Current through the 2023 Legislative Session.
Section 8456 - Optional advance of funds used for construction costs(a) This section applies to a construction loan secured by a mortgage or deed of trust that has priority over a lien under this chapter.(b) An optional advance of funds by the construction lender that is used for construction costs has the same priority as a mandatory advance of funds by the construction lender, provided that the total of all advances does not exceed the amount of the original construction loan.Added by Stats 2010 ch 697 (SB 189),s 20, eff. 1/1/2011, op. 7/1/2012.