Health & Saf. Code, § 51401 · Chapter 8. Taxable Securities

Health & Saf. Code, § 51401

Verbatim from the official edition

Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)

Notwithstanding any other provision of this division, as used in this chapter:

(a) “Mortgage loan” means any residential mortgage loan or multifamily rental housing loan.

(b) “Multifamily rental housing” means any existing structure of more than four dwelling units or any work or undertaking of more than four units of new construction, improvement, or rehabilitation for the provision of housing.

(d) “Residence” means any existing structure of one to four dwelling units or any work or undertaking of one to four dwelling units of new construction, improvement, or rehabilitation for the provision of housing.

(e) “Residential mortgage loan” means a mortgage loan secured by a mortgage on a residence.

(f) “Taxable securities” means securities bearing interest that is otherwise taxable under the personal income tax provisions of federal tax law and which are issued to finance the purchase or making of mortgage loans pursuant to this chapter.

Notes and commentary — not statutory text

History

Amended by Stats. 1988, Ch. 829, Sec. 1. Effective September 12, 1988.

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&sectionNum=51401.
Text hash: sha256 2e1d04e174a34d4a953df1e5e8169fcb7816c8baf61c615cb4df49887fd29b5a
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.