§ 40.605. Reports of Collections.
10 CA ADC § 40.605Barclays Official California Code of Regulations
10 CCR § 40.605
§ 40.605. Reports of Collections.
An industrial loan company shall request in writing that any person, to whom as agent or otherwise an account is referred for collection and who receives any sum from a borrower in connection with the collection of such account, report to such industrial loan company in writing within not less than 30 days of the receipt of such sum the gross sum received and the date of the receipt thereof, provided, that if such account is referred or assigned pursuant to an express contract such contract shall specify that the report contemplated by this section must be given.
Credits
Note: Authority cited: Section 18347, Financial Code. Reference: Sections 18190 and 18029, Financial Code.
History
1. Change without regulatory effect renumbering former section 1158 to new section 40.605 and adding new Note filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).
This database is current through 4/26/24 Register 2024, No. 17.
Cal. Admin. Code tit. 10, § 40.605, 10 CA ADC § 40.605
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