Statutes, codes, and regulations
California Code Of Regulations
Title 10 - InvestmentChapter 1 - Commissioner of Business Oversight, Division of Financial InstitutionsSubchapter 40 - Industrial Loans
Article 10 - Appraisals
Section 40.1000 - Obligation or Loan Considered Unsecured Unless Collateral Appraised or Value Determined

Cal. Code Regs. tit. 10 § 40.1000

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Current through Register 2024 Notice Reg. No. 52, December 27, 2024
Section 40.1000 - Obligation or Loan Considered Unsecured Unless Collateral Appraised or Value Determined

A loan made or obligation purchased shall be considered unsecured within the meaning of Section 18271 of the Financial Code and Sections 40.401 and 40.613 of this Chapter unless the collateral given as security is supported by an adequate written appraisal or the market value thereof is adequately established in the loan file.

Cal. Code Regs. Tit. 10, § 40.1000

1. Change without regulatory effect adding new article 10 (sections 40.1000-40.1005) and renumbering and amending former section 1210 to new section 40.1000 filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).

Note: Authority cited: Section 18347, Financial Code. Reference: Section 18271, Financial Code.

1. Change without regulatory effect adding new article 10 (sections 40.1000-40.1005) and renumbering and amending former section 1210 to new section 40.1000 filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).