An industrial loan company may require the borrower to sign a contract of pledge, assignment, mortgage, security agreement, deed of trust, or trust receipt relating to real or personal property given by the borrower as security for the repayment of the loan and interest and charges thereon.
Cal. Fin. Code § 18270
Limitations and Regulations of Loans and Purchased Obligations
Known as the Industrial Loan Law
The act spans §§ 18000–18707 (410 sections).
Added by Stats. 1976, Ch. 964.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.