Added by Stats. 2018, Ch. 1011, Sec. 2. (SB 1235) Effective January 1, 2019.
This division does not apply to any of the following:
(a)A provider that is a depository institution.
(b)A provider that is a lender regulated under the federal Farm Credit Act (12 U.S.C. Sec. 2001 et seq.).
(c)A commercial financing transaction secured by real property.
(d)A commercial financing transaction in which the recipient is a dealer, as defined by Section 285 of the Vehicle Code, or an affiliate of such a dealer, or a vehicle rental company, or an affiliate of such a company, pursuant to a specific commercial financing offer or commercial open-end credit plan
of at least fifty thousand dollars ($50,000), including any commercial loan made pursuant to such a commercial financing transaction.
(e)Any person who makes no more than one commercial financing transaction in California in a 12-month period or any person who makes five or fewer commercial financing transactions in California in a 12-month period that are incidental to the business of the person relying upon the exemption.
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