Article 5. Finance Charge Limitation - California Civil Code Section 1805.7

1805.7.  All contracts entered into between a buyer and a seller on
or after January 1, 1983, shall provide for the calculation of the
finance charge contemplated by item (1) of subdivision (a) of Section
1805.1 on the simple-interest basis if the date on which the final
installment is due, according to the original terms of the contract,
is more than 62 months after the date of the contract.

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Last modified: February 16, 2015