BlackletterCalifornia law

Financial Code § 31409

CHAPTER 6. Transaction of Business

Current as of September 28, 2026Fin. Code, § 31409Official source ↗

Amended by Stats. 1996, Ch. 1064, Sec. 660. Effective January 1, 1997. Operative July 1, 1997.

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.