Statute · California Financial Code
Cal. Fin. Code § 22802 — Commercial Financing Disclosures
Cal. Fin. Code § 22802
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 2024-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) A provider subject to this division shall disclose all of the information in subdivision (b) or in Section 22803, if applicable, to a recipient at the time of extending a specific commercial financing offer to that recipient, and shall obtain the recipient’s signature on the disclosure…
Citator
Cal. Fin. Code § 22802 — Commercial Financing Disclosures is in force in the current edition of the Code, and nothing recorded condemns it.
(a) A provider subject to this division shall disclose all of the information in subdivision (b) or in Section 22803, if applicable, to a recipient at the time of extending a specific commercial financing offer to that recipient, and shall obtain the recipient’s signature on the disclosure before consummating the commercial financing transaction.
(b) Except as provided in Section 22803, a provider subject to this division shall disclose all of the following:
(1) The total amount of funds provided.
(2) The total dollar cost of the financing.
(3) The term or estimated term.
(4) The method, frequency, and amount of payments.
(5) A description of prepayment policies.
(6) The total cost of the financing expressed as an annualized rate.