An association may, acquire, hold, sell, develop, subdivide, dispose of, and convey real and personal property consistent with its objects and powers. It may mortgage, pledge, or lease any real or personal property and may take the property by gift, devise, or bequest.
Cal. Fin. Code § 6502.5
General Powers
Known as the Savings Association Law
The act spans §§ 5000–10009 (387 sections).
Added by Stats. 1990, Ch. 1118, Sec. 31.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.