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2017 California Code
Financial Code - FIN
DIVISION 2 - SAVINGS ASSOCIATION LAW
CHAPTER 6 - Investment Operations
ARTICLE 5 - Investment in Loans
Section 7459.
Universal Citation: CA Fin Code § 7459 (2017)
7459.
In addition to establishing reserves pursuant to Section 6476, an association or federal association, as defined in Section 5102, may establish a separate loan reserve account regarding losses resulting from fraud by a borrower and may recover any of those losses from that borrower.
(Added by Stats. 1985, Ch. 656, Sec. 2.)
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