California Financial Code

§ 22800

FIN § 22800 Effective Jan 1, 2023Div. 9.5

Statute text

For purposes of this division:

(a)“Account” means a right to a payment of a monetary obligation.

(b)“Accounts receivable purchase transaction” means a transaction as part of an agreement requiring a recipient to forward or otherwise sell to the provider all or a portion of accounts, payment intangibles, or cash receipts that are owed to the recipient or are collected by the recipient during a specified period or in a specified amount.

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Legislative history

Amended by Stats. 2022, Ch. 452, Sec. 142. (SB 1498) Effective January 1, 2023.