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HomeMilitary and Veterans CodeDiv. 4Ch. 3§ 804 Reservist Loan Payment Deferral

§ 804 Reservist Loan Payment Deferral

Military and Veterans Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 804 Reservist Loan Payment Deferral

This law lets reservists pause their loan payments while they're on active duty. They won't get charged extra fees or interest during this time, and their stuff can't be taken away for not paying.

Key Takeaways

  • •Reservists can pause loan payments during active duty.
  • •No extra fees or interest can be added during this pause.
  • •Banks can't take property (like cars or houses) for not paying during this time.

Example

A reservist gets called to active duty and can't pay their car loan.

The bank can't charge extra fees or take the car away while they're serving. They also can't add more interest to the loan during this time.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 804 Reservist Loan Payment Deferral

During the period specified in Section 800, the reservist may defer the payment of principal and interest on the specified obligations. No penalties shall be imposed on the nonpayment of principal or interest during this period. No interest shall be charged or accumulated on the principal or interest on which the payment was delayed. No foreclosure or repossession of property shall take place during the period of deferment unless otherwise ordered by a court or agreed to by the parties to the obligation. (Amended by Stats. 2022, Ch. 620, Sec. 10. (SB 1311) Effective January 1, 2023.)

Last verified: January 11, 2026

Key Terms

reservistdeferprincipal and interestforeclosurerepossession

Related Statutes

  • § 800 Reservist Payment Deferral Rights
  • § 801 Reservist Mortgage Protection Definition
  • § 802 Reservist Mortgage Impound Payments
  • § 806 Reservist Health Coverage Reinstatement
  • § 808 Reservist Vehicle Lease Deferral

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Military and Veterans Code. Section 804.
View Official Source