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

§ 12315

California Financial Code · 2018-11 edition · updated 2026-10-04 · California

A prorater shall not receive any fee unless he has the consent of at least 51 percent of the total amount of indebtedness and of the number of creditors listed in the prorater’s contract with the debtor, or such like number of creditors have accepted a distribution of payment.

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

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California Financial Code

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