Cal. Fin. Code § 12315

Current through the 2023 Legislative Session.

Section 12315 - Consent required for receipt of fee by prorater

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.

Ca. Fin. Code § 12315

Added by Stats. 1957, Ch. 498.