{"code":"FIN","codeName":"Financial Code","section":"31408","citation":"Fin. Code, § 31408","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 15. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS [31000. - 31952.]","url":"https://blackletter.si/financial-code/division-15"},{"name":"CHAPTER 6. Transaction of Business [31400. - 31410.]","url":"https://blackletter.si/financial-code/division-15/chapter-6"}],"history":"Amended by Stats. 1996, Ch. 1064, Sec. 659.   Effective January 1, 1997.   Operative July 1, 1997.","effective":"1997-01-01","html":"<p>No licensee shall, except with the prior approval of the commissioner, guarantee the debt of any other person or otherwise lend its credit to any other person; provided, however, that, whenever a licensee sells to another person an obligation to pay money, which obligation is owned by such licensee, such licensee may guarantee the payment of such obligation.</p>","text":"No licensee shall, except with the prior approval of the commissioner, guarantee the debt of any other person or otherwise lend its credit to any other person; provided, however, that, whenever a licensee sells to another person an obligation to pay money, which obligation is owned by such licensee, such licensee may guarantee the payment of such obligation.","otherVersions":[],"url":"https://blackletter.si/financial-code/transaction-of-business-31408","source":"California Legislative Information bulk export (pubinfo)"}