California Education Code

§ 22360

EDC § 22360 Effective Jan 1, 2002Div. 1 · Title 1 · Part 13 · Ch. 6

Statute text

(a)Notwithstanding any other provision of law, the board may pursuant to Section 22203 and in conformance with its fiduciary duty set forth in Section 22250, enter into correspondent agreements with private lending institutions in this state to utilize the retirement fund to invest in residential mortgages, including assisting borrowers, through financing, to obtain homes in this state.

(b)The program shall, among other things, provide:

(1)That home loans be made available to borrowers for the purchase of single-family dwellings, two-family dwellings, three-family dwellings, four-family dwellings, single-family cooperative apartments, and single-family condominiums.

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Legislative history

Amended by Stats. 2001, Ch. 802, Sec. 4. Effective January 1, 2002.