California Financial Code

§ 15103

FIN § 15103 Effective Sep 7, 2007Div. 5 · Ch. 7 · Art. 4

Statute text

A credit union, or the agent of a credit union, that has received a notice pursuant to Section 7507.6 of the Business and Professions Code, shall not make a subsequent assignment to skip trace, locate, or repossess a vehicle without simultaneously, and in the same manner by which the assignment is given, advising the assignee of the assignment of the information contained in the notice. As used in this section, “assignment” has the same meaning set forth in Section 7500.1 of the Business and Professions Code.

Legislative history

Added by Stats. 2007, Ch. 192, Sec. 7. Effective September 7, 2007.