reglab/statecodes huggingface dataset:
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 3.6 - Pilot Program for Increased Access to Responsible Small Dollar Loans › Section 22373.

22373. (a) At the time the finder receives or processes an application for a program loan, the finder shall provide the following statement to the applicant, on behalf of the licensee, in no smaller than 10-point type, and shall ask the applicant to acknowledge receipt of the statement in writing:
“Your loan application has been referred to us by [Name of Finder]. We may pay a fee to [Name of Finder] for the successful referral of your loan application. IF YOU ARE APPROVED FOR THE LOAN, [NAME OF LICENSEE] WILL BECOME YOUR LENDER, AND YOU WILL BE BUILDING A RELATIONSHIP WITH [NAME OF LICENSEE]. If you have any questions about your loan, now or in the future, you should direct those questions to [name of licensee] by [insert at least two different ways in which a borrower may contact the licensee]. If you wish to report a complaint about [Name of Finder] or [Name of Licensee] regarding this loan transaction, you may contact the Department of Financial Protection and Innovation at 866-275-2677, or file your complaint online at www.dfpi.ca.gov.”
(b) If the loan applicant has questions about the loan that the finder is not permitted to answer, the finder shall make a good faith effort to assist the applicant in making direct contact with the lender before the loan is consummated. This good faith effort shall, at a minimum, consist of assisting the applicant in communicating with the licensee as soon as reasonably practicable, which shall at a minimum include a “two-way communication.” For purposes of this section, “two-way communication” includes telephone, electronic mail, or another form of communication that allows the applicant to communicate with the licensee.
(c) Using the policies developed pursuant to subdivision (f) of Section 22370, the licensee shall ensure that a loan is not consummated until the licensee has completed a “two-way communication” with the applicant. Sending a voicemail or electronic message to the applicant, without a prior or subsequent response from the applicant, shall not constitute a “two-way communication.”
(d) If the loan is consummated, the licensee shall provide the borrower a written copy of the disclosure notice within two weeks following the date of the loan consummation. A licensee may include the disclosure within its loan contract, or may provide it as a separate document to the borrower, via any means acceptable to the borrower.
(Amended by Stats. 2022, Ch. 452, Sec. 138. (SB 1498) Effective January 1, 2023. Repealed as of January 1, 2028, pursuant to Section 22381.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 3.6 - Pilot Program for Increased Access to Responsible Small Dollar Loans › Section 22374.

22374. (a) A finder may be compensated by the licensee pursuant to the written agreement between the licensee and the finder, as described in Section 22376. Compensation may be paid in accordance with a compensation schedule that is mutually agreed to by the licensee and the finder.
(b) Notwithstanding subdivision (a), the compensation of a finder by a licensee shall be subject to all of the following requirements:
(1) No compensation shall be paid to a finder in connection with a loan application unless that loan is consummated.
(2) No compensation shall be paid to a finder based upon the principal amount of the loan.
(3) The total compensation paid by a licensee to a finder over the life of a loan shall not exceed the sum of the origination fee and interest charges paid by the borrower in connection with that loan.
(4) Subject to the limitations set forth in paragraphs (1) to (3), inclusive, the total compensation paid by a licensee to a finder for the services set forth in subdivision (a) of Section 22372 shall not exceed sixty-five dollars ($65) per loan, whether paid at the time of consummation, over installments, or in a manner otherwise agreed upon by the licensee and the finder, plus two dollars ($2) per payment received by the finder on behalf of the licensee for the duration of the loan, when the finder receives borrower loan payments on the licensee’s behalf in accordance with subdivision (b) of Section 22372.
(5) The finder’s location for services under this article and other information required by Section 22375 has been reported to the commissioner and the finder has not been barred from providing services at that location by the commissioner.
(c) No licensee shall, directly or indirectly, pass on to a borrower any fee or other compensation, or any portion of any fee or other compensation, that the licensee pays to a finder in connection with that borrower’s loan.
(Amended by Stats. 2015, Ch. 505, Sec. 4. (SB 235) Effective January 1, 2016. Repealed as of January 1, 2028, pursuant to Section 22381.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 3.6 - Pilot Program for Increased Access to Responsible Small Dollar Loans › Section 22375.

22375. A licensee that utilizes the service of a finder shall do all of the following:
(a) Notify the commissioner within 15 days of entering into a contract with a finder, on a form acceptable to the commissioner, regarding all of the following:
(1) The name, business address, and licensing details of the finder and all locations at which the finder will perform services under this article.
(2) The name and contact information for an employee of the finder who is knowledgeable about, and has the authority to execute, the contract governing the business relationship between the finder and the licensee.
(3) The name and contact information for one or more employees of the finder who are responsible for that finder’s finding activities on behalf of the licensee.
(4) A list of the activities the finder shall perform on behalf of the licensee.
(5) Any other information requested by the commissioner.
(b) Pay an annual finder registration fee to the commissioner in an amount to be established by the commissioner by regulation for each finder utilized by the licensee.
(c) Submit an annual report to the commissioner including, for each finder, the information listed in paragraph (12) and subparagraph (A) of paragraph (13) of subdivision (d) of Section 22380, and any other information pertaining to each finder and the licensee’s relationship and business arrangements with each finder as the commissioner may by regulation require. The information disclosed to the commissioner for the report described in this subdivision is exempted from any requirement of public disclosure by subdivision (b) of Section 7929.000 of the Government Code.
(Amended by Stats. 2021, Ch. 615, Sec. 112. (AB 474) Effective January 1, 2022. Operative January 1, 2023, pursuant to Sec. 463 of Stats. 2021, Ch. 615. Repealed as of January 1, 2028, pursuant to Section 22381.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 3.6 - Pilot Program for Increased Access to Responsible Small Dollar Loans › Section 22376.

22376. All arrangements between a licensee and a finder shall be set forth in a written agreement between the parties. The agreement shall contain a provision establishing that the finder agrees to comply with all regulations that are established by the commissioner pursuant to this article regarding the activities of finders and that the commissioner shall have access to all of the finder’s books and records that pertain to the finder’s operations under the agreement with the licensee.
(Added by Stats. 2013, Ch. 467, Sec. 2. (SB 318) Effective January 1, 2014. Repealed as of January 1, 2028, pursuant to Section 22381.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 3.6 - Pilot Program for Increased Access to Responsible Small Dollar Loans › Section 22377.

22377. (a) The commissioner may examine the operations of each licensee and each finder to ensure that the activities of the licensee and the finder are in compliance with this article. The costs of the commissioner’s examination of each finder shall be attributed to the commissioner’s examination of the licensee. Any violation of this article by a finder or a finder’s employee shall be attributed to the finance lender with whom it has entered into an agreement for purposes of determining the licensee’s compliance with this division.
(b) Upon a determination that a finder has acted in violation of this article, or any implementing regulation, or upon a determination that it would be warranted by the data reported to the commissioner pursuant to subdivision (c) of Section 22375 for any finder, the commissioner may disqualify a finder from performing services under this article, bar a finder from performing services at one or more specific locations of that finder, terminate a written agreement between a finder and a licensee, and, if the commissioner deems that action in the public interest, prohibit the use of that finder by all licensees accepted to participate in the pilot program.
(c) In addition to any other penalty allowed by law, the commissioner may impose an administrative penalty up to two thousand five hundred dollars ($2,500) for violations of this article committed by a finder.
(Amended by Stats. 2015, Ch. 505, Sec. 6. (SB 235) Effective January 1, 2016. Repealed as of January 1, 2028, pursuant to Section 22381.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 3.6 - Pilot Program for Increased Access to Responsible Small Dollar Loans › Section 22378.

22378. Notwithstanding the requirements of Section 22102 and its implementing regulations, a licensee accepted to participate in the program may appoint one or more branch managers with responsibility for multiple branch locations, subject to approval by the commissioner, and a finding by the commissioner that the centralized nature of underwriting and other key business activities performed by the licensee does not require a unique manager for each branch location, to ensure the protection of consumers who seek out loans from the licensee. The commissioner may revoke this approval at any time, upon a finding that a unique branch manager at each branch location is required for consumer protection.
(Added by Stats. 2013, Ch. 467, Sec. 2. (SB 318) Effective January 1, 2014. Repealed as of January 1, 2028, pursuant to Section 22381.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 3.6 - Pilot Program for Increased Access to Responsible Small Dollar Loans › Section 22379.

22379. (a) Notwithstanding any other law, the commissioner shall examine each licensee that is accepted into the program, and each finder whose services were used by the licensee, at least once every 24 months.
(b) Notwithstanding subdivision (a), the commissioner shall have the authority to waive one or more branch office examinations, if the commissioner deems that the branch office examinations are not necessary for the protection of the public, due to the centralized operations of the licensee or other factors acceptable to the commissioner.
(c) The cost of each examination of a licensee shall be paid to the commissioner by the licensee examined, and the commissioner may maintain an action for the recovery of the cost in any court of competent jurisdiction. In determining the cost of the examination, the commissioner may use the estimated average hourly cost for all persons performing examinations of licensees or other persons subject to this division for the fiscal year.
(Amended by Stats. 2018, Ch. 1016, Sec. 4. (AB 237) Effective January 1, 2019. Repealed as of January 1, 2028, pursuant to Section 22381.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 3.6 - Pilot Program for Increased Access to Responsible Small Dollar Loans › Section 22380.5.

22380.5. (a) The Pilot Program for Affordable Credit-Building Opportunities as described in Article 3.5 (commencing with Section 22348) is abolished.
(b) All powers, duties, purposes, jurisdiction, responsibilities, and functions of the Commissioner of Corporations with respect to the former Article 3.5 (commencing with Section 22348) are transferred to the Commissioner of Financial Protection and Innovation.
(c) Any licensee approved to participate in the Pilot Program for Affordable Credit-Building Opportunities as described in the former Article 3.5 (commencing with Section 22348) shall be transferred to, and subject to, the provisions of this article.
(d) Any outstanding loans made under the former Pilot Program for Affordable Credit-Building Opportunities as described in Article 3.5 (commencing with Section 22348) shall continue in existence and be valid on and after January 1, 2014, subject to those terms and conditions that existed at the time the loan was made pursuant to the former Article 3.5 (commencing with Section 22348).
(e) Data submitted to the commissioner by licensees accepted to the former Pilot Program for Affordable Credit-Building Opportunities shall be summarized by the commissioner in the report due to the Legislature on or before July 1, 2015, pursuant to subdivision (a) of Section 22380.
(Amended by Stats. 2022, Ch. 452, Sec. 139. (SB 1498) Effective January 1, 2023. Repealed as of January 1, 2028, pursuant to Section 22381.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 3.6 - Pilot Program for Increased Access to Responsible Small Dollar Loans › Section 22381.

22381. This article shall remain in effect only until January 1, 2028, and as of that date is repealed.
(Amended by Stats. 2020, Ch. 174, Sec. 2. (AB 2196) Effective January 1, 2021. Repealed as of January 1, 2028, by its own provisions. Repeal affects Article 3.6, commencing with Section 22365.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 4 - Charges On Scheduled Balances › Section 22401.

22401. With respect to precomputed loans, licensees shall be subject only to, comply only with, and derive authority only from Sections 22400 and 22402, notwithstanding any other provision of law that is not within this division.
(Repealed and added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 4 - Charges On Scheduled Balances › Section 22402.

22402. When charges on a loan of an original bona fide principal amount of five thousand ($5,000) or more have been precomputed in a manner similar to that provided in Section 22400, and the loan is prepaid in full by cash, a new loan, refinancing, or otherwise, or the maturity of the loan contract is accelerated for any reason, the borrower shall receive a rebate or credit of that portion of the precomputed charge that is the difference between the total precomputed charge and the charges at the contract rate computed in accordance with the provisions of Section 22307 or 22308, or on the basis of 12 equal months of 30 days each, on the assumption that all payments were received by the licensee on their respective due dates. This section does not apply to charges paid by the borrower to the lender or others, such as charges computed as a percentage of the loan, that are fully earned upon making the loan, or to charges agreed to be paid by the borrower upon prepayment of a loan secured by a lien upon real property.
(Repealed and added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 5 - Open-End Loan Programs › Section 22450.

22450. As used in this division, “open-end credit program” means a licensee’s plan for making open-end loans pursuant to a loan agreement that sets forth the terms and conditions governing the use of the open-end credit program, expressly states that the loan is made pursuant to this article, and provides that:
(a) The borrower may use the open-end credit program to obtain money, goods, labor, or services on credit. The licensee makes open-end loans to the borrower for the purpose of paying money to or at the direction of the borrower or paying obligations that the borrower creates through use of the open-end credit program.
(b) The amount of each advance and the charges and other permitted costs are debited to an account.
(c) The charges are computed from time to time on the unpaid balances of the borrower’s account, excluding from the computation any unpaid charges other than permitted fees, costs, and expenses.
(d) The borrower has the privilege of paying the account in full at any time.
(Repealed and added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 5 - Open-End Loan Programs › Section 22451.

22451. If an open-end credit program is not primarily for the purpose of purchasing or leasing goods or services from the licensee, then all credit extended through use of the program, including transactions that involve the purchase or lease of goods or services from the licensee, shall be subject to this division.
(Repealed and added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 5 - Open-End Loan Programs › Section 22452.

22452. Subject to the written approval of the commissioner of the licensee’s plan of business for making open-end loans as not being misleading or deceptive and subject to regulations the commissioner may adopt with respect to open-end loans under Section 22150, a licensee may make open-end loans pursuant to this article and may contract for and receive thereon charges as set forth in Sections 22303, 22304, 22304.5, and 22308. These charges may be calculated on an amount not exceeding the greater of:
(a) The actual daily unpaid balances of the open-end account in the billing cycle for which the charge is made, in which case one-thirtieth of the monthly rate may be charged for each day the unpaid balance is outstanding.
(b) The average daily unpaid balance of the open-end account in the billing cycle for which the charge is made, which is the sum of the amount unpaid each day during that cycle divided by the number of days in that cycle. The amount unpaid on a day is determined by adding to any balance unpaid as of the beginning of that day all advances and other debits and deducting all payments and other credits made or received as of that day. The billing cycle shall be monthly. A billing cycle is monthly if the closing date of the cycle is the same date each month or does not vary by more than four days from the regular date.
This section does not apply to any open-end loan of a bona fide principal amount of ten thousand dollars ($10,000) or more as determined in accordance with Section 22467.
(Amended by Stats. 2019, Ch. 708, Sec. 9. (AB 539) Effective January 1, 2020.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 5 - Open-End Loan Programs › Section 22453.

22453. The minimum monthly payment shall be determined by any of the following:
(a) The amount calculated by multiplying the unpaid principal balance, after an advance and including the advance, by a percent agreed upon by the borrower and the licensee, which shall be no less than 2
1
/
2
percent. The minimum payment shall continue at the amount determined pursuant to this paragraph until a subsequent loan advance is made.
(b) The amount calculated by multiplying the unpaid balance at the end of each billing cycle by a percent agreed upon by the borrower and the licensee, which shall be no less than 5 percent.
(c) Any other bona fide amount agreed upon by the borrower and the licensee which would be sufficient to pay all charges and some principal, originally scheduled to be due by the borrower as of each scheduled due date.
This section does not apply to any open-end loan of a bona fide principal amount of ten thousand dollars ($10,000) or more as determined in accordance with Section 22467.
(Amended by Stats. 2019, Ch. 708, Sec. 10. (AB 539) Effective January 1, 2020.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 5 - Open-End Loan Programs › Section 22454.

22454. On open-end loans, the licensee may contract for and receive the fees, costs, and expenses permitted on other loans, including those permitted by subdivisions (a), (b), (c), and (d) of Section 22313 and subdivision (d) of Section 22314, except that the charge for credit insurance under Section 22314 shall be on a monthly basis and shall be actuarially consistent with the premium rate for the same coverage.
This section does not apply to any open-end loan of a bona fide principal amount of ten thousand dollars ($10,000) or more as determined in accordance with Section 22467.
(Amended by Stats. 2019, Ch. 708, Sec. 11. (AB 539) Effective January 1, 2020.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 5 - Open-End Loan Programs › Section 22455.

22455. (a) In lieu of subdivisions (b), (c), (d), (e), and (f) of Section 22314, with respect to open-end loans, a licensee may provide credit insurance with the borrower’s consent, in a form to be approved by the Insurance Commissioner, in an amount not in excess of the amount of the indebtedness. For credit life or disability insurance, the licensee may collect from the borrower an amount established pursuant to Section 779.36 of the Insurance Code.
(b) If life insurance is provided, and if the insured borrower dies during the term of the loan contract, the insurance shall be sufficient to pay the total amount due on the loan outstanding on the date of his or her death, without any exception, reservation, or limitation.
(c) If disability insurance is provided, and if the insured borrower becomes disabled during the term of the loan contract, the insurance shall be sufficient to pay all amounts attributable to the loan balance at the time of commencement of disability that subsequently become due on the loan thereafter during the period of disability, in accordance with subdivision (d) of Section 22315, without any exception, reservation, or limitation.
(d) If loss-of-income insurance is provided, and if the insured borrower becomes unemployed during the term of the loan contract, the insurance shall be sufficient to pay all amounts attributable to the loan balance at the time of commencement of unemployment in accordance with subdivision (d) of Section 22321 without any exception, reservation, or limitation.
(e) Any credit insurance that is provided shall be in force as soon as the loan is made or coverage is agreed upon, whichever is later. No credit insurance written in connection with an open-end loan shall be canceled by the lender because of delinquency of the borrower in the making of the minimum payments thereon unless one or more of the payments is past due for a period of 90 days or more, and the lender shall advance to the insurer the amounts required to keep the insurance in force during that period, which amounts may be debited to the borrower’s account.
This section does not apply to any open-end loan of a bona fide principal amount of ten thousand dollars ($10,000) or more as determined in accordance with Section 22467.
(Repealed and added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 5 - Open-End Loan Programs › Section 22456.

22456. Section 22309 shall apply to open-end loans with the following variations:
(a) To comply with Section 22309, in the case of open-end loan advances directly to the borrower, the licensee shall deliver to the borrower, at the time of each loan advance, an amount equal to the face value of the advance.
(b) To comply with Section 22309, in the case of an open-end loan advance in the form of a payment by the licensee to a person from whom a borrower obtained money, goods, labor, or services, the licensee shall deliver to that person the amounts necessary to fulfill the borrower’s obligation to that person under the transaction.
This section does not apply to any open-end loan of a bona fide principal amount of ten thousand dollars ($10,000) or more as determined in accordance with Section 22467.
(Amended by Stats. 2019, Ch. 708, Sec. 12. (AB 539) Effective January 1, 2020.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 5 - Open-End Loan Programs › Section 22457.

22457. In lieu of Section 22332, the open-end loan agreement shall contain the name, address, and license number of the finance lender and shall disclose the nature of the security taken, the method of determining the minimum payments that will be required to repay the initial advance and any subsequent advances on the loan, and the agreed rate of charge.
(Repealed and added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 5 - Open-End Loan Programs › Section 22458.

22458. In lieu of subdivision (a) of Section 22337, with respect to open-end loans, except in the case of an account that the licensee deems to be uncollectible, or for which delinquency collection procedures have been instituted, the licensee shall deliver or cause to be delivered to the borrower, or any one thereof, for each billing cycle at the end of which there is an outstanding balance in the account, or to which a finance charge is imposed, a statement setting forth the outstanding balance in the account at the beginning of the billing cycle, the date and amount of any subsequent loan advance during the period, the amounts and dates of crediting to the account during the billing cycle that payments are credited, the amount of any finance charge debited to the account during the billing cycle, the annual percentage rate of finance charge determined under Regulation Z promulgated by the Board of Governors of the Federal Reserve System (12 C.F.R. 226), the balance on which the finance charge was computed, the closing date of the billing cycle, the outstanding balance on that date, and the minimum monthly payment required in the absence of any additional advance. If there has been any change in the nature of the security for the loan since the next preceding advance, the statement shall contain or be accompanied by a statement of the nature of the security for the loan after that change.
(Repealed and added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 5 - Open-End Loan Programs › Section 22459.

22459. Subdivision (e) of Section 22337 shall not apply to an open-end loan that has no balance outstanding if the open-end loan agreement continues in effect.
(Repealed and added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 5 - Open-End Loan Programs › Section 22460.

22460. Section 22333 shall not apply to a change in terms of an open-end loan if notice is given to the borrower in accordance with subsection (c) of Section 226.9 of Regulation Z promulgated by the Board of Governors of the Federal Reserve System (12 C.F.R. 226).
(Repealed and added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 5 - Open-End Loan Programs › Section 22461.

22461. Subdivision (a) of Section 22151, Sections 22154 and 22325, and subdivision (b) of Section 22337 shall not apply to a licensee with respect to advances made through an open-end credit program.
(Repealed and added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 5 - Open-End Loan Programs › Section 22462.

22462. The payment of fees for participation in an open-end credit program, the acceptance by a borrower of the form of the licensee’s program, and the borrower’s agreement to the licensee’s program shall not be deemed to be a collateral sale, purchase, or agreement within the terms of Section 22201, 22311, or 22312.
(Repealed and added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 5 - Open-End Loan Programs › Section 22463.

22463. Nothing in this article limits the authority of the commissioner to disapprove advertising with respect to open-end loans pursuant to Section 22165.
(Amended by Stats. 2019, Ch. 708, Sec. 13. (AB 539) Effective January 1, 2020.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 5 - Open-End Loan Programs › Section 22464.

22464. This article does not apply to loans other than open-end loans.
(Amended by Stats. 2019, Ch. 708, Sec. 14. (AB 539) Effective January 1, 2020.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 5 - Open-End Loan Programs › Section 22465.

22465. Section 22400 does not apply to open-end loans.
(Repealed and added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 5 - Open-End Loan Programs › Section 22466.

22466. An open-end loan is in compliance with Section 22330 if it is an open-end loan of a bona fide principal amount of five thousand dollars ($5,000) or more as determined in accordance with Section 22467.
(Repealed and added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 5 - Open-End Loan Programs › Section 22467.

22467. (a) Any section that refers to this section or that is subject to Section 22251 does not apply to any open-end loan of the bona fide principal amount specified in the regulatory ceiling provision of that section or more, or to a duly licensed finance lender in connection with any such loan if that provision is not used for the purpose of evading this division.
(b) In determining whether an open-end loan is an open-end loan of a bona fide principal amount specified in any section in this division or more and whether the regulatory ceiling provision of that section is used for the purpose of evading this division, the open-end loan shall be deemed to be for that amount or more if both the following criteria are met:
(1) The line of credit is equal to or more than the bona fide principal amount of the specified amount.
(2) The initial advance was equal to or more than the bona fide principal amount of the specified amount.
(c) A subsequent advance of money of less than the specified amount pursuant to the open-end loan agreement between a borrower and a licensed finance lender shall be deemed to be a loan of a bona fide principal amount of the specified amount if the criteria of paragraphs (1) and (2) of subdivision (b) have been met, even though the actual unpaid balance after the advance or at any other time is less than the bona fide principal amount of the specified amount.
(d) Notwithstanding subdivisions (b) and (c), the amount of the line of credit of an unsecured open-end loan shall be the criterion to determine whether an unsecured open-end loan is of a bona fide principal amount or more specified in any section in this division.
(e) For the purposes of determining whether the loan amount exceeds a regulatory ceiling, the provisions of subdivision (c) of Section 22251 shall apply to open-end loans.
(Amended by Stats. 1999, Ch. 347, Sec. 5. Effective January 1, 2000.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 2 - Consumer Loans › ARTICLE 6 - Disclosure of Loan Applications › Section 22470.

22470. (a) (1) Upon the request of a person who has obtained a police report pursuant to Section 530.6 of the Penal Code, a finance lender engaged in the business of making consumer loans shall provide to the person, or to a law enforcement officer specified by the person, copies of all application forms or application information containing the person’s name, address, or other identifying information pertaining to the application filed with the finance lender by an unauthorized person in violation of Section 530.5 of the Penal Code.
(2) Before providing copies pursuant to paragraph (1), the finance lender shall inform the requesting person of the categories of identifying information that the unauthorized person used to complete the application, and shall require the requesting person to provide identifying information in those categories and a copy of the police report.
(3) The finance lender shall provide copies of all forms and information required by this section, without charge, within 10 business days of receipt of the person’s request and submission of the required copy of the police report and identifying information.
(b) (1) Before a finance lender provides copies to a law enforcement officer pursuant to paragraph (1) of subdivision (a), the finance lender may require the requesting person to provide them with a signed and dated statement by which the person does all of the following:
(A) Authorizes disclosure for a stated period.
(B) Specifies the name of the agency or department to which the disclosure is authorized.
(C) Identifies the type of records that the person authorizes to be disclosed.
(2) The finance lender shall include in the statement to be signed by the requesting person a notice that the person has the right at any time to revoke the authorization.
(c) As used in this section, “law enforcement officer” means a peace officer as defined by Section 830.1 of the Penal Code.
(Added by Stats. 2001, Ch. 493, Sec. 3. Effective January 1, 2002.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 3 - Commercial Loans › ARTICLE 1 - Definitions › Section 22500.

22500. “Charges” include the aggregate interest, fees, bonuses, commissions, brokerage, discounts, expenses, and other forms of costs charged, contracted for, or received by a licensee or any other person in connection with the investigating, arranging, negotiating, procuring, guaranteeing, making, servicing, collecting, and enforcing of a loan or forbearance of money, credit, goods, or things in action, or any other service rendered.
(Repealed and added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 3 - Commercial Loans › ARTICLE 1 - Definitions › Section 22501.

22501. “Charges” do not include commissions received as a licensed insurance agent or broker.
(Repealed and added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 3 - Commercial Loans › ARTICLE 1 - Definitions › Section 22502.

22502. “Commercial loan” means a loan of a principal amount of five thousand dollars ($5,000) or more, or any loan under an open-end credit program, whether secured by either real or personal property, or both, or unsecured, the proceeds of which are intended by the borrower for use primarily for other than personal, family, or household purposes.
For purposes of determining whether a loan is a commercial loan, the lender may rely on any written statement of intended purposes signed by the borrower. The statement may be a separate statement signed by the borrower or may be contained in a loan application or other document signed by the borrower. The lender shall not be required to ascertain that the proceeds of the loan are used in accordance with the statement of intended purposes.
(Repealed and added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 3 - Commercial Loans › ARTICLE 2 - Exemptions › Section 22550.

22550. Sections 22152, 22154, 22155, 22163, and 22164 do not apply to any commercial loan of a bona fide principal amount of five thousand dollars ($5,000) or more, or to a duly licensed finance lender in connection with any such loan or loans, if the provisions of this section are not used for the purpose of evading this division.
(Added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 3 - Commercial Loans › ARTICLE 2 - Exemptions › Section 22552.

22552. This chapter does not apply to a program administrator or a PACE solicitor.
(Added by Stats. 2017, Ch. 475, Sec. 70. (AB 1284) Effective October 4, 2017.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 3 - Commercial Loans › ARTICLE 3 - Loan Regulations › Section 22600.1.

22600.1. (a) A licensee that is a finance lender may sell to (1) an institutional lender, or (2) an institutional investor described in paragraph (6) of subdivision (b) of Section 22600, promissory notes evidencing the obligation to repay real estate secured business purpose loans, as defined in Section 3500.5 of Title 24 of the Code of Federal Regulations, purchased from and made by an institutional lender, and may make agreements for the collection of payments and performance of services with respect to those notes. For purposes of this section, “institutional lender” means any bank, trust company, savings bank or savings and loan association, credit union, or industrial loan company doing business under the authority of and in accordance with a license, certificate or charter issued by the United States or this state.
(b) In the absence of agreement to the contrary by the licensee and the institutional investor or institutional lender, all payments received from the collection of payments shall be deposited and maintained in a trust account, and shall be disbursed from the trust account only in accordance with the instructions of the owner of the promissory note.
(Amended by Stats. 1998, Ch. 428, Sec. 3. Effective January 1, 1999.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 3 - Commercial Loans › ARTICLE 3 - Loan Regulations › Section 22601.

22601. With respect to a loan under this division, a fee not to exceed fifteen dollars ($15) for the return by a depository institution of a dishonored check, negotiable order of withdrawal, or share draft may be charged and collected by the licensee. The fee is not included in charges as defined in this division.
(Repealed and added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 3 - Commercial Loans › ARTICLE 3 - Loan Regulations › Section 22603.

22603. A licensee that is a finance lender shall provide a prospective borrower who has been referred by an unlicensed person the following written statement, in 10-point font or larger, at the time the licensee receives an application for a commercial loan, and shall require the prospective borrower to acknowledge receipt of the statement in writing:
“You have been referred to us by [Name of Unlicensed Person]. If you are approved for the loan, we may pay a fee to [Name of Unlicensed Person] for the successful referral. [Licensee], and not [Name of Unlicensed Person] is the sole party authorized to offer a loan to you. You should ensure that you understand any loan offer we may extend to you before agreeing to the loan terms. If you wish to report a complaint about this loan transaction, you may contact the Department of Financial Protection and Innovation at 1-866-ASK-CORP (1-866-275-2677), or file your complaint online at www.dfpi.ca.gov.
(Amended by Stats. 2022, Ch. 452, Sec. 140. (SB 1498) Effective January 1, 2023.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 3 - Commercial Loans › ARTICLE 3 - Loan Regulations › Section 22604.

22604. (a) Any person that receives compensation in connection with a referral, as described in Section 22602, that leads to the consummation of a commercial loan under this division may not do any of the following:
(1) Make a materially false or misleading statement or representation to a prospective borrower about the terms or conditions of a prospective loan.
(2) Advertise, print, display, publish, distribute, or broadcast any statement or representation with regard to the conditions for making or negotiating a loan that is false, misleading, or deceptive, or that omits material information that is necessary to make the statements made not false, misleading, or deceptive.
(3) Engage in any act in violation of Section 17200 of the Business and Professions Code.
(4) Commit an act that constitutes fraud or dishonest dealings.
(5) Fail to safeguard a prospective borrower’s personally identifiable information.
(b) For purposes of this section, “personally identifiable information” means information that is not publicly available, that a prospective borrower provides for the purpose of obtaining a loan or other financial product. Personally identifiable information includes information a prospective borrower provides on an application to obtain a loan, credit card, or other financial product or service.
(c) Whenever, in the opinion of the commissioner, any person is engaged in the business of soliciting borrowers for a loan to be made by a licensee under this division, and the person is not in compliance with this section, Section 22602, Section 22603, or any other provision of this division authorizing such activity or exempting the person from this division, the commissioner may order the person to desist and to refrain from engaging in the business or further violating this division.
(Added by Stats. 2015, Ch. 761, Sec. 3. (SB 197) Effective January 1, 2016.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 3 - Commercial Loans › ARTICLE 4 - Open-End Credit Programs › Section 22650.

22650. As used in this division, “open-end credit program” means a licensee’s plan for making open-end loans pursuant to a loan agreement that sets forth the terms and conditions governing the use of the open-end credit program, expressly states that the loan is made pursuant to this article, and provides that:
(a) The borrower may use the open-end credit program to obtain money, goods, labor, or services or credit, and the licensee makes open-end loans to the borrower for the purpose of paying money to, or at the direction of, the borrower or paying obligations that the borrower creates through use of the open-end credit program.
(b) The amount of each advance and the charges and other permitted costs are debited to an account.
(c) The charges are computed from time to time on the unpaid balances of the borrower’s account excluding from the computation any unpaid charges other than permitted fees, costs, and expenses.
(d) The borrower has the privilege of paying the account in full at any time.
(Repealed and added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 3.5 - Program Administrators › Section 22681.

22681. (a) A program administrator shall establish and maintain a training program for PACE solicitor agents that is acceptable to the commissioner.
(b) A program administrator shall require each PACE solicitor agent to complete an introductory training that addresses the topics listed in subdivision (c) as part of the program administrator’s enrollment process for PACE solicitor agents. The introductory training shall require that the PACE solicitor agent pass a test that measures the PACE solicitor agent’s knowledge and comprehension of the training material. The introductory training shall not be subject to any minimum duration requirements.
(c) In addition to the introductory training, a program administrator shall require that each PACE solicitor agent complete six hours of education provided by the program administrator within three months of completing the program administrator’s enrollment process. The training shall include the following topics:
(1) PACE programs and assessment contracts.
(2) PACE disclosures.
(3) Ethics.
(4) Fraud prevention.
(5) Consumer protection.
(6) Nondiscrimination.
(7) Senior financial abuse.
(Amended by Stats. 2018, Ch. 813, Sec. 6. (AB 2063) Effective January 1, 2019.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 3.5 - Program Administrators › Section 22682.

22682. (a) A program administrator shall, in the manner prescribed by the commissioner, timely notify the commissioner of each PACE solicitor and PACE solicitor agent enrolled by the program administrator.
(b) A program administrator shall, in the manner prescribed by the commissioner, timely notify the commissioner of each enrollment cancellation and withdrawal of a PACE solicitor or a PACE solicitor agent pursuant to subdivision (g) of Section 22680.
(Amended by Stats. 2018, Ch. 813, Sec. 7. (AB 2063) Effective January 1, 2019.)
2023 California Code › Financial Code - FIN › DIVISION 9 - CALIFORNIA FINANCING LAW › CHAPTER 3.5 - Program Administrators › Section 22683.

22683. A program administrator shall develop and implement policies and procedures for responding to questions and addressing complaints as soon as reasonably practicable.
(Added by Stats. 2017, Ch. 475, Sec. 71. (AB 1284) Effective October 4, 2017. Section operative January 1, 2019, pursuant to Section 22696.)