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Earlier editions: 2020-112018-11

DIVISION 3. CHECK SELLERS, BILL PAYERS, AND PRORATERS 12000-12404›CHAPTER 4. Licensee Regulations 12300-12332

§ 12318

California Financial Code · 2026 edition · updated 2026-10-04 · California

A prorater shall not take:

(a) Any contract, promise to pay, or other instrument which has any blank spaces when signed by a debtor;

(b) Any negotiable instrument for the prorater’s charges;

(c) Any note, wage assignment, real estate or chattel mortgage, or other security to secure the prorater’s charges;

(d) Any confession of judgment or power of attorney to confess judgment against the debtor or to appear for the debtor in a judicial proceeding.

(e) Concurrent with the signing of the contract or as part of the contract or as part of the application for the contract a release of any obligation to be performed on the part of the prorater.

(Added by Stats. 1957, Ch. 498.)

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