Section 30.901 - Valuation or Appraisal of Personal and Real Property Security(a) A credit union shall itself value or obtain an appraisal of personal property offered as security for an obligation in accordance with a written appraisal policy approved by the board of directors.(b) A credit union shall obtain a valuation or an appraisal of real property offered as security for an obligation in accordance with Part 722 of the regulations of the National Credit Union Administration ( 12 C.F.R. Part 722).Cal. Code Regs. Tit. 10, § 30.901
1. Change without regulatory effect renumbering former section 986 to new section 30.901 filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).
2. Amendment of section heading, section and NOTE filed 2-27-2003; operative 3-29-2003 (Register 2003, No. 9). Note: Authority cited: Section 14201, Financial Code. Reference: Sections 14950 and 14953, Financial Code; and Part 722 (commencing with Section 722.1), Title 12, Code of Federal Regulations.
1. Change without regulatory effect renumbering former section 986 to new section 30.901 filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).
2. Amendment of section heading, section and Note filed 2-27-2003; operative 3-29-2003 (Register 2003, No. 9).