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California Code, Financial Code - FIN § 31824

Current as of January 01, 2025 | Updated by Findlaw Staff

It shall be unlawful for any licensee or for any associate of a licensee, directly or indirectly, to borrow money from:

(a) Any person to which such licensee has provided, or has committed to provide, financing assistance;

(b) Any director of, officer of, or person who owns a 10 percent or greater equity interest in, any person referred to in subdivision (a);  or

(c) Any close relative of any person referred to in subdivision (b).

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Cite this article: FindLaw.com - California Code, Financial Code - FIN § 31824 - last updated January 01, 2025 | https://codes.findlaw.com/ca/financial-code/fin-sect-31824/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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