Fin. Code, § 7456 · Article 5. Investment in Loans
Fin. Code, § 7456
Verbatim from the official edition
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
Any loan commitment made by an association shall be counted as an investment and shall be included in total assets of the association only to the extent that funds have been advanced (and not repaid) pursuant to the commitment. For the purposes of this section, the term “loan commitment” includes a loan in process, a letter of credit, or any other commitment to extend credit.
Notes and commentary — not statutory text
History
Added by Stats. 1984, Ch. 225, Sec. 7. Effective June 21, 1984.
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=7456.
- Text hash
- sha256 27e4e427463751795d80efaf77a843fb383b753ea36a2d6bff3d4241d17a976b
- 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.