Cal. Fin. Code § 18269

Current through the 2023 Legislative Session.

Section 18269 - Limitation on loans secured primarily by improved real property

An industrial loan company that has investment certificates outstanding shall not make any loan secured primarily by improved real property in a principal amount in excess of 20 percent of the company's unimpaired capital stock and surplus not available for dividends as provided in Section 18319. An industrial loan company that has investment certificates outstanding shall not make any loan secured primarily by unimproved real property in a principal amount in excess of 10 percent of the company's unimpaired capital stock and surplus not available for dividends as provided in Section 18319.

Ca. Fin. Code § 18269

Amended by Stats. 1989, Ch. 663, Sec. 7. Operative January 1, 1991, by Sec. 20 of Ch. 663.