CA AB 2148

Title: Professional fiduciaries.
Author: Evan Low

AB 2148, as amended, Low. Professional fiduciaries. Existing law, the Professional Fiduciaries Act, establishes, until January 1, 2028, the Professional Fiduciaries Bureau, within the Department of Consumer Affairs under the supervision and control of the Director of Consumer affairs, and requires the bureau to license and regulate professional fiduciaries. The act defines various terms for these purposes. Existing law makes a violation of specified law, including provisions of the act, an infraction, as specified.Existing law, the Moscone-Knox Professional Corporation Act, defines and regulates professional corporations. The act provides that a professional organization renders professional services that may be lawfully rendered only pursuant to a license, certification, or registration authorized by, among others, the Business and Professions Code pursuant to a certificate of registration issued by the governmental agency regulating the profession, as specified.This bill would, beginning July 1, 2025, require the bureau to issue a certificate of registration to a professional corporation if the professional corporation files certain items with the bureau under penalty of perjury, and would require a professional corporation that has a certificate of registration to annually file those items with the bureau under penalty of perjury. The bill would prohibit a professional corporation from rendering professional services requiring a license under the Professional Fiduciaries Act or acting or holding itself out to the public as an entity acting as a professional fiduciary unless the professional corporation is a registrant under the bill’s provisions. The bill would prescribe imposition of fees, as specified. The bill would define various terms for these purposes. The bill would make a violation of these provisions an infraction. By expanding the scope of a crime, this bill would impose a state-mandated local program.Existing law prohibits a superior court from appointing a person to carry out the duties of a professional fiduciary, as defined, unless that person holds a valid, unexpired, and unsuspended license as a professional fiduciary or is exempt from those licensing requirements, as specified.This bill would delete that prohibition and would instead prohibit a superior court from appointing a professional fiduciary, as defined, as a guardian, conservator, or other officer, or permit a professional fiduciary to continue in any of those offices, unless they hold a current, unsuspended license or certificate of registration, as specified. The bill would include in the definition of “professional fiduciary” a professional corporation that receives a certificate of registration pursuant to the provisions described above. The bill would also make technical and conforming changes.The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement.This bill would provide that no reimbursement is required by this act for a specified reason.

In Senate. Read first time. To Com. on RLS. for assignment.

Bill Documents
CA AB 2148 - 04/03/24 - Amended Assembly
04/03/24 - CA AB 2148 (04/03/24 - Amended Assembly)

CA AB 2148 - 03/18/24 - Amended Assembly
03/18/24 - CA AB 2148 (03/18/24 - Amended Assembly)

CA AB 2148 - 02/06/24 - Introduced
02/06/24 - CA AB 2148 (02/06/24 - Introduced)

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Author Details

  • Evan Low - D
    Assemblymember - State Assembly - CA

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    Capital Address:
    P.O. Box 942849, 1021 O Street, Suite 6110
    Sacramento, CA 94249

    District Address:
    20111 Stevens Creek Blvd Ste 220
    Cupertino, CA 95014 2345
    Phone: 4084462810
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