Bus. & Prof. Code, § 17530.1 · Article 2. Particular Offenses
Bus. & Prof. Code, § 17530.1
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) It shall be unlawful for a person to recommend to a prospective trustor any person to serve as trustee with knowledge or having reason to believe that the proposed trustee is insolvent or is about to become insolvent.
For purposes of this section, “insolvent” means a person who has ceased to pay that person’s debts as they become due or whose liabilities exceed that person’s assets.
(b) The provisions of this section shall not apply to any trustee named in any deed of trust or mortgage which secures a note or evidence of indebtedness on real property when such trustee acts solely in that capacity.
Notes and commentary — not statutory text
History
Added by Stats. 1979, Ch. 763.
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=17530.1.
- Text hash
- sha256 dad56b395ba82e757240628828e8e645a5173bd2e55155d73d2d096db75ff65f
- 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
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.