Cal. Financial Code § 22802
Cal. Financial Code § 22802
California · California Financial Code · Status: effective · Effective 2024-01-01
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- Citation
- Cal. Financial Code § 22802, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/815774
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Full text
(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.