republic-os/legislation/us/states/ca/20192020/sb-251.md

---
type: "Bill"
title: "Financial institutions."
description: "(1) Existing law abolishes the office of the Commissioner of Financial Institutions and the Department of Financial Institutions and transfers the powers, duties, responsibilities, and functions thereof to the Commissioner of Business Oversight and the Department of Business Oversight, respectively. Existing law also abolishes the office of the Commissioner of Corporations and the Department of Corporations and transfers the powers, duties, responsibilities, and functions thereof to the Commissioner of Business Oversight and the Department of Business Oversight, respectively."
jurisdiction: "us/states/ca"
legislature: "California Legislature"
session: "20192020"
identifier: "SB 251"
citation: "California SB 251 (20192020)"
classification: ["bill"]
subjects: ["Financial institutions."]
status: "enacted"
primary_sponsors: ["Committee on Banking and Financial Institutions"]
version_count: 5
action_count: 20
vote_count: 5
first_action: "2019-02-11"
last_action: "2019-07-30"
source: "openstates"
source_identifier: "ocd-bill/b00a9c82-7106-48a4-a501-b43b69b24f76"
source_url: "http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201920200SB251"
source_hash: "c06ca6e2520b636bb76c619beafffbbfaf56c219ea796df7047c23984f8bc848"
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 251 (20192020) — Financial institutions.

(1) Existing law abolishes the office of the Commissioner of Financial Institutions and the Department of Financial Institutions and transfers the powers, duties, responsibilities, and functions thereof to the Commissioner of Business Oversight and the Department of Business Oversight, respectively. Existing law also abolishes the office of the Commissioner of Corporations and the Department of Corporations and transfers the powers, duties, responsibilities, and functions thereof to the Commissioner of Business Oversight and the Department of Business Oversight, respectively.

## Version chain

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

1. **02/11/19 - Introduced** (filed) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201920200SB251&version=20190SB25199INT)
2. **05/28/19 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201920200SB251&version=20190SB25198AMD)
3. **07/30/19 - Chaptered** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201920200SB251&version=20190SB25196CHP)
4. **SB251** (committee substitute) — [source](http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201920200SB251)
5. **07/15/19 - Enrolled** (enrolled) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201920200SB251&version=20190SB25197ENR)

## Votes

- Do pass. To Consent Calendar. — **12–0** (pass) · lower
- SB 251 B. & F.I. Consent Calendar Second Day — **77–0** (pass) · lower
- Do pass and be ordered to the Consent Calendar — **7–0** (pass) · upper
- Special Consent SB251 B. & F.I. — **39–0** (pass) · upper
- Consent Calendar SB251 B. & F.I. — **37–0** (pass) · upper

## Sponsors

- Committee on Banking and Financial Institutions — primary (person)

## Timeline

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

- **2019-02-11** Introduced. Read first time. To Com. on RLS. for assignment. To print. `introduction, reading-1`
- **2019-02-12** From printer. May be acted upon on or after March 14.
- **2019-02-21** Referred to Com. on B. & F.I. `referral-committee`
- **2019-03-08** Set for hearing April 10.
- **2019-04-11** From committee: Do pass. Ordered to consent calendar. (Ayes 7. Noes 0. Page 712.) (April 10). `committee-passage-favorable, committee-passage`
- **2019-04-22** Read second time. Ordered to consent calendar. `reading-1, reading-2`
- **2019-04-25** Read third time. Passed. (Ayes 37. Noes 0. Page 823.) Ordered to the Assembly. `passage, reading-3, reading-1`
- **2019-04-25** In Assembly. Read first time. Held at Desk. `reading-1`
- **2019-05-16** Referred to Com. on B. & F. `referral-committee`
- **2019-05-28** From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F. `reading-1, reading-2, amendment-passage, committee-passage, referral-committee`
- **2019-06-05** June 10 hearing postponed by committee.
- **2019-06-25** From committee: Do pass. Ordered to consent calendar. (Ayes 12. Noes 0.) (June 24). `committee-passage-favorable, committee-passage`
- **2019-06-26** Read second time. Ordered to consent calendar. `reading-1, reading-2`
- **2019-07-01** Read third time. Passed. (Ayes 77. Noes 0. Page 2492.) Ordered to the Senate. `passage, reading-3, reading-1`
- **2019-07-01** In Senate. Concurrence in Assembly amendments pending.
- **2019-07-03** Ordered to special consent calendar.
- **2019-07-11** Assembly amendments concurred in. (Ayes 39. Noes 0. Page 2055.) Ordered to engrossing and enrolling. `amendment-passage, committee-passage-favorable`
- **2019-07-19** Enrolled and presented to the Governor at 2 p.m.
- **2019-07-30** Approved by the Governor. `executive-signature`
- **2019-07-30** Chaptered by Secretary of State. Chapter 143, Statutes of 2019.

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/b00a9c82-7106-48a4-a501-b43b69b24f76`. Confidence: reported (aggregated from official California legislature records).