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§ 40.615. Collection Expenses.

10 CA ADC § 40.615Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 10. Investment
Chapter 1. Commissioner of Business Oversight, Division of Financial Institutions
Subchapter 40. Industrial Loans
Article 6. Loans and Obligations Receivable
10 CCR § 40.615
§ 40.615. Collection Expenses.
Currentness
Collection expenses under Section 18218(b) of the Financial Code may be charged only when a bona fide attempt to liquidate the entire loan balance is made. Collection expenses shall not be charged to a borrower for the collection of past due payments or installments nor shall the collection charge be made more than once on the unpaid principal balance of the loan.

Credits

Note: Authority cited: Section 18347, Financial Code. Reference: Section 18218(b), Financial Code.
History
1. Change without regulatory effect renumbering former section 1172 to new section 40.615 filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).
This database is current through 5/3/24 Register 2024, No. 18.
Cal. Admin. Code tit. 10, § 40.615, 10 CA ADC § 40.615
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