CA Fin Code Section 22334

No licensee shall enter into any contract for a loan that provides for a scheduled repayment of principal over more than the maximum terms set forth below opposite the respective size of loans. Principal amount of loan Maximum term Less than $500 24 months and 15 days $500 but less than $1,500 36 months and 15 days $1,500 but less than $3,000 48 months and 15 days $3,000 but less than $5,000 60 months and 15 days This section does not apply to open-end loans, or to a student loan made by an eligible lender under the Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.), or to a student loan made pursuant to the Public Health Service Act, as amended (42 U.S.C. Sec. 294 et seq.).

Source: Section 22334, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=FIN§ionNum=22334.­.

Last Updated

Aug. 19, 2023

§ 22334’s source at ca​.gov