California Financial Code

§ 7452

FIN § 7452 Effective Jun 21, 1984Div. 2 · Ch. 6 · Art. 5

Statute text

(a)An association may make consumer loans, provided that the total of such loans shall not exceed 30-percent of the assets of the association.

(b)An association may include loans to dealers in consumer goods to finance inventory and floor planning in the total investment as part of the 30-percent limitation described in subdivision (a). For purposes of the limitations on loans to one borrower, loans to dealers in consumer goods to finance inventory and floor planning shall be treated as commercial loans.

Legislative history

Amended by Stats. 1984, Ch. 225, Sec. 5. Effective June 21, 1984.