Leasing
Known as the Savings Association Law
The act spans §§ 5000–10009 (387 sections).
Added by renumbering Section 7700 by Stats. 1990, Ch. 216, Sec. 25.
(a) An association may invest in tangible personal property, including without limitation, vehicles, mobilehomes, machinery, equipment, or furniture, and may hold the property for rental or sale.
(b) Investment under this section is limited to not in excess of 10 percent of the total assets of the association.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.