California Financial Code

§ 1495

FIN § 1495 Effective Jan 1, 2014Div. 1.1 · Ch. 14 · Art. 3

Statute text

(a)A commercial bank may make amortized loans upon the security of residential real property to finance the purchase and installation of material or equipment designed to promote energy conservation or the efficient use of energy in the residential real property securing the loan, if all of the following apply:

(1)The residential real property securing the loan consists of not more than four dwelling units.

(2)The loan is made in connection with a concurrent loan authorized under Section 1486.

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Legislative history

Amended by Stats. 2013, Ch. 334, Sec. 39. (SB 537) Effective January 1, 2014.