Health & Saf. Code, § 50197.2 · Article 2. Mortgage Credit Certificates
Health & Saf. Code, § 50197.2
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) An issuer shall notify the committee if the issuer elects to exchange all or part of the issuer’s authority to issue qualified mortgage bonds for authority to issue mortgage credit certificates. The notification shall include a statement which does both of the following:
(1) Specifies the amount of the qualified mortgage bond authority that the issuer will not be issuing in order to issue mortgage credit certificates.
(2) Explains how the issuer shall assure that the dollar amount of mortgage credit certificate authority will not be exceeded.
(b) An issuer may revoke the election if the issuer notifies the committee that it cannot successfully carry out that exchange.
Notes and commentary — not statutory text
History
Added by Stats. 1985, Ch. 1399, Sec. 7.5. Effective October 1, 1985.
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=HSC§ionNum=50197.2.
- Text hash
- sha256 e406db6232ee7d4f8e60e31cfcd85382d4b9cc355610713bd0e94c989fea7915
- 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.