CHAPTER 3. Commercial Loans [22500. - 22650.]

Chapter 3 added by Stats. 1994, Ch. 1115, Sec. 2.

§§ 22500–22650 · 13 sections

1. ARTICLE 1. Definitions §§ 22500–22502 · 3 sections

   • § 22500 “Charges” include the aggregate interest, fees, bonuses, commissions, brokerage, discounts, expenses, and other forms of costs charged, contracted for, or…
   • § 22501 “Charges” do not include commissions received as a licensed insurance agent or broker.
   • § 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…
2. ARTICLE 2. Exemptions §§ 22550–22552 · 3 sections

   • § 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,…
   • § 22551 In determining whether a loan is a loan of a bona fide principal amount of the specified amount or more, the following principles shall apply: (a) If a…
   • § 22552 This chapter does not apply to a program administrator or a PACE solicitor.
3. ARTICLE 3. Loan Regulations §§ 22600–22604 · 6 sections

   • § 22600 (a) A licensee may sell promissory notes evidencing the obligation to repay loans made by the licensee pursuant to this division or evidencing the obligation…
   • § 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)…
   • § 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,…
   • § 22602 (a) A licensee that is a finance lender may pay compensation to a person that is not licensed pursuant to this division in connection with the referral of one…
   • § 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…
   • § 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…
4. ARTICLE 4. Open-End Credit Programs § 22650 · 1 section

   • § 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…