Financial Code - FIN
DIVISION 3. CHECK SELLERS, BILL PAYERS, AND PRORATERS [12000 - 12404]
( Heading of Division 3 amended by Stats. 1992, Ch. 869, Sec. 1. ) CHAPTER 4. Licensee Regulations [12300 - 12332]
( Chapter 4 enacted by Stats. 1951, Ch. 364. ) 12320.
A prorater shall deliver a copy of any contract or agreement between the prorater and a debtor to the debtor immediately after the debtor executes it, and the debtor’s copy shall be executed by the prorater. A contract shall not be effective until a debtor has made a payment to the prorater for distribution to his creditors.
(Added by Stats. 1957, Ch. 498.)