0 chapters · 2,290 sections in this title.
Fin. Code § 7268 Section 7268
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(a) Notes with a maturity not exceeding 15 months after the date of issue, issued in anticipation of uncollected taxes, income, revenue, cash receipts, and other moneys of the State of California or any city, county, city and county, or school district, therefore, provided the no…
Fin. Code § 7269 Section 7269
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In revenue securities of any state of the United States, or of the Commonwealth of Puerto Rico, and of any city, county, city and county, political subdivision, public corporation, or district (herein referred to generally as public corporations) of any such state or commonwealth…
Fin. Code § 7270 Section 7270
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Bonds of any local public housing agency (as defined in the United States Housing Act of 1937, as amended) as are secured either, (a) by an agreement between the public housing agency and the Public Housing Administration in which the public housing agency agrees to borrow from t…
Fin. Code § 7271 Section 7271
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Bonds secured by an insurance commitment of the Federal Housing Administration.
Fin. Code § 7272 Section 7272
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Evidences of indebtedness of companies incorporated in the United States and, directly or indirectly, engaged in manufacturing, extraction, merchandising, or commercial financing and in bonds of authorities established pursuant to the California Industrial Development Financing A…
Fin. Code § 7273 Section 7273
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Fixed interest railroad bonds meeting the requirements of subdivisions (a) and (b), bonds secured by a mortgage on jointly operated railroad facilities meeting the requirements of subdivision (c), and railroad equipment trust certificates meeting the requirements of subdivision (…
Fin. Code § 7274 Section 7274
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Bonds and debentures of gas, electric, or gas and electric companies meeting the requirements of subdivision (a), bonds and debentures of telephone companies meeting the requirements of subdivision (b), and the bonds and debentures of water companies meeting the requirements of s…
Fin. Code § 7275 Section 7275
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As used in this article, “funded debt” means all interest-bearing indebtedness of a corporation not maturing within one year of the date it was incurred.
Fin. Code § 7300 Section 7300
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(a) Each association shall have power to invest in real property, tangible personal property and interests in real property for the conduct of the business of the association, or its service corporation, which power shall include the ownership of stock of a wholly owned subsidiar…
Fin. Code § 7350 Section 7350
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(a) An association may acquire and hold stock of one or more corporations the primary activities of which are engaging in real property investment, in which event the sum of (1) investments made by an association pursuant to the authority of this subdivision, (2) any loans and gu…
Fin. Code § 7450 Section 7450
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(a) An association may make any loan authorized by this division, but the association shall first determine that the type, amount, purpose, and repayment provisions of the loan in relation to the borrower’s resources and credit standing support the reasonable belief that the loan…
Fin. Code § 7450.2 Section 7450.2
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Except with the prior written consent of the commissioner, no association shall knowingly make: (a) Any loan to any corporation of which 10 percent or more of the stock is owned or controlled individually or collectively by any one or more of the directors, officers, employees, o…
Fin. Code § 7451 Section 7451
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Except as otherwise provided by the commissioner, an association shall not make or acquire total loans with respect to one borrower or on one project in an amount exceeding 25 percent of the net worth of the association. As used in this section, “one borrower” has the meaning def…
Fin. Code § 7452 Section 7452
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(a) An association may make consumer loans, provided that the total of such loans shall not exceed 30-percent of the assets of the association. (b) An association may include loans to dealers in consumer goods to finance inventory and floor planning in the total investment as par…
Fin. Code § 7453 Section 7453
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(a) An association may make, invest in, sell, purchase, participate in, or otherwise deal in secured or unsecured loans for agricultural, business, commercial, or corporate purposes, provided that the total investment in such loans does not exceed 10 percent of the assets of the …
Fin. Code § 7454 Section 7454
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Each association is authorized to issue credit cards, extend credit in connection with the cards, and otherwise engage in or participate in credit card operations. The provisions of Title 2 (commencing with Section 1801) of the Civil Code shall not apply to any credit extended by…
Fin. Code § 7455 Section 7455
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No association or director, officer, or employee of an association shall require, as a condition to the granting of any loan or the extension of any other service by the association, that the borrower or any other person undertake a contract of insurance with any specific company…
Fin. Code § 7456 Section 7456
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Any loan commitment made by an association shall be counted as an investment and shall be included in total assets of the association only to the extent that funds have been advanced (and not repaid) pursuant to the commitment. For the purposes of this section, the term “loan com…
Fin. Code § 7457 Section 7457
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An association may make loans on the security of its savings accounts, whether or not the borrower is the owner of the account, subject to the limitations of this article.
Fin. Code § 7458 Section 7458
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An association may make overdraft loans specifically related to transaction accounts, subject to regulations issued by the commissioner.
Fin. Code § 7459 Section 7459
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In addition to establishing reserves pursuant to Section 6476, an association or federal association, as defined in Section 5102, may establish a separate loan reserve account regarding losses resulting from fraud by a borrower and may recover any of those losses from that borrow…
Fin. Code § 7460 Section 7460
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(a) Notwithstanding Section 726 of the Code of Civil Procedure or any other provision of law to the contrary, an association, a federal association, an affiliate of an association or federal association, a service corporation, or any successor in interest thereto, that originates…
Fin. Code § 7461 Section 7461
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The provisions of any deed of trust or mortgage on real property which authorize an association, federal association, affiliate or service corporation of an association or federal association, or any successor in interest thereto, to accelerate the maturity date of the principal …
Fin. Code § 7462 Section 7462
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The provisions of any deed of trust or mortgage on real property which authorize an association, federal association, affiliate or service corporation of an association or federal association, or any successor in interest thereto, to receive and control the disbursement of the pr…
Fin. Code § 7500 Section 7500
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(a) Subject to limitations, if any, within this chapter, an association may originate, invest in, sell, purchase, service, participate, or otherwise deal in (including brokerage or warehousing) loans, including construction loans, made on the security of residential or nonresiden…
Fin. Code § 7501 Section 7501
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Each real estate loan shall be evidenced by a note or instrument of obligation for the amount of the loan. The note or instrument shall specify the amount and terms of repayment including any penalty or charge for late payment, and may contain all other terms of the loan contract…
Fin. Code § 7502 Section 7502
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(a) Each real estate loan shall be secured by a deed of trust, mortgage, or other transaction or instrument constituting a lien or claim, or its equivalent, upon the real estate securing the loan, according to any lawful and recognized practice that is suited to the transaction. …
Fin. Code § 7503 Section 7503
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Except as specified by the loan contract or by Section 2954.8 of the Civil Code, an association shall have no obligation to pay interest to the borrower upon funds credited to an impound, trust, or other type of account for payment of taxes, insurance, or other charges relating t…
Fin. Code § 7504 Section 7504
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Notwithstanding any other provision of law, an association may adjust the interest rate, payment, balance, or term-to-maturity on any loan secured by real property as authorized by the loan contract, and may receive a portion of the consideration for making a real estate loan in …
Fin. Code § 7505 Section 7505
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(a) Notwithstanding any other provision of law, an association may originate, invest in, sell, purchase, service, participate, or otherwise deal in loans (including construction loans) on the security of real property for primarily residential (other than a one- to four-unit dwel…
Fin. Code § 7505.5 Section 7505.5
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(a) A savings association may make loans the principal purpose of which is to provide financing with respect to what is, or what is to become, primarily residential real estate, for which the association relies substantially on the borrower’s general credit standing and projected…
Fin. Code § 7506 Section 7506
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Notwithstanding any other provision of the law, an association may make a loan secured by an assignment of a loan or loans to the extent that it could, under applicable law and regulations, make or purchase the underlying assigned loan or loans.
Fin. Code § 7507 Section 7507
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(a) An association may make loans or advances of credit, or invest in interests therein, on the security of real property, which loans, advances of credit, or investments are not otherwise authorized under the law because of the following reasons: (1) The loan-to-value ratio, sta…
Fin. Code § 7509 Section 7509
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(a) (1) At the time of origination, a real estate loan may not exceed 100 percent of the market value of security property. An association shall, by vote of its board of directors, establish maximum loan-to-value ratios for loans made on the security of real estate, and the resol…
Fin. Code § 7600 Section 7600
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In the case of any investment made by an association in a real estate loan, in the event all or part of the ownership of the real estate security becomes vested in a person other than the party or parties originally executing the security instruments and if there is not an agreem…
Fin. Code § 7650 Section 7650
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(a) Except as provided in subdivision (b), nothing in this division or the laws of this state shall be construed as denying to an association the right to invest its funds, operate a business, manage or deal in property, or take any other action over whatever period of time may r…
Fin. Code § 7675 Section 7675
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(a) Pursuant to the authority contained in Section 1 of Article XV of the California Constitution, the restrictions upon rates of interest contained in Section 1 of Article XV of the California Constitution shall not apply to any obligations of, loans made or arranged by, or forb…
Fin. Code § 7700.3 Section 7700.3
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An association may engage in leasing activities that are the functional equivalent of lending, subject to the limitations of Sections 7701 to 7704, inclusive.
Fin. Code § 7701 Section 7701
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An association may become the legal or beneficial owner of tangible personal property or real property for the purpose of leasing such property, may obtain an assignment of a lessor’s interest in a lease of such property, and may incur obligations incidental to its position as th…
Fin. Code § 7702 Section 7702
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(a) A lease of tangible personal property made to a natural person for personal, family, or household purposes pursuant to this section shall be subject to all limitations applicable to the amount of an association’s investment in consumer loans. (b) A lease made for commercial, …
Fin. Code § 7703 Section 7703
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For the purposes of this article: (a) A “net lease” is a lease under which the association will not, directly or indirectly, provide or be obligated to provide for: (1) The servicing, repair, or maintenance of the leased property during the lease term. (2) The purchasing of parts…
Fin. Code § 7704 Section 7704
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If, in good faith, an association believes that there has been an unanticipated change in conditions that threatens its financial position by significantly increasing its exposure to loss, the provisions of Sections 7702 and 7703 of this article shall not prevent the association:…
Fin. Code § 7720 Section 7720
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(a) An association may invest in tangible personal property, including without limitation, vehicles, mobilehomes, machinery, equipment, or furniture, and may hold the property for rental or sale. (b) Investment under this section is limited to not in excess of 10 percent of the t…
Fin. Code § 7800 Section 7800
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Subject to the provisions of Section 2955.5 of the Civil Code, the board of directors of every association and affiliate or service corporation of an association shall establish standards for the maintenance of hazard insurance which are considered necessary to protect the instit…