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2021 California Code
Financial Code - FIN
DIVISION 7 - INDUSTRIAL LOAN COMPANIES
CHAPTER 1 - General Provisions
ARTICLE 1 - Definitions
Section 18006.
Universal Citation: CA Fin Code § 18006 (2021)
18006.
“Primarily secured by real property”, as used in this division, means the fair market value of the real property less prior encumbrances, at the time the loan is made or other obligation is acquired, is more than 50 percent of the principal amount owing on the loan or obligation.
(Added by Stats. 1976, Ch. 964.)
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