California Financial Code

§ 21201.5

FIN § 21201.5 Effective Jan 1, 2016Div. 8 · Ch. 2

Statute text

(a)During the contractual loan period and any extension thereof, but prior to the start of the 10-day grace period provided in subdivision (d) of Section 21201, a pledgor may request, and a pawnbroker may consent to, a replacement loan to take effect upon the expiration of the loan period stated in the active loan contract delivered to the pledgor under Section 21201 or this section.

(b)Alternatively, a pledgor may request, and a pawnbroker may consent to, a replacement loan during the 10-day grace period provided in subdivision (d) of Section 21201. Any such replacement loan shall become effective on the date it is issued.

(c)All of the following shall apply to a replacement loan issued pursuant to this section:

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Legislative history

Amended by Stats. 2015, Ch. 417, Sec. 3. (SB 300) Effective January 1, 2016.