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Section 14960 Of Article 1. General From California Financial Code >> Division 5. >> Chapter 7. >> Article 1.
14960
. (a) Any credit union that makes a refund anticipation loan
to a covered borrower, as defined in Section 232 of Title 32 of the
Code of Federal Regulations, as published on August 31, 2007, in
Volume 72 of the Federal Register, shall comply with the provisions
of Section 670 of Public Law 109-364 and Section 232 of Title 32 of
the Code of Federal Regulations, as published on August 31, 2007, in
Volume 72 of the Federal Register pertaining to refund anticipation
loans.
(b) With respect to any refund anticipation loan covered by Section 670 of Public Law 109-364 and Section 232 of Title 32 of the Code of Federal Regulations, as published on August 31, 2007, in Volume 72 of the Federal Register, a person that does not market or extend those loans to covered borrowers shall not be in violation of Section 394 of the Military and Veterans Code.
(b) With respect to any refund anticipation loan covered by Section 670 of Public Law 109-364 and Section 232 of Title 32 of the Code of Federal Regulations, as published on August 31, 2007, in Volume 72 of the Federal Register, a person that does not market or extend those loans to covered borrowers shall not be in violation of Section 394 of the Military and Veterans Code.
