Under California's Article XV, which of the following transactions is NOT exempt from the constitutional usury limit?
Correct Answer
D) A private consumer loan made by an individual who is not acting through an exempt lender or licensed real estate broker arrangement
California usury exemptions include specified regulated institutions and real-estate-secured loans made or arranged by licensed real estate brokers. A private individual making a consumer loan outside an exemption remains the best non-exempt example in these choices.
Why This Is the Correct Answer
California usury exemptions include specified regulated institutions and real-estate-secured loans made or arranged by licensed real estate brokers. A private individual making a consumer loan outside an exemption remains the best non-exempt example in these choices.
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