California Code of Regulations
Title 10 - Investment
Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions
Subchapter 40 - Industrial Loans
Article 7 - Leases
Section 40.702 - Maximum Terms and Final Payment for Motor Vehicle Leases

Universal Citation: 10 CA Code of Regs 40.702

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

Each company shall annually submit, in duplicate, to the Commissioner for nondisapproval, a schedule of:

(a) The maximum term of a motor vehicle lease by make, model, year and cost; and

(b) The residual balance percentages it plans to use with an explanation of how they were developed, how they will be employed, and how frequently they will be revised.

1. Change without regulatory effect renumbering former section 1179.2 to new section 40.702 filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).

Note: Authority cited: Section 18347, Financial Code. Reference: Section 18314, Financial Code.

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