California Financial Code

§ 50703

FIN § 50703 Effective Mar 20, 1996Div. 20 · Ch. 9

Statute text

Notwithstanding Section 10248.3 of the Business and Professions Code, the provisions of Article 7 (commencing with Section 10240) of Chapter 3 of Part 1 of Division 4 of the Business and Professions Code shall apply to a residential mortgage loan arranged by a licensee pursuant to this chapter, unless that loan exceeds the principal loan amount specified for a bona fide loan secured directly or collaterally by a first trust deed or a bona fide loan secured directly or collaterally by a lien junior thereto, specified in Section 10245 of the Business and Professions Code.

Legislative history

Added by Stats. 1996, Ch. 19, Sec. 1. Effective March 20, 1996.