Mortgages made by the agency under authority of this chapter shall be secured by a first deed of trust, or by a deed of trust junior to a first deed of trust if it is necessary to accomplish the purposes of this chapter. Except as otherwise specified in this chapter, the principal amount of, and the conditions of mortgage loans, shall be determined by the board.
Cal. Health & Safety Code § 51481
Multifamily Housing
Known as the Zenovich-Moscone-Chacon Housing and Home Finance Act
The act spans §§ 50000–54913 (995 sections).
Added by Stats. 1990, Ch. 577, Sec. 1
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.