Cal. Code Regs. tit. 10 § 1789.6

Current through Register 2024 Notice Reg. No. 45, November 8, 2024

Section 1789.6 - Statements of Account

A licensee engaged in the business of prorating, upon closing an account shall immediately render to the customer a statement in writing showing the following:

(1) Total funds received by the prorater from or on behalf of the customer.

(2) Total disbursements made to each of the customer's creditors by the prorater.

(3) The total amount which any creditor has agreed to accept as payment in full on any debt owed him by the debtor.

(4) Amount and type of charges paid to the prorater by the debtor.

(5) Balance of customer's account at the closing of the account.

(6) That all funds held in the customer's account have been returned to the customer.

Cal. Code Regs. Tit. 10, § 1789.6

1. New section filed 3-27-52; effective thirtieth day thereafter (Register 28, No. 1).
2. Amendment filed 1-22-74; effective thirtieth day thereafter (Register 74, No. 4).
3. Amendment filed 8-9-83; effective thirtieth day thereafter (Register 83, No. 33).

Note: Authority cited: Section 12300, Financial Code. Reference: Sections 12300.3, 12314, 12314.1 and 12316, Financial Code.