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2019 California Code
Financial Code - FIN
DIVISION 15 - BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS
CHAPTER 6 - Transaction of Business
Section 31409.
Universal Citation: CA Fin Code § 31409 (2019)
31409.
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.
(Amended by Stats. 1996, Ch. 1064, Sec. 660. Effective January 1, 1997. Operative July 1, 1997.)
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