BlackletterCalifornia law

Financial Code § 31409

CHAPTER 6. Transaction of Business

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

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.