Sections
5 entriesSection 1799.300Defines terms governing commercial-financing brokers and providers, including automated clearinghouse, broker, provider, recipient, referral, and small business. Defines a recipient as a…Section 1799.301Exempts depository institutions, federal Farm Credit Act lenders, real-property-secured commercial financing, persons making no more than one California commercial financing transaction in…Section 1799.302Prohibits covered entities from charging small businesses specified commercial-financing fees, including routine ACH-processing, payoff-document, unsupported add-on, collateral-monitoring, and excessive lien fees. Allows…Section 1799.303Allows a recipient harmed by a covered entity’s violation of the referenced commercial-financing rule to recover actual damages, $500 to $2,500 in…Section 1799.304Prohibits enforcement of any waiver of the title’s provisions by declaring such a waiver contrary to public policy, void, and unenforceable. Bars…