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2020 California Code
Financial Code - FIN
DIVISION 8 - PAWNBROKERS
CHAPTER 2 - Pawnbroker Regulations
Section 21200.
Universal Citation: CA Fin Code § 21200 (2020)
21200.
(a) Except as otherwise provided in this chapter, no pawnbroker shall charge or receive compensation at a rate exceeding the sum of the following:
(1) Three percent per month on the unpaid principal balance of any loan.
(2) A charge not exceeding three dollars ($3) a month on any loan when the monthly charge permitted by paragraph (1) would otherwise be less.
(b) One month’s interest may be charged for any part of the month in which pawned property is redeemed.
(Amended by Stats. 2015, Ch. 245, Sec. 1. (SB 285) Effective January 1, 2016.)
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