California Civil Code

§ 1747.94

CIV § 1747.94Div. 3 · Title 1.3 · Part 4

Statute text

(a)In addition to any other disclosures required by law, a card issuer of a secured credit card shall, in every advertisement or solicitation to prospective cardholders, expressly identify the credit instrument offered as a “secured credit card” and prominently disclose that credit extended under the secured credit card is secured, and shall describe the security by item or type.

(b)Any deed of trust executed in connection with a secured credit card shall contain a statement that it is security for a secured credit card obligation. However, failure to include the statement shall not invalidate the deed of trust.

(c)This section does not apply to either of the following:

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Legislative history

Added by Stats. 1991, Ch. 608, Sec. 2.