§ 21200
81 words·~1 min read·
/ca/financial-code/21200A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Except as otherwise provided in this chapter, no pawnbroker shall charge or receive compensation at a rate exceeding the sum of the following:
(1)Three percent per month on the unpaid principal balance of any loan.
(2)A charge not exceeding three dollars ($3) a month on any loan when the monthly charge permitted by paragraph
(1)would otherwise be less.
(b)One month’s interest may be charged for any part of the month in which pawned property is redeemed.