Bill Text: CA AB276 | 2009-2010 | Regular Session | Amended
Bill Title: Professional fiduciaries: licensing.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2010-02-02 - From committee: Filed with the Chief Clerk pursuant to Joint Rule 56. [AB276 Detail]
Download: California-2009-AB276-Amended.html
BILL NUMBER: AB 276 AMENDED
BILL TEXT
AMENDED IN ASSEMBLY APRIL 13, 2009
INTRODUCED BY Assembly Member Hayashi
FEBRUARY 12, 2009
An act to amend Section 6530 of the Business and Professions Code,
relating to professional fiduciaries.
LEGISLATIVE COUNSEL'S DIGEST
AB 276, as amended, Hayashi. Professional fiduciaries: licensing.
Existing law requires a professional fiduciary , as defined,
to be licensed by the Professional Fiduciaries Bureau within
the Department of Consumer Affairs and prohibits a person from
acting or holding himself or herself out as a professional fiduciary
unless licensed . Existing law exempts from this requirement
specified persons, including a certified public accountant
acting within the scope of practice and a person enrolled as an
agent to practice before the Internal Revenue Service acting within
the scope of practice as specified in federal
regulations.
This bill would specify circumstances under which
certified public accountants and enrolled agents are exempt from, and
subject to, the licensing requirement categorically
exempt a licensed certified public accountant and an enrolled agent
licensed by the United States Department of the Treasury from that
requirement .
Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.
THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:
SECTION 1. Section 6530 of the Business and Professions Code is
amended to read:
6530. (a) On and after January 1, 2009, no person shall act or
hold himself or herself out to the public as a professional fiduciary
unless that person is licensed as a professional fiduciary in
accordance with the provisions of this chapter.
(b) This section does not apply to a person licensed as an
attorney under the State Bar Act (Chapter 4 (commencing with Section
6000)).
(c) This section does not apply to a person licensed as ,
and acting within the scope of practice of, a certified
public accountant pursuant to Chapter 1 (commencing with Section
5000) of Division 3, and who also provides ancillary
fiduciary services to clients, except to the extent that the person
is holding himself or herself out as a professional fiduciary.
(d) This section
does not apply to a person enrolled as, and acting within the scope
of practice of, an agent to practice before the Internal Revenue
Service, within the meaning of subsection (c) of Section 10.3 of Part
10 of Title 31 of the Code of Federal Regulations, and who also
provides ancillary fiduciary services to clients, except to the
extent that the person is holding himself or herself out as a
professional fiduciary. 3.
(d) This section does not apply to a person licensed as an
enrolled agent by the United States Department of the Treasury.
