California Codes, Business and Professions Code - BPC, Division 3 — Professions and Vocations Generally, Chapter 11 — Repossessors, Article 8 — Conduct of Business, Section 7507.4
A licensed repossession agency or its registrants shall not make demand for payment in lieu of repossession and shall not sell collateral recovered under this chapter.
Notes
Prohibits a licensed repossession agency and its registrants from demanding payment instead of repossessing collateral and from selling collateral recovered under the chapter. The prohibition applies both to the licensed agency itself and to its registrants, and covers the two specified practices involving payment demands and disposition of recovered collateral.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 7507.4 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-3/chapter-11/article-8/section-7507-4