California Business and Professions Code 7507.5 – No charge shall be made for services incurred in connection with the …
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No charge shall be made for services incurred in connection with the recovery, transportation, and storage of collateral except under terms agreed to by the legal owner at the time of the repossession authorization or specifically agreed upon at a subsequent time. Repair work, cleaning, or detailing shall not be performed and shall not be charged to the legal owner.
(Amended by Stats. 2015, Ch. 740, Sec. 4. (AB 281) Effective January 1, 2016.)
Terms Used In California Business and Professions Code 7507.5
- Collateral: means any specific vehicle, trailer, boat, recreational vehicle, motor home, appliance, or other property that is subject to a security agreement. See California Business and Professions Code 7500.1
- Legal owner: means a person holding any of the following:
California Business and Professions Code 7500.1
- Repossession: means any of the following:
California Business and Professions Code 7500.1
- Services: means any duty or labor to be rendered by one person for another. See California Business and Professions Code 7500.1