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2025 California Code
Financial Code - FIN
DIVISION 3 - CHECK SELLERS, BILL PAYERS, AND PRORATERS
CHAPTER 4 - Licensee Regulations
Section 12320.
Universal Citation:
CA Fin Code § 12320 (2025)
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12320. A prorater shall deliver a copy of any contract or agreement between the prorater and a debtor to the debtor immediately after the debtor executes it, and the debtor’s copy shall be executed by the prorater. A contract shall not be effective until a debtor has made a payment to the prorater for distribution to his creditors.
(Added by Stats. 1957, Ch. 498.)
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