Cal. FIN § 12318
This is the official text of Cal. FIN § 12318, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
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Official statutory text
A prorater shall not take:
(a) Any contract, promise to pay, or other instrument which has any blank spaces when signed by a debtor;
(b) Any negotiable instrument for the prorater’s charges;
(c) Any note, wage assignment, real estate or chattel mortgage, or other security to secure the prorater’s charges;
(d) Any confession of judgment or power of attorney to confess judgment against the debtor or to appear for the debtor in a judicial proceeding.
(e) Concurrent with the signing of the contract or as part of the contract or as part of the application for the contract a release of any obligation to be performed on the part of the prorater.
(a) Any contract, promise to pay, or other instrument which has any blank spaces when signed by a debtor;
(b) Any negotiable instrument for the prorater’s charges;
(c) Any note, wage assignment, real estate or chattel mortgage, or other security to secure the prorater’s charges;
(d) Any confession of judgment or power of attorney to confess judgment against the debtor or to appear for the debtor in a judicial proceeding.
(e) Concurrent with the signing of the contract or as part of the contract or as part of the application for the contract a release of any obligation to be performed on the part of the prorater.
Status: in_force · Read it on the official government site
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