California Civil Code

§ 1810.1

CIV § 1810.1Div. 3 · Title 2 · Part 4 · Ch. 1 · Art. 10

Statute text

Notwithstanding any other provisions of this article to the contrary, before the first transaction is made on any retail installment account, the seller shall disclose to the buyer in a single written statement, which the buyer may retain, in terminology consistent with the requirements of Section 1810.3, each of the following items, to the extent applicable:

(a)The conditions under which a finance charge may be imposed, including an explanation of the time period, if any, within which any credit extended may be paid without incurring a finance charge.

(b)The method of determining the balance upon which a finance charge may be imposed.

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Legislative history

Amended by Stats. 1970, Ch. 546, Sec. 29.5.