California Health and Safety Code

§ 51527

HSC § 51527 Effective Jun 30, 2022Div. 31 · Part 3 · Ch. 12

Statute text

(a)(1) The agency shall develop a borrower education program and disclosure statement designed to provide a borrower with sufficient information to understand the terms of a shared appreciation loan provided pursuant to this chapter.

(2)The disclosure statement required by this subdivision shall include the specific terms of the shared appreciation loan offered to the borrower.

(b)(1) Before making a shared appreciation loan, a participating lender shall provide a borrower with information to access the borrower education program and disclosure statement developed pursuant to subdivision (a).

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Legislative history

Added by Stats. 2022, Ch. 70, Sec. 43. (SB 197) Effective June 30, 2022.