An association may make loans on the security of its savings accounts, whether or not the borrower is the owner of the account, subject to the limitations of this article.
Cal. Fin. Code § 7457
Investment in Loans
Known as the Savings Association Law
The act spans §§ 5000–10009 (387 sections).
Added by Stats. 1984, Ch. 868, Sec. 11.2.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.