Health & Saf. Code, § 51182 · Article 4.5. Subordinated Mortgage Loans
Health & Saf. Code, § 51182
Verbatim from the official edition
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
The agency shall determine the manner in which subordinated loans are to be repaid. Potential methods of repayment may include, but not be limited to:
(a) An interest payment of 3 percent to be made from the positive cash flows of the project before payment to any other equity investor or mortgage loan holder is made.
(b) Repayment upon conversion or the term of the bond, whichever is less, to the state, including an interest payment of 3 percent.
Notes and commentary — not statutory text
History
Added by Stats. 1982, Ch. 1448, Sec. 1.
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=51182.
- Text hash
- sha256 973895be14886514abe677f90a13705340a63cf3285efd09c9ce8ce39c96d9e4
- 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.