Cal. Fin. Code § 21200
Pawnbroker Regulations
Redline — January 1, 2011 → current.View current text →
Current — January 1, 2015
As of January 1, 2011
(a) Except as otherwise provided in this chapter, no pawnbroker shall charge or receive compensation at a rate exceeding the sum of the following: (1) Two and one-half percent per month on the unpaid principal balance of any loan. (2) A charge not exceeding three dollars ($3) a month on any loan when the monthly charge permitted by paragraph (1) would otherwise be less.
(a) Except as otherwise provided in this chapter, no pawnbroker shall charge or receive compensation at a rate exceeding the sum of the following: (1) Three percent per month on the unpaid principal balance of any loan. (2) A charge not exceeding three dollars ($3) a month on any loan when the monthly charge permitted by paragraph (1) would otherwise be less.
(b) One month’s interest may be charged for any part of the month in which pawned property is redeemed.
(b) One month’s interest may be charged for any part of the month in which pawned property is redeemed.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.