{"code":"FIN","codeName":"Financial Code","section":"22334","citation":"Fin. Code, § 22334","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 9. CALIFORNIA FINANCING LAW [22000. - 22780.1.]","url":"https://blackletter.si/financial-code/division-9"},{"name":"CHAPTER 2. Consumer Loans [22200. - 22470.]","url":"https://blackletter.si/financial-code/division-9/chapter-2"},{"name":"ARTICLE 3. Loan Regulations [22300. - 22347.]","url":"https://blackletter.si/financial-code/division-9/chapter-2/article-3"}],"history":"Amended by Stats. 2019, Ch. 708, Sec. 8.   (AB 539)   Effective January 1, 2020.","effective":"2020-01-01","html":"<p>(a) Except as provided in subdivision (b), a licensee shall not enter into any contract for a loan that provides for a scheduled repayment of principal over more than the maximum terms set forth below opposite the respective size of loans.</p><table><colgroup><col /><col /></colgroup><tbody><tr><td><p>Principal amount of loan</p></td><td><p>Maximum term</p></td></tr><tr><td><p>Less than $500 </p></td><td><p>24 months and 15 days</p></td></tr><tr><td><p>$500 but less than $1,500 </p></td><td><p>36 months and 15 days</p></td></tr><tr><td><p>$1,500 but less than $3,000 </p></td><td><p>48 months and 15 days</p></td></tr><tr><td><p>$3,000 but less than $10,000 </p></td><td><p>60 months and 15 days</p></td></tr></tbody></table><p>(b) The maximum loan term of 60 months and 15 days does not apply to a loan secured by real property of a bona fide principal amount of at least five thousand dollars ($5,000).</p><p>(c) A licensee shall not enter into any contract for a loan that provides for a scheduled repayment of principal that is less than 12 months. This subdivision applies to a loan of a bona fide principal amount of at least two thousand five hundred dollars ($2,500), but less than ten thousand dollars ($10,000).</p><p>(d) This section does not apply to an open-end loan, a student loan made by an eligible lender under the Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.), or a student loan made pursuant to the Public Health Service Act, as amended (42 U.S.C. Sec. 294 et seq.).</p>","text":"(a) Except as provided in subdivision (b), a licensee shall not enter into any contract for a loan that provides for a scheduled repayment of principal over more than the maximum terms set forth below opposite the respective size of loans. Principal amount of loan Maximum term Less than $500 24 months and 15 days $500 but less than $1,500 36 months and 15 days $1,500 but less than $3,000 48 months and 15 days $3,000 but less than $10,000 60 months and 15 days (b) The maximum loan term of 60 months and 15 days does not apply to a loan secured by real property of a bona fide principal amount of at least five thousand dollars ($5,000). (c) A licensee shall not enter into any contract for a loan that provides for a scheduled repayment of principal that is less than 12 months. This subdivision applies to a loan of a bona fide principal amount of at least two thousand five hundred dollars ($2,500), but less than ten thousand dollars ($10,000). (d) This section does not apply to an open-end loan, a student loan made by an eligible lender under the Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.), or a student loan made pursuant to the Public Health Service Act, as amended (42 U.S.C. Sec. 294 et seq.).","otherVersions":[],"url":"https://blackletter.si/financial-code/loan-regulations-22334","source":"California Legislative Information bulk export (pubinfo)"}