§ 22310. — 22310. (Added by Stats. 1994, Ch. 1115, Sec. 2.)

California § 22310.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 9.: DIVISION 9. CALIFORNIA FINANCING LAW
• Ch. 2.: CHAPTER 2. Consumer Loans
• Art. 3.: ARTICLE 3. Loan Regulations

Text

(a)
Except for a rebate or refund pursuant to any administrative, civil, or criminal action, or any act of the commissioner, a rebate or refund required to be made upon payment in full of a loan pursuant to this division need not be made if the aggregate of all rebates or refunds required in connection with a loan is less than one dollar ($1).
(b)
No licensee shall contract for or receive any payment required in connection with a loan for the purpose of avoiding a rebate or
refund of less than one dollar ($1).

Legislative History

Added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.