020.

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/13660517-bac5-47c1-bb9c-77bbfa8a83d5`. Confidence: reported (aggregated from official California legislature records).