The trustee has the power to borrow money for any trust purpose to be repaid from trust property. The lender may include, but is not limited to, a bank holding company, affiliate, or subsidiary of the trustee.
Cal. Prob. Code § 16241
Specific Powers of Trustees
Known as the Trust Law
The act spans §§ 15000–19403 (351 sections).
Enacted by Stats. 1990, Ch. 79.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.