Before the execution of a contract or agreement between the consumer and a credit services organization, the credit services organization shall provide the consumer a statement in writing containing all the information required by Section 1789.15. The credit services organization shall maintain on file for a period of four years following the completion or termination of the credit services organization agreement with the consumer an exact copy of the statement.

(Amended by Stats. 2022, Ch. 965, Sec. 6. (AB 2424) Effective January 1, 2023.)

Terms Used In California Civil Code 1789.14

  • Consumer: means any natural person who is solicited to purchase or who purchases the services of a credit services organization. See California Civil Code 1789.12
  • Contract: A legal written agreement that becomes binding when signed.
  • Credit services organization: means a person who, with respect to the extension of credit by others, sells, provides, or performs, or represents that the person can or will sell, provide, or perform, any of the following services, in return for the payment of money or other valuable consideration:

    California Civil Code 1789.12

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