California Civil Code

§ 1921

CIV § 1921Div. 3 · Title 4 · Part 4 · Ch. 7.5

Statute text

(a)As used in this section:

(1)“Adjustable-rate residential mortgage loan” means any loan or credit sale which is primarily for personal, family, or household purposes which bears interest at a rate subject to change during the term of the loan, whether predetermined or otherwise, and which is made upon the security of real property containing not less than one nor more than four dwelling units.

(2)“Lender” means any person, association, corporation, partnership, limited partnership, or other business entity making, in any 12-month period, more than 10 loans or credit sales upon the security of residential real property containing not less than one nor more than four dwelling units.

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Legislative history

Amended by Stats. 1987, Ch. 56, Sec. 19.