California Financial Code

§ 18525

FIN § 18525 Effective Jul 1, 1985Div. 7 · Ch. 7 · Art. 3

Statute text

Notwithstanding any other provision of this division, Guaranty Corporation, with the written consent of the commissioner, shall have the power to assume obligations, enter into contracts, including contracts of guarantee or suretyship, incur liabilities, borrow money, lend money or otherwise use its credit, and secure any of its obligations, contracts, or liabilities by mortgage, pledge, security interest, or other encumbrances of all or any part of its property and assets, including, but not limited to, income from assessments of members or rights thereto, and income.

Legislative history

Amended by Stats. 1985, Ch. 142, Sec. 34. Effective July 1, 1985.