Statute · California Financial Code
Cal. Fin. Code § 12315 — Licensee Regulations
Cal. Fin. Code § 12315
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
A prorater shall not receive any fee unless he has the consent of at least 51 percent of the total amount of indebtedness and of the number of creditors listed in the prorater’s contract with the debtor, or such like number of creditors have accepted a distribution of payment.
Citator
Cal. Fin. Code § 12315 — Licensee Regulations is in force in the current edition of the Code, and nothing recorded condemns it.
A prorater shall not receive any fee unless he has the consent of at least 51 percent of the total amount of indebtedness and of the number of creditors listed in the prorater’s contract with the debtor, or such like number of creditors have accepted a distribution of payment.