§ 91462. Prohibition Against Transactions with a Conflict of Interest.
22 CA ADC § 91462Barclays Official California Code of Regulations
22 CCR § 91462
§ 91462. Prohibition Against Transactions with a Conflict of Interest.
No present or former officer, director, member, employee or relative of any officer, director, member or employee of the borrower or an affiliate of the borrower or incorporator shall receive any benefit, either directly or indirectly, as a result of the application for, or insurance of, a loan insured by the office, other than the continuation of salaries and employee benefits.
Credits
Note: Authority cited: Sections 129015 and 127020, Health and Safety Code. Reference: Sections 5231 and 5233, Corporations Code; Sections 1090 and 1091.5, Government Code; and Section 129015, Health and Safety Code.
History
1. New section filed 6-26-96; operative 7-26-96 (Register 96, No. 26).
This database is current through 5/10/24 Register 2024, No. 19.
Cal. Admin. Code tit. 22, § 91462, 22 CA ADC § 91462
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