California Financial Code

§ 22050

FIN § 22050 Effective Jan 1, 2014Div. 9 · Ch. 1 · Art. 2

Statute text

(a)This division does not apply to any person doing business under any law of any state or of the United States relating to banks, trust companies, savings and loan associations, insurance premium finance agencies, credit unions, small business investment companies, community advantage lenders, California business and industrial development corporations when acting under federal law or other state authority, or licensed pawnbrokers when acting under the authority of that license. “Community advantage lender” means an entity authorized by the United States Small Business Administration to deliver community advantage loans.

(b)This division does not apply to a check casher who holds a valid permit issued pursuant to Section 1789.37 of the Civil Code when acting under the authority of that permit, and shall not apply to a person holding a valid license issued pursuant to Section 23005 of the Financial Code when acting under the authority of that license.

(c)This division does not apply to a college or university making a loan for the purpose of permitting a person to pursue a program or course of study leading to a degree or certificate.

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Legislative history

Amended by Stats. 2013, Ch. 243, Sec. 1. (AB 1091) Effective January 1, 2014.