§ 901. General Requirements.
10 CA ADC § 901Barclays Official California Code of Regulations
10 CCR § 901
§ 901. General Requirements.
(2) For any disclosure required to comply with section 920, subdivision (a), at the bottom of the disclosure, below any other information required by this subchapter, the provider shall print the following statement: “Applicable law requires this information to be provided to you to help you make an informed decision. By signing below, you are confirming that you received this information.” Below the statement, the provider shall include a space for the recipient to sign the form labeled “Recipient Signature” and a space for the recipient to write the date of their signature, labeled “Date.”
(3) For any disclosure other than a disclosure required to comply with section 920, subdivision (a), at the bottom of the disclosure, below any other information required by this subchapter, the provider shall include the following statement: “Applicable law requires this information to be provided to you to help you make an informed decision.”
(A) The provider may present the required disclosure in fonts and colors that are clear, complete, conspicuous, easy to compare with other disclosures, and consistent with the requirements of this subchapter. A provider shall not use colors and fonts that make any enumerated terms required by section 22802, subdivision (b), of the code more clear or conspicuous than any other term required by that subdivision.
(8) A provider shall ensure that the width of the columns in the required disclosure is such that the disclosure does not unnecessarily extend onto multiple pages. A provider that formats the columns in the required disclosure such that the ratio between the first, second and third columns is 3:3:7 complies with the requirements of this subdivision.
(11) If disclosures are provided to a recipient electronically, the provider shall include a method for the recipient to submit an electronic signature that complies with Civil Code section 1633.2, subdivision (h), and automatic date stamp to comply with subdivision (a)(2) of this section and provide the recipient with the ability to receive a copy of the disclosure in a format that the recipient may keep. A format the recipient may keep includes hard copy disclosures, and electronic documents containing the required disclosures that the customer can save indefinitely for future reference.
(13) When making the disclosures required by this subchapter, for transactions where the applicable interest rate adjusts over time and the interest rate applicable for the entire term of the transaction cannot be calculated in advance, the provider shall assume that the applicable interest rate is the initial interest rate for any period when the interest rate cannot be calculated in advance.
(15) If a provider issues a disclosure where the amount financed includes funds used to pay down or pay off other amounts owed by the recipient that may change over time, and the amount due in connection with those amounts owed changes prior to consummation of the agreement between the financer and the recipient, the provider need not provide a new disclosure to the recipient solely because the amount due in connection with those amounts owed has changed.
Note: Authority cited: Sections 321 and 22804, Financial Code. Reference: Sections 22800, 22801, 22802, 22803 and 22804, Financial Code.
1. New section filed 6-9-2022; operative 12-9-2022 pursuant to Government Code section 11343.4(b)(2) (Register 2022, No. 23). Transmission deadline specified in Government Code section 11346.4(b) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20. Filing deadline specified in Government Code section 11349.3(a) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20.
This database is current through 9/22/23 Register 2023, No. 38.
Cal. Admin. Code tit. 10, § 901, 10 CA ADC § 901
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