Statutes, codes, and regulations
California Code Of Regulations
Title 10 - InvestmentChapter 3 - Commissioner of Financial Protection and InnovationSubchapter 6 - California Financing Law
Article 9 - Repossession and Sale of Personal Property
Section 1540 - Sales to Certain Persons Prohibited

Cal. Code Regs. tit. 10 § 1540

Download
PDF
Current through Register 2024 Notice Reg. No. 45, November 8, 2024
Section 1540 - Sales to Certain Persons Prohibited

A finance company shall not sell property securing a loan to any employee, officer, director or partner of such finance company or affiliate of such finance company, or to a relative of any of them.

Cal. Code Regs. Tit. 10, § 1540

1. Amendment filed 12-29-83; effective thirtieth day thereafter (Register 83, No. 53).
2. Change without regulatory effect amending NOTE filed 6-14-95 pursuant to section 100, title 1, California Code of Regulations (Register 95, No. 24).

Note: Authority cited: Section 22150, Financial Code. Reference: Sections 22150 and 22156, Financial Code.

1. Amendment filed 12-29-83; effective thirtieth day thereafter (Register 83, No. 53).
2. Change without regulatory effect amending Note filed 6-14-95 pursuant to section 100, title 1, California Code of Regulations (Register 95, No. 24).