ARTICLE 5. Open-End Loan Programs [22450. - 22467.]
Article 5 added by Stats. 1994, Ch. 1115, Sec. 2.
§§ 22450–22467 · 18 sections
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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.
- § 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…
- § 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…
- § 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…
- § 22463 Nothing in this article limits the authority of the commissioner to disapprove advertising with respect to open-end loans pursuant to Section 22165.
- § 22464 This article does not apply to loans other than open-end loans.
- § 22465 Section 22400 does not apply to open-end loans.
- § 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…
- § 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…