California Financial Code

§ 1485

FIN § 1485 Effective Jan 1, 2014Div. 1.1 · Ch. 14 · Art. 3

Statute text

The limitations of Section 1481 shall not apply to the following and the following shall not be included among the obligations of a person for the purpose of applying these limitations:

(a)Loans secured by obligations of the United States or by obligations unconditionally guaranteed both as to principal and interest by the United States, having a market value at least 10 percent in excess of the loans secured thereby.

(b)Loans in an amount and of a type or class previously approved in writing by the commissioner that are secured by not less than a like amount of obligations of the United States or by obligations unconditionally guaranteed both as to principal and interest by the United States.

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Legislative history

Amended by Stats. 2013, Ch. 334, Sec. 38. (SB 537) Effective January 1, 2014.