CA Fin Code Section 12319

Every contract between a prorater and a debtor shall:

(a)

List every debt to be prorated with the creditor’s name and disclose the total of all such debts;

(b)

Provide payments reasonably within the ability of the debtor to pay in precise terms;

(c)

Disclose in precise terms the rate and amount of the prorater’s charge;

(d)

Disclose the approximate number and amount of installments required to pay the debts in full;

(e)

Disclose the name and address of the prorater and of the debtor;

(f)

Contain such other provision or disclosures as the commissioner shall determine is necessary for the protection of the debtor and the proper conduct of business by a prorater.

Source: Section 12319, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=FIN§ionNum=12319.­.

Last Updated

Aug. 19, 2023

§ 12319’s source at ca​.gov