California Financial Code

§ 1480

FIN § 1480 Effective Jan 1, 2012Div. 1.1 · Ch. 14 · Art. 3

For the purpose of this article:

(a)“Obligations” means the total sums for the payment of which a person is obligated, primarily or secondarily, to a commercial bank.

(b)Obligations of a person include obligations of others to a commercial bank arising out of loans made by the bank for the benefit of the person.

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Legislative history

Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.