Cal. Fin. Code § 31824

Current through the 2023 Legislative Session.

Section 31824 - Borrowing money prohibited

It shall be unlawful for any licensee or for any associate of a licensee, directly or indirectly, to borrow money from:

(a) Any person to which such licensee has provided, or has committed to provide, financing assistance;

(b) Any director of, officer of, or person who owns a 10 percent or greater equity interest in, any person referred to in subdivision (a); or

(c) Any close relative of any person referred to in subdivision (b).

Ca. Fin. Code § 31824

Added by Stats. 1977, Ch. 1164.