republic-os/legislation/us/states/ca/20112012/sb-708.md

---
type: "Bill"
title: "Funds transfers."
description: "Existing provisions of the Commercial Code governing certain funds transfers, cited as the Uniform Commercial Code—Funds Transfers, provide, among other provisions, that a funds transfer is completed by acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's payment order. Existing law excludes from the provisions of the Uniform Commercial Code—Funds Transfers those funds transfers governed by the federal Electronic Fund Transfer Act of 1978."
jurisdiction: "us/states/ca"
legislature: "California Legislature"
session: "20112012"
identifier: "SB 708"
citation: "California SB 708 (20112012)"
classification: ["bill"]
subjects: ["Funds transfers."]
status: "enacted"
primary_sponsors: ["Corbett"]
version_count: 11
action_count: 44
vote_count: 12
first_action: "2011-02-18"
last_action: "2012-09-19"
source: "openstates"
source_identifier: "ocd-bill/dcc10f46-e4ae-49d1-8a16-666b43ddea4d"
source_url: "http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201120120SB708"
source_hash: "9728e109479f2a6d3b096865eddbdd11b471814795fbee180d10198b1f47f195"
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 SB 708 (20112012) — Funds transfers.

Existing provisions of the Commercial Code governing certain funds transfers, cited as the Uniform Commercial Code—Funds Transfers, provide, among other provisions, that a funds transfer is completed by acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's payment order. Existing law excludes from the provisions of the Uniform Commercial Code—Funds Transfers those funds transfers governed by the federal Electronic Fund Transfer Act of 1978.

## Version chain

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

1. **02/18/11 - Introduced** (filed) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120SB708&version=20110SB70899INT)
2. **01/04/12 - Amended Senate** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120SB708&version=20110SB70895AMD)
3. **01/11/12 - Amended Senate** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120SB708&version=20110SB70894AMD)
4. **04/12/11 - Amended Senate** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120SB708&version=20110SB70898AMD)
5. **05/10/11 - Amended Senate** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120SB708&version=20110SB70897AMD)
6. **05/31/11 - Amended Senate** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120SB708&version=20110SB70896AMD)
7. **06/26/12 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120SB708&version=20110SB70893AMD)
8. **08/16/12 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120SB708&version=20110SB70892AMD)
9. **09/19/12 - Chaptered** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120SB708&version=20110SB70890CHP)
10. **SB708** (committee substitute) — [source](http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201120120SB708)
11. **08/30/12 - Enrolled** (enrolled) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201120120SB708&version=20110SB70891ENR)

## Votes

- Do pass as amended. — **6–3** (pass) · upper
- Unfinished Business SB708 Corbett Concurrence — **37–0** (pass) · upper
- Do pass, but re-refer to the Committee on Judiciary. — **6–0** (pass) · upper
- Do pass. — **11–0** (pass) · lower
- From committee: That the Assembly Amendments be concurred in. — **6–0** (pass) · upper
- SB 708 Corbett Senate Third Reading By GATTO — **78–0** (pass) · lower
- Do pass as amended, and re-refer to the Committee on Appropriations. — **3–2** (pass) · upper
- 3rd Reading — **32–1** (pass) · upper
- Do pass, but re-refer to the Committee on Judiciary. — **4–2** (pass) · upper
- Do pass. — **6–0** (pass) · upper
- Placed on Appropriations Suspense file. — **9–0** (pass) · upper
- Do pass as amended, and re-refer to the Committee on Appropriations. — **5–0** (pass) · upper

## Sponsors

- Corbett — primary (person)

## Timeline

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

- **2011-02-18** Introduced. Read first time. To Com. on RLS. for assignment. To print. `introduction, reading-1`
- **2011-02-20** From printer. May be acted upon on or after March 22.
- **2011-03-03** Referred to Coms. on B. & F.I. and JUD. `referral-committee`
- **2011-04-06** Set for hearing April 27.
- **2011-04-12** From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.I. `reading-2, reading-1, committee-passage, amendment-passage, referral-committee`
- **2011-04-28** From committee: Do pass and re-refer to Com. on JUD. (Ayes 4. Noes 2. Page 785.) (April 27). Re-referred to Com. on JUD. `referral-committee, committee-passage, committee-passage-favorable`
- **2011-04-29** Set for hearing May 3.
- **2011-05-09** From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 3. Noes 2. Page 861.) (May 3). `amendment-passage, committee-passage, committee-passage-favorable`
- **2011-05-10** Read second time and amended. Re-referred to Com. on APPR. `reading-2, reading-1, amendment-passage, referral-committee`
- **2011-05-13** Set for hearing May 23.
- **2011-05-23** Placed on APPR. suspense file.
- **2011-05-25** Set for hearing May 26.
- **2011-05-27** From committee: Do pass as amended. (Ayes 6. Noes 3. Page 1121.) (May 26). `amendment-passage, committee-passage, committee-passage-favorable`
- **2011-05-31** Read second time and amended. Ordered to third reading. `reading-2, reading-1, amendment-passage`
- **2011-06-01** Re-referred to Com. on RLS. `referral-committee`
- **2012-01-04** From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS. `reading-2, reading-1, committee-passage, amendment-passage, referral-committee`
- **2012-01-04** Re-referred to Coms. on B. & F.I. and JUD. `referral-committee`
- **2012-01-05** Set for hearing January 9.
- **2012-01-06** Set for hearing January 10 in JUD. pending receipt.
- **2012-01-09** From committee: Do pass and re-refer to Com. on JUD. (Ayes 6. Noes 0. Page 2600.) (January 9). Re-referred to Com. on JUD. `referral-committee, committee-passage, committee-passage-favorable`
- **2012-01-11** From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 5. Noes 0. Page 2623.) (January 10). `amendment-passage, committee-passage, committee-passage-favorable`
- **2012-01-11** Read second time and amended. Re-referred to Com. on APPR. `reading-2, reading-1, amendment-passage, referral-committee`
- **2012-01-13** Set for hearing January 17.
- **2012-01-17** From committee: Do pass. (Ayes 6. Noes 0. Page 2669.) (January 17). `committee-passage, committee-passage-favorable`
- **2012-01-18** Read second time. Ordered to third reading. `reading-2, reading-1`
- **2012-01-23** Read third time. Passed. (Ayes 32. Noes 1. Page 2698.) Ordered to the Assembly. `reading-3, reading-1, passage`
- **2012-01-23** In Assembly. Read first time. Held at Desk. `reading-1`
- **2012-06-15** Referred to Coms. on B. & F. and JUD. `referral-committee`
- **2012-06-25** Hearing postponed by committee.
- **2012-06-26** From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F. `reading-2, reading-1, committee-passage, amendment-passage, referral-committee`
- **2012-07-03** From committee: Do pass. (Ayes 11. Noes 0.) (July 2). `committee-passage, committee-passage-favorable`
- **2012-07-05** Read second time. Ordered to third reading. `reading-2, reading-1`
- **2012-08-16** Read third time and amended. (Page 5942.) `reading-3, reading-1, amendment-passage`
- **2012-08-16** Ordered to third reading.
- **2012-08-20** Read third time. Passed. (Ayes 78. Noes 0. Page 6012.) Ordered to the Senate. `reading-3, reading-1, passage`
- **2012-08-21** In Senate. Concurrence in Assembly amendments pending.
- **2012-08-22** Re-referred to Com. on RLS. pursuant to Senate Rule 29.10. `referral-committee`
- **2012-08-22** From committee: Be re-referred to Com. on B. & F.I. pursuant to Senate Rule 29.10. (Ayes 5. Noes 0. Page 4687.) Re-referred to Com. on B. & F.I. `referral-committee, committee-passage`
- **2012-08-23** Set for hearing August 23.
- **2012-08-23** From committee: That the Assembly amendments be concurred in. (Ayes 6. Noes 0. Page 4791.) `committee-passage`
- **2012-08-27** Assembly amendments concurred in. (Ayes 37. Noes 0. Page 4846.) Ordered to engrossing and enrolling. `committee-passage-favorable, amendment-passage`
- **2012-08-31** Enrolled and presented to the Governor at 7:30 p.m.
- **2012-09-19** Approved by the Governor. `executive-signature`
- **2012-09-19** Chaptered by Secretary of State. Chapter 392, Statutes of 2012.

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/dcc10f46-e4ae-49d1-8a16-666b43ddea4d`. Confidence: reported (aggregated from official California legislature records).