California Financial Code

§ 22716

FIN § 22716 Effective Jan 1, 2019Div. 9 · Ch. 4 · Art. 1

Statute text

(a)The revocation, suspension, expiration, or surrender of any license does not impair or affect the obligation of any preexisting lawful contract between the licensee and any borrower or property owner, nor the validity and enforceability of any bonds issued and secured by those contracts. This division does not affect the validity and enforceability of any PACE assessment contracts entered into or bonds issued and secured by those contracts.

(b)This section shall become operative on January 1, 2019.

Legislative history

Amended (as added by Stats. 2017, Ch. 475, Sec. 83) by Stats. 2018, Ch. 813, Sec. 14. (AB 2063) Effective January 1, 2019.