California Loan Agreement PDF
California at a glance: Usury Cap (Non-Exempt): 10% per year (Cal. Const. Art. XV § 1) · Collateral Foreclosure: Requires compliance with UCC Article 9 · Governing Law: California Civil Code
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Loan Agreements in California
California loan agreements are subject to the California Constitution (Article XV, Section 1) usury limits. For personal, family, or household loans, the interest rate is capped at 10% per annum.
Certain licensed lenders, bank loans, and real-estate broker-secured transactions are exempt from this usury limit.
California Loan Agreement — Quick Reference
| Requirement | California Rule |
|---|---|
| Usury Cap (Non-Exempt) | 10% per year (Cal. Const. Art. XV § 1) |
| Collateral Foreclosure | Requires compliance with UCC Article 9 |
| Governing Law | California Civil Code |
California Legal Requirements
- Interest rate must not exceed 10% per annum unless a statutory exemption is met.
- Late fees must be a reasonable estimate of actual damages (liquidated damages rules).
California Governing Laws
Read the full text of these laws at Cornell Law School's California legal resources or your state legislature's official website.