California Financial Code

§ 22750

FIN § 22750 Effective Jan 1, 2014Div. 9 · Ch. 4 · Art. 2

Statute text

(a)If any amount other than, or in excess of, the charges permitted by this division is willfully charged, contracted for, or received, the contract of loan is void, and no person has any right to collect or receive any principal, charges, or recompense in connection with the transaction.

(b)If any provision of this division is willfully violated in the making or collection of a loan, whether by a licensee or by an unlicensed person subject to this division, the contract of loan is void, and no person has any right to collect or receive any principal, charges, or recompense in connection with the transaction.

Legislative history

Amended by Stats. 2013, Ch. 467, Sec. 3. (SB 318) Effective January 1, 2014.