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2017 California Code
Civil Code - CIV
DIVISION 4 - GENERAL PROVISIONS
PART 5 - Common Interest Developments
CHAPTER 8 - Assessments and Assessment Collection
ARTICLE 3 - Assessment Collection
Section 5735.
Universal Citation: CA Civ Code § 5735 (2017)
5735.
(a) An association may not voluntarily assign or pledge the association’s right to collect payments or assessments, or to enforce or foreclose a lien to a third party, except when the assignment or pledge is made to a financial institution or lender chartered or licensed under federal or state law, when acting within the scope of that charter or license, as security for a loan obtained by the association.
(b) Nothing in subdivision (a) restricts the right or ability of an association to assign any unpaid obligations of a former member to a third party for purposes of collection.
(Added by Stats. 2012, Ch. 180, Sec. 2. (AB 805) Effective January 1, 2013. Operative January 1, 2014, by Sec. 3 of Ch. 180.)
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