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HomeBusiness and Professions CodeDiv. 3Ch. 11Art. 4§ 7503 Repossession Agency License Application

§ 7503 Repossession Agency License Application

Business and Professions Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 7503 Repossession Agency License Application

Key Takeaways

  • •You need a license to run a repossession business, and you have to apply for it in writing with the right fee.
  • •You must give true information on your application—lying is a crime and can get you in trouble.
  • •Your personal info (like home address and phone number) stays private and won’t be shared with the public.
  • •You can’t use a fake or misleading name for your business that tricks people or sounds like a government agency.

Example

Someone wants to start a car repossession business and fills out the license application.

If they lie on the application, like saying they have an office when they don’t, they could get fined or even arrested. Also, they can’t name their business something like 'State Police Repo' because that would trick people into thinking it’s a government agency.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 7503 Repossession Agency License Application

An application for a repossession agency license shall be made in writing to, and filed with, the bureau in the form that may be required by the director and shall be accompanied by the original license fee prescribed by this chapter. The director may require the submission of any other pertinent information, evidence, statements, or documents. Every application for a repossession agency license shall be signed by the applicant and state, among other things that may be required, the name of the applicant and the name under which the applicant will do business, the location by number and street and city of the office of the business for which the license is sought, and the usual business hours the business will maintain. An applicant who declares as true any material matter pursuant to this section that he or she knows to be false is guilty of a misdemeanor. The residence address, residence telephone number, and driver’s license number of each licensee, principal owner of each licensee, and any applicant for a license, if requested, shall be confidential pursuant to the Information Practices Act of 1977 (Chapter 1 (commencing with Section 1798) of Title 1.8 of Part 4 of Division 3 of the Civil Code) and shall not be released to the public. No license shall be issued in any fictitious name which may be confused with or which is similar to any federal, state, county, or municipal governmental function or agency, or in any name which may tend to describe any business function or enterprise not actually engaged in by the applicant, or in any name which is the same as or so similar to that of any existing licensee as would tend to deceive the public, or in any name which would otherwise tend to be deceptive or misleading. The application form shall contain a statement informing the applicant that a false or dishonest answer to a question may be grounds for denial or subsequent suspension or revocation of a repossession agency license. (Amended by Stats. 2002, Ch. 402, Sec. 1. Effective January 1, 2003.)

Last verified: January 23, 2026

Key Terms

applicationinformationpossessiondriverlicensereleasedirectormisdemeanor

Related Statutes

  • § 7593 Alarm Company License Application
  • § 7505.3 Office Charge Change Notice
  • § 7506.5 Applicant Information Confidentiality
  • § 7508.7 Repossession Agency Privacy Rules
  • § 7501.4 Repossessor License Violations

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Business and Professions Code. Section 7503.
View Official Source