{"code":"FIN","codeName":"Financial Code","section":"50311","citation":"Fin. Code, § 50311","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 20. CALIFORNIA RESIDENTIAL MORTGAGE LENDING ACT [50000. - 50706.]","url":"https://blackletter.si/financial-code/division-20"},{"name":"CHAPTER 5. Administration and Powers of the Commissioner [50301. - 50333.]","url":"https://blackletter.si/financial-code/division-20/chapter-5"}],"history":"Added by Stats. 1994, Ch. 994, Sec. 7.   Effective January 1, 1995.   Section operative January 1, 1996, pursuant to Section 50601 (later repealed).","effective":"1995-01-01","html":"<p>Nothing in this law shall preclude a person whose license has been suspended or revoked, summarily or otherwise, from making a residential mortgage loan pursuant to a commitment issued by that person prior to the suspension or revocation. A prospective borrower who received a commitment issued by a person whose license has been suspended or revoked may, prior to the closing of the loan, terminate the commitment and receive a refund of all money paid to that person.</p>","text":"Nothing in this law shall preclude a person whose license has been suspended or revoked, summarily or otherwise, from making a residential mortgage loan pursuant to a commitment issued by that person prior to the suspension or revocation. A prospective borrower who received a commitment issued by a person whose license has been suspended or revoked may, prior to the closing of the loan, terminate the commitment and receive a refund of all money paid to that person.","otherVersions":[],"url":"https://blackletter.si/financial-code/administration-and-powers-of-the-commissioner-50311","source":"California Legislative Information bulk export (pubinfo)"}