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§ 40.618. Loan Secured by Assignment of Obligation Secured by Real Property.

10 CA ADC § 40.618Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 10. Investment
Chapter 1. Commissioner of Business Oversight, Division of Financial Institutions
Subchapter 40. Industrial Loans
Article 6. Loans and Obligations Receivable
10 CCR § 40.618
§ 40.618. Loan Secured by Assignment of Obligation Secured by Real Property.
Currentness
The market value of the collateral obligation of such loan must be at least 115% of the principal amount owing on the loan. The market value of the underlying real property may be considered in determining the market value of the collateral obligation.

Credits

Note: Authority cited: Section 18347, Financial Code. Reference: Section 18207, Financial Code.
History
1. Change without regulatory effect renumbering former section 1176 to new section 40.618 and adding new Note filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).
This database is current through 5/3/24 Register 2024, No. 18.
Cal. Admin. Code tit. 10, § 40.618, 10 CA ADC § 40.618
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