California Civil Code

§ 1810.12

CIV § 1810.12 Effective Jan 1, 1997Div. 3 · Title 2 · Part 4 · Ch. 1 · Art. 10

Statute text

(a)Notwithstanding Section 1810.4, a seller or holder of a retail installment account may, subject to subdivision (d) of Section 1810.3, provide that for each installment in default the buyer shall pay a delinquency charge not in excess of one of the following amounts:

(1)For a period in default of not less than 10 days, an amount not in excess of ten dollars ($10).

(2)For a period in default of not less than 15 days, an amount not in excess of fifteen dollars ($15).

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Legislative history

Amended by Stats. 1996, Ch. 301, Sec. 2. Effective January 1, 1997.