California Financial Code

§ 22334

FIN § 22334 Effective Jan 1, 2020Div. 9 · Ch. 2 · Art. 3

Statute text

(a)Except as provided in subdivision (b), a licensee shall not enter into any contract for a loan that provides for a scheduled repayment of principal over more than the maximum terms set forth below opposite the respective size of loans. Principal amount of loan Maximum term Less than $500 24 months and 15 days $500 but less than $1,500 36 months and 15 days $1,500 but less than $3,000 48 months and 15 days $3,000 but less than $10,000 60 months and 15 days

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Legislative history

Amended by Stats. 2019, Ch. 708, Sec. 8. (AB 539) Effective January 1, 2020.