ARTICLE 3.6. Pilot Program for Increased Access to Responsible Small Dollar Loans
Article 3.6 added by Stats. 2013, Ch. 467, Sec. 2.
§§ 22365–22381 · 18 sections
- § 22365 (a) The Pilot Program for Increased Access to Responsible Small Dollar Loans is hereby established. (b) For purposes of this article: (1) “Commissioner” means…
- § 22366 (a) Any entity licensed under this chapter that wishes to participate in the program, that is in good standing with the commissioner and has no outstanding…
- § 22367 Every entity approved by the commissioner to participate in the program shall file with the commissioner on or before March 15 an annual report consistent with…
- § 22368 Except as otherwise provided, nothing in this article shall exempt any licensee from any of the provisions of this division or Section 1632 of the Civil Code.
- § 22369 No licensee may offer or make a loan, nor impose any charges or fees pursuant to Section 22370, nor use a finder pursuant to Section 22371, without prior…
- § 22370 (a) A loan made pursuant to this section shall comply with the following requirements: (1) The loan shall be unsecured. (2) Interest on the loan shall accrue…
- § 22371 (a) A licensee who is approved by the commissioner to participate in the program may use the services of one or more finders as provided in this article. In…
- § 22372 (a) A finder may perform one or more of the following services for a licensee at the finder’s physical location for business: (1) Distributing, circulating,…
- § 22373 (a) At the time the finder receives or processes an application for a program loan, the finder shall provide the following statement to the applicant, on…
- § 22374 (a) A finder may be compensated by the licensee pursuant to the written agreement between the licensee and the finder, as described in Section 22376.…
- § 22375 A licensee that utilizes the service of a finder shall do all of the following: (a) Notify the commissioner within 15 days of entering into a contract with a…
- § 22376 All arrangements between a licensee and a finder shall be set forth in a written agreement between the parties. The agreement shall contain a provision…
- § 22377 (a) The commissioner may examine the operations of each licensee and each finder to ensure that the activities of the licensee and the finder are in compliance…
- § 22378 Notwithstanding the requirements of Section 22102 and its implementing regulations, a licensee accepted to participate in the program may appoint one or more…
- § 22379 (a) Notwithstanding any other law, the commissioner shall examine each licensee that is accepted into the program, and each finder whose services were used by…
- § 22380 (a) On or before July 1, 2015, and annually on or before July 1, 2017, to July 1, 2026, inclusive, the commissioner shall post a report on the commissioner’s…
- § 22380.5 (a) The Pilot Program for Affordable Credit-Building Opportunities as described in Article 3.5 (commencing with Section 22348) is abolished. (b) All powers,…
- § 22381 This article shall remain in effect only until January 1, 2028, and as of that date is repealed.