This law defines what an 'open-end credit program' is within this financial context. It refers to a credit plan where a licensee extends loans to a borrower according to a set agreement.

A borrower can use these loans to pay for various purposes, such as obtaining money, goods, or services. Each loan advance, along with allowed charges, is recorded in an account. Interest or charges are calculated based on the unpaid balance in the borrower's account, not including unpaid charges except specific allowed fees.

Importantly, borrowers can choose to pay off their total account balance at any time.

This law states that if a revolving credit program is not mainly used for buying or leasing goods or services from the business offering it, then all credit transactions made through that program must follow the rules in this division. This includes any purchases or leases from the business itself that are made using the program.

This law allows a licensed lender to offer open-end loans, like credit lines, provided they get written approval from a commissioner who ensures that the business plan is neither misleading nor deceptive. The lender can charge interest as allowed by other related sections, and there are two ways to calculate the interest: using either the actual daily unpaid balance or the average daily unpaid balance during the monthly billing cycle. The cycle must be monthly, meaning it closes on a consistent date each month. However, this section doesn't apply to loans of $10,000 or more, as defined by another section.

The law outlines how to calculate the minimum monthly payment on a loan. There are three methods:

(a) Multiply the unpaid principal balance, including any recent loan advances, by a percentage agreed upon by the borrower and lender, not less than 2.5%. This amount stays the same until another loan advance is made.

(b) Multiply the unpaid balance at the end of each billing cycle by an agreed-upon percentage, not less than 5%.

(c) Agree on a bona fide amount that covers all charges and some principal due.

This rule doesn't apply to open-end loans of $10,000 or more.

This law section explains that for open-end loans, lenders can charge the same types of fees, costs, and financial expenses allowed for other loans. However, if the loan includes credit insurance, the cost must be calculated and charged on a monthly basis, matching the insurance's premium rate.

This rule doesn't apply to open-end loans over $10,000, based on certain criteria.

This law allows lenders to offer credit insurance on open-end loans with the borrower's agreement. The insurance must be approved by the Insurance Commissioner and shouldn't exceed the loan amount. If a borrower with life insurance dies during the loan term, the insurance must completely pay off any outstanding loan. Similarly, if a borrower with disability insurance becomes disabled, the insurance must cover the remaining loan balance during their disability. For those with loss-of-income insurance, the coverage will pay the loan if the borrower becomes unemployed. Credit insurance becomes active once the loan is issued or the borrower agrees to the coverage. The lender cannot cancel this insurance unless the borrower is more than 90 days late on payments. This rule does not apply to loans of $10,000 or more.

This law discusses how open-end loans should be handled to comply with Section 22309. When a borrower receives a loan advance, the lender must give them an amount equal to the advance's face value. If the loan advance goes to pay a third party for goods or services the borrower received, the lender must pay enough to cover the borrower's obligation. This section doesn't apply if the loan is for $10,000 or more.

This law says that instead of following a previous section, open-end loan agreements must include certain specific details. These details are the lender's name, address, license number, what collateral (or security) is involved, how minimum payments on the loan are calculated for the initial and any future amounts borrowed, and the interest rate charged.

This law requires lenders to send borrowers a statement for each billing period if there's an outstanding balance on an open-end loan or if a finance charge has been added. The statement must include the balance at the start and end of the cycle, any advances made, payments received, finance charges, and other relevant account details. If the loan's security has changed, this must also be noted in the statement.

This law means that if there's an open-end loan, and you don't owe any money on it, a certain restriction from another law (Subdivision (e) of Section 22337) won't apply, as long as the loan agreement is still active.

This section states that if the terms of an open-end loan (like a credit card) are changed, the requirements in Section 22333 do not apply as long as the borrower is properly notified according to specific federal rules.

This section states that certain regulatory requirements do not apply to lenders when they extend credit through an open-end credit program. Essentially, if you're a licensed lender offering open-end credit, you might be exempt from some specific rules and regulations mentioned in other sections.

This law states that if you pay fees to take part in an open-end credit program, accept the lender's terms, and agree to their program, it won't be considered as buying or selling something additional on the side.

This law section clarifies that the commissioner always has the power to reject advertising for open-end loans, as outlined in another law (Section 22165), regardless of anything else in this article.

This law is only relevant to open-end loans and does not concern any other types of loans.

This section clarifies that the regulations specified in Section 22400 are not relevant to open-end loans, which are loans that don't have a fixed end date and allow you to borrow flexibly.

This law states that an open-end loan follows the rules of another specific law (Section 22330) if the loan has a genuine principal amount of $5,000 or more, which is calculated by the guidelines in Section 22467.

This section explains when certain rules do not apply to open-end loans that are at or above a specific principal amount. If a finance lender issues an open-end loan meeting this amount, those rules can be bypassed, provided there's no intent to dodge the law. To qualify, both the credit line and the initial advance must be equal to or more than the specified principal amount. Even if later loan amounts are less, they still count if the original criteria were met. For unsecured loans, it's the total credit line that needs to meet the specified principal amount, not the individual loan amounts. Importantly, section 22251's rules about regulatory ceilings also apply here.