California Civil Code

§ 1917.320

CIV § 1917.320Div. 3 · Title 4 · Part 4 · Ch. 7 · Art. 1

Statute text

For the purposes of this chapter:

(a)“Actual contingent interest” means the lender’s appreciation share of the net appreciated amount. In no event, however, shall the rate of appreciation upon which actual contingent interest is calculated at the end of the loan term exceed 212 times the rate at which projected contingent interest had been calculated.

(b)“Actual life expectancy” shall be calculated based upon actuarial tables for women only, regardless of the sex of the borrower, and acceptable to both the state and the insurance industry.

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Legislative history

Amended by Stats. 1988, Ch. 1406, Sec. 1.