§ 12318. — 12318. (Added by Stats. 1957, Ch. 498.)

California § 12318.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 3.: DIVISION 3. CHECK SELLERS, BILL PAYERS, AND PRORATERS
• Ch. 4.: CHAPTER 4. Licensee Regulations

Text

A prorater shall not take:
(a)
Any contract, promise to pay, or other instrument which has any blank spaces when signed by a debtor;
(b)
Any negotiable instrument for the prorater’s charges;
(c)
Any note, wage assignment, real estate or chattel mortgage, or other security to secure the prorater’s charges;
(d)
Any confession of judgment or power of attorney to confess judgment against the debtor or to appear for the
debtor in a judicial proceeding.
(e)
Concurrent with the signing of the contract or as part of the contract or as part of the application for the contract a release of any obligation to be performed on the part of the prorater.

Legislative History

Added by Stats. 1957, Ch. 498.