California § 1802.20. 1802.20. (Added by Stats. 1979, Ch. 805.)

California Statutes

§ 1802.20. — 1802.20. (Added by Stats. 1979, Ch. 805.)

California § 1802.20.

JurisdictionCalifornia

Code CIVCivil Code - CIV

Div. 3.DIVISION 3. OBLIGATIONS

Title2.

Part 4.TITLE 2. CREDIT SALES

Ch. 1.CHAPTER 1. Retail Installment Sales

Art. 2.ARTICLE 2. Definitions

This text of California § 1802.20. (1802.20. (Added by Stats. 1979, Ch. 805.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Civil Code - CIV Code § 1802.20. (2026).

Text

“Simple-interest basis” means the determination of a finance charge, other than an administrative finance charge, by applying a constant rate to the unpaid balance as it changes from time to time, either:

(a)Calculated on the basis of a 365-day year and actual days elapsed (although the seller may, but need not, adjust its calculations to account for leap years); reference in this chapter to the “365-day basis” shall mean this method of determining the finance charge, or

(b)For contracts entered into prior to January 1, 1988, calculated on the basis of a 360-day year consisting of 12 months of 30 days each and on the assumption that all payments will be received by the seller on their respective due dates; reference in this chapter to the “360-day basis” shall mean this method of deter

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“Simple-interest basis” means the determination of a finance charge, other than an administrative finance charge, by applying a constant rate to the unpaid balance as it changes from time to time, either:
(a)
Calculated on the basis of a 365-day year and actual days elapsed (although the seller may, but need not, adjust its calculations to account for leap years); reference in this chapter to the “365-day basis” shall mean this method of determining the finance charge, or
(b)
For contracts entered into prior to January 1, 1988, calculated
on the basis of a 360-day year consisting of 12 months of 30 days each and on the assumption that all payments will be received by the seller on their respective due dates; reference in this chapter to the “360-day basis” shall mean this method of determining the finance charge.