California Financial Code

§ 21200

FIN § 21200 Effective Jan 1, 2016Div. 8 · Ch. 2

(a)Except as otherwise provided in this chapter, no pawnbroker shall charge or receive compensation at a rate exceeding the sum of the following:

(1)Three percent per month on the unpaid principal balance of any loan.

(2)A charge not exceeding three dollars ($3) a month on any loan when the monthly charge permitted by paragraph (1) would otherwise be less.

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Legislative history

Amended by Stats. 2015, Ch. 245, Sec. 1. (SB 285) Effective January 1, 2016.