There is a newer version
of
this Section
2019 California Code
Financial Code - FIN
DIVISION 7 - INDUSTRIAL LOAN COMPANIES
CHAPTER 3 - Loans and Purchased Obligations
ARTICLE 5 - Limitations and Regulations of Loans and Purchased Obligations
Section 18266.1.
Universal Citation: CA Fin Code § 18266.1 (2019)
18266.1.
An industrial loan company may make loans and acquire obligations, the proceeds of which are used for home improvements that are secured by real property having a market value of at least 100 percent of the principal amount owing on the loan being made by the industrial loan company or obligation being acquired by the industrial loan company and on prior encumbrances, except nondelinquent tax liens, secured by the same real property. Home improvements means additions, alterations, or modifications to owner-occupied property consisting of one to four dwelling units and appurtenant buildings thereto or to the real property containing same.
(Amended by Stats. 1998, Ch. 827, Sec. 12. Effective January 1, 1999.)
Disclaimer: These codes may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
