Bus. & Prof. Code, § 10231.1 · Article 5. Transactions in Trust Deeds and Real Property Sales Contracts
Bus. & Prof. Code, § 10231.1
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
No person in doing any of the acts set forth in subdivision (d) of Section 10131, subdivision (e) of Section 10131, and Section 10131.1 shall, as agent or principal, retain funds payable according to the terms of a promissory note or real property sales contract secured directly or collaterally by a lien on real property, for a period longer than 25 days, except pursuant to a written agreement with the purchaser or lender.
Notes and commentary — not statutory text
History
Amended by Stats. 1998, Ch. 641, Sec. 4. Effective January 1, 1999.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=BPC§ionNum=10231.1.
- Text hash
- sha256 0c6b06983e3b6fa1fec3f3a78782ff1dfb2994aa0d7de92c4d987d83850b736d
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
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