California § 18635 - Whenever the interest or charges, or interest and charges deducted in advance exc
Full text of California Public Contract Code - PCC § 18635 — Whenever the interest or charges, or interest and charges deducted in advance exc, with citation guidance and answers to common questions.
§ 18635. Whenever the interest or charges, or interest and charges deducted in advance exc
Whenever the interest or charges, or interest and charges deducted in advance exceed the maximum provided by this division, by reason of subsequent repayment of the loan, a new loan, refinancing, or otherwise, or any portion thereof prior to maturity, such excess shall be rebated to the borrower or credited on any balance owing by the borrower to the company. The rebate shall be the difference between the total of the precomputed charge, any charge for extending the first due date, plus any default or deferment charges and the charges at the contract rate computed on unpaid principal balances for the number of days actually elapsed by applying each payment first to charges and the remainder to principal. The tender, by the borrower or at his request, of an amount equal to the unpaid balance less the required rebate must be accepted by the company in full payment of the loan contract.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 18635
What does Public Contract Code - PCC § 18635 cover?
Section 18635 ("Whenever the interest or charges, or interest and charges deducted in advance exc") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 18635?
A common citation format is "Public Contract Code - PCC § 18635" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 18635 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.