California Business and Professions Code

§ 7507.10

BPC § 7507.10 Effective Jan 1, 2025Div. 3 · Ch. 11 · Art. 8

Statute text

(a)A licensee shall serve a debtor with a notice of seizure as soon as possible after the recovery of collateral and not later than 48 hours, except that if the 48-hour period encompasses a Saturday, Sunday, or postal holiday, the notice of seizure shall be provided not later than 72 hours or, if the 48-hour period encompasses a Saturday or Sunday and a postal holiday, the notice of seizure shall be provided not later than 96 hours, after the repossession of collateral. The notice shall include all of the following:

(1)The name, address, and telephone number of the legal owner to be contacted regarding the repossession.

(2)The name, address, and telephone number of the repossession agency to be contacted regarding the repossession.

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Legislative history

Amended by Stats. 2024, Ch. 484, Sec. 5. (SB 1454) Effective January 1, 2025.