California Business and Professions Code

§ 10242

BPC § 10242Div. 4 · Part 1 · Ch. 3 · Art. 7

Statute text

The maximum amount of expenses, charges and interest to be paid by a borrower with respect to any loan subject to this article shall be as follows:

(a)The maximum amount of all costs and expenses referred to in subdivision (a) of Section 10241, exclusive of actual title charges and recording fees, shall not exceed 5 percent of the principal amount of the loan or three hundred ninety dollars ($390), whichever is greater but in no event to exceed seven hundred dollars ($700), provided that in no event shall said maximum amount exceed actual costs and expenses paid, incurred or reasonably earned.

(b)The maximum amount of the charges referred to in subdivision (b) of Section 10241 shall not exceed the following amounts:

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Legislative history

Amended by Stats. 1990, Ch. 834, Sec. 1.