§ 21.15.2009. Pay day loans.

Latest version.

"Pay day loans" offer a transaction whereby a person defers depositing a customer's personal check until a specific date, pursuant to a written agreement, as provided by California Financial Code Section 23035. Personal check includes the electronic equivalent of a personal check. Pay day loan (Deferred Deposit) businesses are regulated by the State of California, Department of Corporations, and do not include consumer loans or commercial loans.

( ORD-13-0018 § 16, 2013)

                    
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