California Financial Code

§ 23037

FIN § 23037 Effective Jan 1, 2003Div. 10 · Ch. 2

Statute text

In no case shall a licensee do any of the following:

(a)Accept or use the same check for a subsequent transaction, or permit a customer to pay off all or a portion of one deferred deposit transaction with the proceeds of another.

(b)Accept any collateral for a deferred deposit transaction.

…

Legislative history

Added by Stats. 2002, Ch. 777, Sec. 10. Effective January 1, 2003. Section operative on December 31, 2004, or sooner, pursuant to Section 23104.