CA Fin Code Section 12315

A prorater shall not receive any fee unless he has the consent of at least 51 percent of the total amount of indebtedness and of the number of creditors listed in the prorater’s contract with the debtor, or such like number of creditors have accepted a distribution of payment.

Source: Section 12315, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=12315..

Last Updated

Aug. 19, 2023

§ 12315’s source at ca.gov

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Location: https://california.public.law/codes/ca_fin_code_section_12315

Original Source: Section 12315, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=12315. (last accessed Aug. 19, 2023).