California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 6 - California Financing Law
Article 9 - Repossession and Sale of Personal Property
Section 1538 - Evidence of Fair Market Value
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
A finance company shall maintain in its records evidence that the fair market value of the property was obtained and credited to the account of the borrower. Such evidence shall be in the form of:
(a) A report or other record which describes the condition of the collateral at the time of repossession; and
(b) Any of the following:
1. Amendment
filed 12-29-83; effective thirtieth day thereafter (Register 83, No.
53).
2. Change without regulatory effect amending 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: Sections 22150 and 22156, Financial Code.