California Code of Regulations
Title 2 - Administration
Division 2 - Financial Operations
Chapter 4 - Office of the State Treasurer
Subchapter 2 - Security for State Deposits
Article 2 - Eligibility and Custody of Notes
Section 1898.3 - Eligible Collateral
Universal Citation: 2 CA Code of Regs 1898.3
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
All promissory notes pledged to secure state deposits may be approved by the Treasurer. The Treasurer may accept as eligible, promissory notes secured by first mortgages and first trust deeds upon residential real property located in California, provided that:
(a) The loan to appraised value ratio is not in excess of 80 percent, unless such loan is federally insured or guaranteed;
(b) The loan has been outstanding at least six months prior to acceptance;
(c) No payment on the loan is more than thirty days past due prior to acceptance.
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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