California Financial Code

§ 1411

FIN § 1411 Effective Jan 1, 2012Div. 1.1 · Ch. 12 · Art. 1

Statute text

(a)For the purposes of this section:

(1)“Customer” means one or more natural persons.

(2)“Debt” means an interest-bearing obligation or an obligation which by its terms is payable in installments, which has not been reduced to judgment, arising from an extension of credit to a natural person primarily for personal, family, or household purposes, and does not mean a charge for bank services or a debit for uncollected funds or for an overdraft of an account imposed by a bank on a deposit account.

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Legislative history

Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.