California Financial Code

§ 21401

FIN § 21401 Effective Jan 1, 2025Div. 8 · Ch. 4

Statute text

The Legislature finds and declares all of the following:

(a)Pawnbroker businesses provide a valuable source of short-term credit for economically vulnerable consumers and the state’s unbanked population, as everyone who seeks a pawn loan can borrow money regardless of creditworthiness.

(b)Individuals who use pawnbroker loans in this state use those loans for, among other things, paying for the necessities of life.

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Legislative history

Added by Stats. 2024, Ch. 223, Sec. 3. (AB 2231) Effective January 1, 2025. Repealed as of January 1, 2029, pursuant to Section 21413.