§ 50308. — 50308. (Added by Stats. 1994, Ch. 994, Sec. 7.)

California § 50308.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 20.: DIVISION 20. CALIFORNIA RESIDENTIAL MORTGAGE LENDING ACT
• Ch. 5.: CHAPTER 5. Administration and Powers of the Commissioner

Text

If any person engaged in the business regulated by this division refers in any advertising to rates of interest, charges, or costs of loans, the commissioner shall require that they are stated fully and clearly in the manner that he or she deems necessary to give adequate information to prospective borrowers. If the rates or costs advertised do not apply to loans of all classes made or negotiated by that person, this fact shall be clearly indicated in the
advertisement. Compliance with the requirements of the federal Truth in Lending Act and Regulation Z promulgated thereunder is presumed to satisfy the requirements of this section.

Legislative History

Added by Stats. 1994, Ch. 994, Sec. 7. Effective January 1, 1995. Section operative January 1, 1996, pursuant to Section 50601 (later repealed).