Financial Code section 461

Any debt due a licensee on which interest is past due and unpaid for the period of one year shall be charged off, unless the debt is well secured or is in process of collection.

Source: Section 461, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=461. (updated Jan. 1, 2012; accessed Jun. 18, 2026).

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Up to date

Verified:
Jun. 18, 2026

§ 461's source at ca.gov

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Location: https://california.public.law/codes/financial_code_section_461

Original Source: Section 461, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=461. (last accessed May 12, 2025).