An industrial loan company shall not induce any spouses, jointly or severally, to become obligated, directly or contingently or both, under more than one contract of loan at the same time, with the result of obtaining a higher rate of charge than would otherwise be permitted by this division.
(Amended by Stats. 2016, Ch. 50, Sec. 38. (SB 1005) Effective January 1, 2017.)