{"code":"HSC","codeName":"Health and Safety Code","section":"51683","citation":"Health & Saf. Code, § 51683","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 31. HOUSING AND HOME FINANCE [50000. - 54949.]","url":"https://blackletter.si/health-and-safety-code/division-31"},{"name":"PART 4. BOND AND LOAN INSURANCE [51600. - 51687.]","url":"https://blackletter.si/health-and-safety-code/division-31/part-4"},{"name":"CHAPTER 6. Loan Loss Guarantee Program [51680. - 51687.]","url":"https://blackletter.si/health-and-safety-code/division-31/part-4/chapter-6"}],"history":"Added by Stats. 1993, Ch. 115, Sec. 4.   Effective July 15, 1993.   Conditionally inoperative as provided in Section 51687.","effective":"1993-07-15","html":"<p>The agency may issue a loan loss guarantee in the amount of 25 percent of the actual loss of a loan guaranteed under this section. The fund may not guarantee any loan loss in excess of the amount of permanent loan financing for the property. No guarantee shall be made for a property which does not have a binding, unconditional, permanent financing commitment from a lender acceptable to the agency, nor for a property in which the owner has less than a 20-percent equity interest.</p>","text":"The agency may issue a loan loss guarantee in the amount of 25 percent of the actual loss of a loan guaranteed under this section. The fund may not guarantee any loan loss in excess of the amount of permanent loan financing for the property. No guarantee shall be made for a property which does not have a binding, unconditional, permanent financing commitment from a lender acceptable to the agency, nor for a property in which the owner has less than a 20-percent equity interest.","otherVersions":[],"url":"https://blackletter.si/health-and-safety-code/loan-loss-guarantee-program-51683","source":"California Legislative Information bulk export (pubinfo)"}