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California Code, Financial Code - FIN § 22802

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) A provider subject to this division shall disclose all of the information in subdivision (b) or in Section 22803, if applicable, to a recipient at the time of extending a specific commercial financing offer to that recipient, and shall obtain the recipient's signature on the disclosure before consummating the commercial financing transaction.

(b) Except as provided in Section 22803, a provider subject to this division shall disclose all of the following:

(1) The total amount of funds provided.

(2) The total dollar cost of the financing.

(3) The term or estimated term.

(4) The method, frequency, and amount of payments.

(5) A description of prepayment policies.

(6) The total cost of the financing expressed as an annualized rate.

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Cite this article: FindLaw.com - California Code, Financial Code - FIN § 22802 - last updated January 01, 2025 | https://codes.findlaw.com/ca/financial-code/fin-sect-22802/

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