Cal. Code Regs. Tit. 10, § 1539 - Expenses and Costs of Repossession or Sale: Expenses and Costs of Repairs

Except as provided by Section 22329(e)(5), expenses or costs of repossession or sale of property securing a loan shall be charged to or collected from a borrower, either directly or indirectly. No expenses or costs of repairs to such property shall be charged to or collected from a borrower, either directly or indirectly, except upon a written authorization from the borrower specifically authorizing such repairs and signed by the borrower after the repossession and prior to the making of the repairs. Nothing in this section shall be deemed to apply to a lien on property securing a loan, which existed prior to the date of repossession of such property and which resulted from some act of the borrower occurring prior to the date of such repossession. Nothing in this section shall be deemed to permit any charge other than charges permitted by law.

Notes

Cal. Code Regs. Tit. 10, § 1539
1. Amendment filed 12-29-83; effective thirtieth day thereafter (Register 83, No. 53).
2. Change without regulatory effect amending NOTE filed 6-14-95 pursuant to section 100, title 1, California Code of Regulations (Register 95, No. 24).
3. Amendment of section and NOTE filed 8-4-98; operative 9-3-98 (Register 98, No. 32).

Note: Authority cited: Section 22150, Financial Code. Reference: Sections 22150, 22156 and 22329, Financial Code.

1. Amendment filed 12-29-83; effective thirtieth day thereafter (Register 83, No. 53).
2. Change without regulatory effect amending Note filed 6-14-95 pursuant to section 100, title 1, California Code of Regulations (Register 95, No. 24).
3. Amendment of section and Note filed 8-4-98; operative 9-3-98 (Register 98, No. 32).

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