California Financial Code

§ 22686

FIN § 22686 Effective Jan 1, 2019Div. 9 · Ch. 3.5

Statute text

A program administrator shall not execute an assessment contract, and no work shall commence under a home improvement contract that is financed by that assessment contract nor shall that home improvement contract be executed unless the program administrator makes a reasonable good faith determination that the property owner has a reasonable ability to pay the annual payment obligations for the PACE assessment.

Legislative history

Amended by Stats. 2018, Ch. 813, Sec. 9. (AB 2063) Effective January 1, 2019.