California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 6 - California Financing Law
Article 4 - Loans
Section 1453 - "Ballooning" Prohibited

Universal Citation: 10 CA Code of Regs 1453
Current through Register 2024 Notice Reg. No. 38, September 20, 2024

Any so-called "ballooning" of loan contracts is prohibited. Any scheduled installment that is more than twice the amount of any other scheduled installment will be considered a balloon payment for purposes of this section and Section 22307 of the Financial Code. This section shall not be construed to apply to open end loans.

1. Amendment filed 12-29-83; effective thirtieth day thereafter (Register 83, No. 53).
2. Change without regulatory effect amending section and NOTE filed 6-14-95 pursuant to section 100, title 1, California Code of Regulations (Register 95, No. 24).

Note: Authority cited: Section 22150, Financial Code. Reference: Section 22307, Financial Code.

Disclaimer: These regulations may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.