Fin. Code, § 1482 · Article 3. Loan Limits
Fin. Code, § 1482
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
An obligation shall not be deemed secured by personal property or collateral unless the personal property or collateral held as security is of a kind which has not been declared ineligible by the commissioner and unless it has a market value at least 15 percent greater than the amount of the obligations secured thereby or, if the security is a bank deposit, it shall have a face value at least equal to the amount of the obligations secured thereby. The commissioner may by general regulation declare any particular kinds or classes of personal property ineligible as security. An obligation shall not be deemed secured by real property unless the obligation and the lien securing the same conform to the provisions of Section 1486, 1489, 1494, 1495, or 1496 or the first sentence of Section 1493. Secured and unsecured loans shall be represented by separate notes and shall not be combined in any way within one note or notes.
Notes and commentary — not statutory text
History
Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.
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=FIN§ionNum=1482.
- Text hash
- sha256 2295bda2c562477ff2a34c04da791deb3407e7ee139d0010de4a9caed77e01b7
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Financial Code
- Fin. Code, § 1486Printed as Section 1486, 1489, 1494, 1495, or 1496
- Fin. Code, § 1489Printed as Section 1486, 1489, 1494, 1495, or 1496
- Fin. Code, § 1493Printed as Section 1493
- Fin. Code, § 1494Printed as Section 1486, 1489, 1494, 1495, or 1496
- Fin. Code, § 1495Printed as Section 1486, 1489, 1494, 1495, or 1496
- Fin. Code, § 1496Printed as Section 1486, 1489, 1494, 1495, or 1496
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.