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2017 California Code
Financial Code - FIN
DIVISION 7 - INDUSTRIAL LOAN COMPANIES
CHAPTER 7 - Guarantee of Thrift Accounts
ARTICLE 3 - Purpose and Scope of Guaranty Corporation
Section 18525.
Universal Citation: CA Fin Code § 18525 (2017)
18525.
Notwithstanding any other provision of this division, Guaranty Corporation, with the written consent of the commissioner, shall have the power to assume obligations, enter into contracts, including contracts of guarantee or suretyship, incur liabilities, borrow money, lend money or otherwise use its credit, and secure any of its obligations, contracts, or liabilities by mortgage, pledge, security interest, or other encumbrances of all or any part of its property and assets, including, but not limited to, income from assessments of members or rights thereto, and income.
(Amended by Stats. 1985, Ch. 142, Sec. 34. Effective July 1, 1985.)
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