DIVISION 9.5. Commercial Financing Disclosures [22800. - 22807.]

Division 9.5 added by Stats. 2018, Ch. 1011, Sec. 2.

§§ 22800–22807 · 8 sections

• § 22800 For purposes of this division: (a) “Account” means a right to a payment of a monetary obligation. (b) “Accounts receivable purchase transaction” means a…
• § 22801 This division does not apply to any of the following: (a) A provider that is a depository institution. (b) A provider that is a lender regulated under the…
• § 22802 (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…
• § 22803 As an alternative to the disclosures required in subdivision (b) of Section 22802, a provider who offers commercial financing that is factoring or asset-based…
• § 22804 (a) The commissioner shall adopt regulations governing the disclosures described in paragraphs (1) to (5), inclusive, of subdivision (b) of Section 22802 and…
• § 22805 No provision of this division imposes any liability on a provider as a result of the actual Annual Percentage Rate (APR) charged by a provider differing from…
• § 22806 (a) A provider shall not use the term “interest” or “rate” in a deceptive way that could reasonably result in the recipient being misled. (b) After extending a…
• § 22807 (a) A violation of this division by a person licensed under the California Financing Law (Division 9 (commencing with Section 22000)) shall be deemed a…