California CodesBusiness and Professions Code - BPCDivision 3 — Professions and Vocations GenerallyChapter 20 — Electronic and Appliance Repair DealersArticle 4.5 — Service ContractorsSection 9855.6
Where a service contractholder cancels a service contract in accordance with Section 1794.41 of the Civil Code and the refund due is not paid to the service contractholder or credited to his or her account within 30 days after the service contractor receives written notice of cancellation, the amount of the required refund or credit shall bear interest, payable to the service contractholder, at the rate of 10 percent per annum for each additional 30 days or fraction thereof.
Notes
Requires a service contractor to pay interest when a contractholder validly cancels under Section 1794.41 and the required refund is not paid or credited within 30 days after written cancellation notice. Sets interest at 10 percent per year for each additional 30-day period or fraction of a period.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 9855.6 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-3/chapter-20/article-4-5/section-9855-6