{"code":"FIN","codeName":"Financial Code","section":"31409","citation":"Fin. Code, § 31409","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. 660.   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, provide a lien or security interest in any of its property for the purpose of securing an obligation of, or an obligation incurred for the benefit of, any other person.</p>","text":"No licensee shall, except with the prior approval of the commissioner, provide a lien or security interest in any of its property for the purpose of securing an obligation of, or an obligation incurred for the benefit of, any other person.","otherVersions":[],"url":"https://blackletter.si/financial-code/transaction-of-business-31409","source":"California Legislative Information bulk export (pubinfo)"}