California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 6 - California Financing Law
Article 9 - Repossession and Sale of Personal Property
Section 1540 - Sales to Certain Persons Prohibited
Universal Citation: 10 CA Code of Regs 1540
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
A finance company shall not sell property securing a loan to any employee, officer, director or partner of such finance company or affiliate of such finance company, or to a relative of any of them.
1. Amendment
filed 12-29-83; effective thirtieth day thereafter (Register 83, No.
53).
2. Change without regulatory effect amending NOTE filed 6-14-95
pursuant to section
100, title 1, California Code of
Regulations (Register 95, No. 24).
Note: Authority cited: Section 22150, Financial Code. Reference: Sections 22150 and 22156, Financial Code.
Disclaimer: These regulations may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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