California Financial Code

§ 31824

FIN § 31824Div. 15 · Ch. 12 · Art. 2

It shall be unlawful for any licensee or for any associate of a licensee, directly or indirectly, to borrow money from:

(a)Any person to which such licensee has provided, or has committed to provide, financing assistance;

(b)Any director of, officer of, or person who owns a 10 percent or greater equity interest in, any person referred to in subdivision (a); or

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Legislative history

Added by Stats. 1977, Ch. 1164.