Cal. Fin. Code § 31409

Current through the 2023 Legislative Session.

Section 31409 - Securing obligation for benefit of other person

No licensee shall, except with the prior approval of the commissioner, provide a lien or security interest in any of its property for the purpose of securing an obligation of, or an obligation incurred for the benefit of, any other person.

Ca. Fin. Code § 31409

Amended by Stats. 1996, Ch. 1064, Sec. 660. Effective January 1, 1997. Operative July 1, 1997.