SECTIONS 21050-21051 - California Statutes

FINANCIAL CODE

SECTION 21050-21051

21050. This division does not apply to any of the following:
(a) Any corporation organized for the purpose of securing credit
from any federal intermediate credit bank organized and existing
pursuant to the provisions of an act of Congress entitled
"Agricultural Credits Act of 1923."
(b) Any nonprofit cooperative corporation or association with or
without capital stock, organized or existing pursuant to Chapter 1
(commencing with Section 54001) of Division 20 of the Food and
Agricultural Code.
(c) Any person, corporation, association, syndicate, joint stock
company, or partnership, engaged exclusively in the business of
marketing agricultural, horticultural, viticultural, dairy,
livestock, poultry, and bee products on a cooperative nonprofit
basis.

21051. (a) The limitations with respect to rates and charges set
forth in Sections 21200 and 21200.5 do not apply to any loan of a
bona fide principal amount of two thousand five hundred dollars
($2,500) or more if this section is not used for the purpose of
evading this division.
(b) In determining whether a loan is a loan of the principal
amount of two thousand five hundred dollars ($2,500), Section 22054
shall apply.