1. (a) No charges shall be received from a borrower subsequent to the making of a loan unless authorized by the Law, and specifically provided for in the original contract.
2. (b) All charges shall be clearly substantiated in the records of the finance company, and the borrower shall be provided with a detailed statement showing how the charges originated and the basis upon which the charges were calculated.

Note: Authority cited: Section 22150, Financial Code. Reference: Sections 22156, 22300, 22306 and 22326, Financial Code.

History

1. Amendment filed 12-29-83; effective thirtieth day thereafter (Register 83, No. 53).

2. Change without regulatory effect amending subsection (a) and Note filed 6-14-95 pursuant to section 100, title 1, California Code of Regulations (Register 95, No. 24).

3. Amendment of subsection (b) filed 8-4-98; operative 9-3-98 (Register 98, No. 32).