(a) § 1670.5 of the Civil Code applies to the provisions of a loan contract that is subject to this division.

(b) A loan found to be unconscionable pursuant to § 1670.5 of the Civil Code shall be deemed to be in violation of this division and subject to the remedies specified in this division.

Terms Used In California Financial Code 22302

  • Contract: A legal written agreement that becomes binding when signed.

(Added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)