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California Code, Financial Code - FIN § 7456

Current as of January 01, 2023 | Updated by FindLaw Staff

Any loan commitment made by an association shall be counted as an investment and shall be included in total assets of the association only to the extent that funds have been advanced (and not repaid) pursuant to the commitment. For the purposes of this section, the term “loan commitment” includes a loan in process, a letter of credit, or any other commitment to extend credit.

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Cite this article: FindLaw.com - California Code, Financial Code - FIN § 7456 - last updated January 01, 2023 | https://codes.findlaw.com/ca/financial-code/fin-sect-7456/

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