§ 50501. — 50501. (Added by Stats. 1994, Ch. 994, Sec. 7.)

California § 50501.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 20.: DIVISION 20. CALIFORNIA RESIDENTIAL MORTGAGE LENDING ACT
• Ch. 7.: CHAPTER 7. Prohibited Practices and Penalties

Text

(a)
Any person who violates a provision of this division, or any rule or order under this division, shall be liable for a civil penalty not to exceed two thousand five hundred dollars ($2,500) for each violation. This penalty shall be assessed and recovered in a civil action brought in the name of the people of the State of California by the commissioner in any court of competent jurisdiction.
(b)
As applied to the penalties for acts in violation of this division, the remedies provided by this section and by other sections of this division are not exclusive, and may be sought and employed in any combination to enforce the provisions of this division.

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 Section operative January 1, 1996, pursuant to Section 50601 (later repealed).