21200-21209
FINANCIAL CODE
SECTION 21200-21209
21200. (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) Two and one-half percent per month on that portion of the
unpaid principal balance of any loan up to, including, but not in
excess of two hundred twenty-five dollars ($225).
(2) Two percent per month on that portion of the unpaid principal
balance of the loan in excess of two hundred twenty-five dollars
($225) up to, including, but not exceeding nine hundred dollars
($900).
(3) One and one-half percent per month on that part of the unpaid
principal balance in excess of nine hundred dollars ($900) up to and
including, but not in excess of, one thousand six hundred fifty
dollars ($1,650).
(4) One percent per month on any remainder of the unpaid principal
balance in excess of one thousand six hundred fifty dollars
($1,650).
(5) A charge not exceeding three dollars ($3) a month on any loan
when the monthly charge permitted by this section would otherwise be
less than that minimum charge.
(b) One month's interest may be charged for any part of the month
in which pawned property is redeemed.
21200.1. A loan setup fee not to exceed five dollars ($5) or 2
percent, whichever is greater, may be charged for each loan. However,
the maximum loan setup fee shall not exceed ten dollars ($10). Loan
setup fees are in addition to any other allowed charges.
21200.5. A pawnbroker may charge as prescribed in the following
schedule:
Schedule of Charges
(a) A charge not exceeding one dollar ($1) may be made on any loan
for not more than 30 days which does not exceed fourteen dollars and
ninety-nine cents ($14. 99).
(b) A charge not exceeding three dollars ($3) may be made on any
loan for not more than 90 days of fifteen dollars ($15) or more, but
not exceeding nineteen dollars and ninety-nine cents ($19.99).
(c) A charge not exceeding four dollars ($4) may be made on any
loan for not more than 90 days of twenty dollars ($20) or more, but
not exceeding twenty-four dollars and ninety-nine cents ($24.99).
(d) A charge not exceeding five dollars ($5) may be made on any
loan for not more than 90 days of twenty-five dollars ($25) or more,
but not exceeding thirty-nine dollars and ninety-nine cents ($39.99).
(e) A charge not exceeding six dollars ($6) may be made on any
loan for not more than 90 days of forty dollars ($40) or more, but
not exceeding forty-nine dollars and ninety-nine cents ($49.99).
(f) A charge not exceeding seven dollars and fifty cents ($7.50)
may be made on any loan for not more than 90 days on any loan of
fifty dollars ($50) or more, but not exceeding sixty-four dollars and
ninety-nine cents ($64.99).
(g) A charge not exceeding eight dollars and fifty cents ($8.50)
may be made on any loan for not more than 90 days of sixty-five
dollars ($65) or more, but not exceeding seventy-four dollars and
ninety-nine cents ($74.99).
(h) A charge not exceeding ten dollars ($10) may be made on any
loan for not more than 90 days of seventy-five dollars ($75) or more,
but not exceeding ninety-nine dollars and ninety-nine cents
($99.99).
(i) A charge not exceeding twelve dollars and fifty cents ($12.50)
may be made on any loan for not more than 90 days of one hundred
dollars ($100) or more, but not exceeding one hundred twenty-four
dollars and ninety-nine cents ($124.99).
(j) A charge not exceeding thirteen dollars and fifty cents
($13.50) may be made on any loan for not more than 90 days of one
hundred twenty-five dollars ($125) or more, but not exceeding one
hundred forty-nine dollars and ninety-nine cents ($149.99).
(k) A charge not exceeding fifteen dollars ($15) may be made on
any loan for not more than 90 days of one hundred fifty dollars
($150) or more, but not exceeding two hundred twenty-four dollars and
ninety-nine cents ($224.99).
(l) A charge not exceeding twenty dollars ($20) may be made on any
loan for not more than 90 days of two hundred twenty-five dollars
($225) or more, but not exceeding three hundred twenty-four dollars
and ninety-nine cents ($324.99).
(m) A charge not exceeding twenty-five dollars ($25) may be made
on any loan for not more than 90 days of three hundred twenty-five
dollars ($325) or more, but not exceeding four hundred forty-nine
dollars and ninety-nine cents ($449.99).
(n) A charge not exceeding thirty-five dollars ($35) may be made
on any loan for not more than 90 days of four hundred fifty dollars
($450) or more, but not exceeding five hundred ninety-nine dollars
and ninety-nine cents ($599.99).
(o) A charge not exceeding forty-five dollars ($45) may be made on
any loan for not more than 90 days of six hundred dollars ($600) or
more, but not exceeding seven hundred ninety-nine dollars and
ninety-nine cents ($799.99).
(p) A charge not exceeding fifty-five dollars ($55) may be made on
any loan for not more than 90 days of eight hundred dollars ($800)
or more, but not exceeding nine hundred ninety-nine dollars and
ninety-nine cents ($999.99).
(q) A charge not exceeding seventy dollars ($70) may be made in
any loan for not more than 90 days of one thousand dollars ($1,000)
or more, but not exceeding eleven hundred ninety-nine dollars and
ninety-nine cents ($1,199.99).
(r) A charge not exceeding eighty-five dollars ($85) may be made
on any loan for not more than 90 days of twelve hundred dollars
($1,200) or more, but not exceeding fourteen hundred ninety-nine
dollars and ninety-nine cents ($1,499.99).
(s) A charge not exceeding one hundred dollars ($100) may be made
on any loan for not more than 90 days of fifteen hundred dollars
($1,500) or more, but not exceeding seventeen hundred ninety-nine
dollars and ninety-nine cents ($1,799.99).
(t) A charge not exceeding one hundred twenty dollars ($120) may
be made on any loan for not more than 90 days of eighteen hundred
dollars ($1,800) or more, but not exceeding two thousand ninety-nine
dollars and ninety-nine cents ($2,099.99).
(u) A charge not exceeding one hundred forty dollars ($140) may be
made on any loan for not more than 90 days of twenty-one hundred
dollars ($2,100) or more, but not exceeding twenty-four hundred
ninety-nine dollars and ninety-nine cents ($2,499.99).
(v) The charge for any extension or renewal of a loan covered by
this section shall be computed in accordance with the provisions of
Section 21200.
The schedule of charges prescribed by this section shall be posted
in a place clearly visible to the general public.
21200.6. (a) In addition to other allowed charges, at the time
property is redeemed a pawnbroker may collect a handling and storage
charge for certain pawned articles. Irrespective of the duration of
the loan, the maximum amount that may be charged pursuant to this
section is in accordance with the following schedule:
(1) Five dollars ($5) for any article that cannot be contained
within one cubic foot.
(2) Ten dollars ($10) for any article that cannot be contained
within three cubic feet.
(3) Twenty dollars ($20) for any article that cannot be contained
within six cubic feet and one dollar ($1) for each additional cubic
foot in excess of six cubic feet.
(b) No storage charge is allowed for any article that can be
contained within one cubic foot.
(c) For purposes of this section, cubic feet shall be determined
by multiplying the width of an article, at its greatest width, by the
depth of an article, at its greatest depth, by the height of an
article, at its greatest height.
21200.7. The maximum charge of compensation charged by a pawnbroker
pursuant to the authority of Section 21200 shall be posted in a
place clearly visible to the general public.
21200.8. In addition to other allowed charges, a pawnbroker may
collect a processing charge of four dollars ($4) for each firearm
pawned.
21200.9. No licensed pawnbroker shall promise any seller of
tangible personal property that the seller may repurchase property
sold to the pawnbroker.
21201. Every loan made by a pawnbroker for which goods are received
in pledge as security shall be evidenced by a written contract, a
copy of which shall be furnished to the borrower. The loan contract
shall provide a four-month loan period, shall set forth the loan
period and the date on which the loan is due and payable, and shall
clearly inform the borrower of his or her right to redeem the pledge
during the loan period.
Every loan contract shall contain the following notice, in at
least 8-point boldface type and circumscribed by a box, immediately
above the space for the borrower's signature:
"You may redeem the property you have pledged at any time until
the close of business on ____