Fin. Code, § 7701 · Article 10. Finance Leasing
Fin. Code, § 7701
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
An association may become the legal or beneficial owner of tangible personal property or real property for the purpose of leasing such property, may obtain an assignment of a lessor’s interest in a lease of such property, and may incur obligations incidental to its position as the legal or beneficial owner and lessor of the leased property, if:
(1) The lease is a net, full-payout lease representing a noncancelable obligation of the lessee, notwithstanding the possible early termination of the lease.
(2) At the expiration of the lease, the association’s interest in the property shall be liquidated or released on a net basis as soon as practicable.
Notes and commentary — not statutory text
History
Added by Stats. 1984, Ch. 225, Sec. 8. 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=7701.
- Text hash
- sha256 b19dfa0bb3617eb0c382c9a24aa2384504e5a3be663f27e561bc91f9846e0dee
- 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
Cited by 1 provision
Provisions in this library whose text cites Fin. Code, § 7701. Each shows the citation as that text prints it.
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.