There is a newer version
of
this Section
2019 California Code
Financial Code - FIN
DIVISION 7 - INDUSTRIAL LOAN COMPANIES
CHAPTER 3 - Loans and Purchased Obligations
ARTICLE 2 - Terms and Maximum Charges
Section 18212.2.
Universal Citation: CA Fin Code § 18212.2 (2019)
18212.2.
In addition to the charges authorized by Section 18212 or 18212.1 an industrial loan company may contract for and receive an administrative fee, which shall be fully earned immediately upon making the loan, with respect to a loan of a principal amount of not more than two thousand five hundred dollars ($2,500) at a rate not in excess of 5 percent of the principal amount or fifty dollars ($50), whichever is lesser. No administrative fee may be contracted for or received in connection with refinancing a loan unless at least one year has elapsed since receipt of a previous administrative fee paid by the borrower.
(Amended by Stats. 1984, Ch. 890, Sec. 4.)
Disclaimer: These codes may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
