California · Financial Code
FIN §18222: An industrial loan company shall permit payment to be made in advance in any amount on any contract of loan at any time.
What this law says, in plain English
Industrial loan companies must allow borrowers to make advance payments of any amount on loan contracts at any time.
Read the full statutory text
An industrial loan company shall permit payment to be made in advance in any amount on any contract of loan at any time. The industrial loan company shall apply such payment first to all charges due up to the date of such payment and the remainder to the loan balance.
Verify at the official source: California legislative text
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This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.