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Financial Code - FIN - FIN § 7502
Financial Code - FIN - FIN § 7502
(a) Each real estate loan shall be secured by a deed of trust, mortgage, or other transaction or instrument constituting a lien or claim, or its equivalent, upon the real estate securing the loan, according to any lawful and recognized practice that is suited to the transaction.
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Financial Code - FIN - FIN § 7503
Financial Code - FIN - FIN § 7503
Except as specified by the loan contract or by Section 2954.8 of the Civil Code, an association shall have no obligation to pay interest to the borrower upon funds credited to an impound, trust, or other type of account for payment of taxes, insurance, or other charges relating t
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Financial Code - FIN - FIN § 7504
Financial Code - FIN - FIN § 7504
Notwithstanding any other provision of law, an association may adjust the interest rate, payment, balance, or term-to-maturity on any loan secured by real property as authorized by the loan contract, and may receive a portion of the consideration for making a real estate loan in
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Financial Code - FIN - FIN § 7505
Financial Code - FIN - FIN § 7505
(a) Notwithstanding any other provision of law, an association may originate, invest in, sell, purchase, service, participate, or otherwise deal in loans (including construction loans) on the security of real property for primarily residential (other than a one- to four-unit dwel
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Financial Code - FIN - FIN § 7505.5
Financial Code - FIN - FIN § 7505.5
(a) A savings association may make loans the principal purpose of which is to provide financing with respect to what is, or what is to become, primarily residential real estate, for which the association relies substantially on the borrower’s general credit standing and projected
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Financial Code - FIN - FIN § 7506
Financial Code - FIN - FIN § 7506
Notwithstanding any other provision of the law, an association may make a loan secured by an assignment of a loan or loans to the extent that it could, under applicable law and regulations, make or purchase the underlying assigned loan or loans.
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Financial Code - FIN - FIN § 7507
Financial Code - FIN - FIN § 7507
(a) An association may make loans or advances of credit, or invest in interests therein, on the security of real property, which loans, advances of credit, or investments are not otherwise authorized under the law because of the following reasons: (1) The loan-to-value ratio, sta
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Financial Code - FIN - FIN § 7509
Financial Code - FIN - FIN § 7509
(a) (1) At the time of origination, a real estate loan may not exceed 100 percent of the market value of security property. An association shall, by vote of its board of directors, establish maximum loan-to-value ratios for loans made on the security of real estate, and the resol
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Financial Code - FIN - FIN § 7600
Financial Code - FIN - FIN § 7600
In the case of any investment made by an association in a real estate loan, in the event all or part of the ownership of the real estate security becomes vested in a person other than the party or parties originally executing the security instruments and if there is not an agreem
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Financial Code - FIN - FIN § 7650
Financial Code - FIN - FIN § 7650
(a) Except as provided in subdivision (b), nothing in this division or the laws of this state shall be construed as denying to an association the right to invest its funds, operate a business, manage or deal in property, or take any other action over whatever period of time may r
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Financial Code - FIN - FIN § 7675
Financial Code - FIN - FIN § 7675
(a) Pursuant to the authority contained in Section 1 of Article XV of the California Constitution, the restrictions upon rates of interest contained in Section 1 of Article XV of the California Constitution shall not apply to any obligations of, loans made or arranged by, or forb
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Financial Code - FIN - FIN § 7700.3
Financial Code - FIN - FIN § 7700.3
An association may engage in leasing activities that are the functional equivalent of lending, subject to the limitations of Sections 7701 to 7704, inclusive.
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Financial Code - FIN - FIN § 7701
Financial Code - FIN - FIN § 7701
An association may become the legal or beneficial owner of tangible personal property or real property for the purpose of leasing such property, may obtain an assignment of a lessor’s interest in a lease of such property, and may incur obligations incidental to its position as th
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Financial Code - FIN - FIN § 7702
Financial Code - FIN - FIN § 7702
(a) A lease of tangible personal property made to a natural person for personal, family, or household purposes pursuant to this section shall be subject to all limitations applicable to the amount of an association’s investment in consumer loans. (b) A lease made for commercial,
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Financial Code - FIN - FIN § 7703
Financial Code - FIN - FIN § 7703
For the purposes of this article: (a) A “net lease” is a lease under which the association will not, directly or indirectly, provide or be obligated to provide for: (1) The servicing, repair, or maintenance of the leased property during the lease term. (2) The purchasing of parts
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Financial Code - FIN - FIN § 7704
Financial Code - FIN - FIN § 7704
If, in good faith, an association believes that there has been an unanticipated change in conditions that threatens its financial position by significantly increasing its exposure to loss, the provisions of Sections 7702 and 7703 of this article shall not prevent the association:
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Financial Code - FIN - FIN § 7720
Financial Code - FIN - FIN § 7720
(a) An association may invest in tangible personal property, including without limitation, vehicles, mobilehomes, machinery, equipment, or furniture, and may hold the property for rental or sale. (b) Investment under this section is limited to not in excess of 10 percent of the t
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Financial Code - FIN - FIN § 7800
Financial Code - FIN - FIN § 7800
Subject to the provisions of Section 2955.5 of the Civil Code, the board of directors of every association and affiliate or service corporation of an association shall establish standards for the maintenance of hazard insurance which are considered necessary to protect the instit
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Financial Code - FIN - FIN § 8
Financial Code - FIN - FIN § 8
“Writing” includes any form of recorded message capable of comprehension by ordinary visual means. Whenever any notice, report, petition, permit, statement, or record is required by this code, it shall be made in writing in the English language. Wherever any notice or other commu
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Financial Code - FIN - FIN § 800
Financial Code - FIN - FIN § 800
As used in this chapter, unless the context requires otherwise, the following terms have the following meanings: (a) “Net direct debt” of any public corporation means all indebtedness of every kind after deducting from the indebtedness sinking funds available for the payment ther
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Financial Code - FIN - FIN § 80000
Financial Code - FIN - FIN § 80000
(a) The Legislature finds and declares that “Bank on California” is a voluntary collaborative initiative that assists Californians in opening a bank or credit union account and saving for the future. (b) There is hereby established within the department the Bank on California Pro
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Financial Code - FIN - FIN § 80001
Financial Code - FIN - FIN § 80001
For purposes of this division, the following terms shall have the following meanings: (a) “Department” means the Department of Financial Protection and Innovation. (b) “Program” means the Bank on California Program.
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Financial Code - FIN - FIN § 8009
Financial Code - FIN - FIN § 8009
(a) Except where required by law, regulation, or court order, or permitted under subdivision (b), the commissioner, and all employees of the department, shall not disclose any information acquired by them in the discharge of their duties as prescribed by this division. (b) The co
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Financial Code - FIN - FIN § 801
Financial Code - FIN - FIN § 801
Any securities or other assets that are described in Sections 803 to 819, inclusive, are legal investments for savings banks.
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Financial Code - FIN - FIN § 8010
Financial Code - FIN - FIN § 8010
The commissioner, after a determination of value made in accordance with Article 4 (commencing with Section 8150) of Chapter 7, may order that assets, individually or in the aggregate, to the extent that the assets are overvalued on an association’s books, be charged off against