2020 California Code
Financial Code - FIN
DIVISION 7 - INDUSTRIAL LOAN COMPANIES
CHAPTER 3 - Loans and Purchased Obligations
ARTICLE 1 - General
Sections 18008, 18009, 18010, 18212, 18212.1, and 18214 do not apply to:
(a) Any bona fide loan of a principal amount of five thousand dollars ($5,000) or more, or to an industrial loan company in connection with any bona fide loan of a principal amount of five thousand dollars ($5,000) or more if the provisions of the section are not used for the purpose of evading this division.
(b) An amount due from a contingent guarantor on his or her obligations purchased under the provisions of this division.
(c) A loan to a primary borrower who has pledged accounts receivable or installment accounts to secure loans which taken in the aggregate amount to five thousand dollars ($5,000) or more.
(Amended by Stats. 1984, Ch. 68, Sec. 1. Effective April 5, 1984.)