AB 2795: Financial regulation.

<p>The bill amends several sections of existing financial regulations in California:</p> <p>1. It updates requirements for franchise sales by removing specific references to item 2 of a franchise disclosure document and mandates that franchise brokers be registered unless exempted.</p> <p>2. The bill repeals the State Assistance Fund for Enterprise Act of 1989, which authorized financial assistance for small businesses through a nonprofit corporation.</p> <p>3. It modifies eligibility criteria for securities investment by state funds, requiring higher ratings (from "A" to "AA") and stricter maturity limits on commercial paper.</p> <p>4. The bill allows the Commissioner of Financial Protection and Innovation to provide notices electronically instead of by mail, with exceptions for certain licensees using the Nationwide Multistate Licensing System and Registry (NMLS).</p>