Except as otherwise provided by the commissioner, an association shall not make or acquire total loans with respect to one borrower or on one project in an amount exceeding 25 percent of the net worth of the association. As used in this section, “one borrower” has the meaning defined in Section 7453.
Cal. Fin. Code § 7451
Investment in Loans
Known as the Savings Association Law
The act spans §§ 5000–10009 (387 sections).
Amended by Stats. 1990, Ch. 1118, Sec. 42.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.