California § 1493 - A commercial bank holding a first lien on real property may take, or purchase and
Full text of California Public Contract Code - PCC § 1493 — A commercial bank holding a first lien on real property may take, or purchase and, with citation guidance and answers to common questions.
§ 1493. A commercial bank holding a first lien on real property may take, or purchase and
A commercial bank holding a first lien on real property may take, or purchase and hold, or loan upon another and immediately junior lien but all such loans shall not exceed in the aggregate 90 percent of the sound market value of the property as determined by proper appraisal. A commercial bank may loan not to exceed the face value of a deed of trust or mortgage which constitutes a first lien upon real property, but in no event shall any such loan exceed 90 percent of the sound market value of the property covered by said mortgage or deed of trust as determined by proper appraisal.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 1493
What does Public Contract Code - PCC § 1493 cover?
Section 1493 ("A commercial bank holding a first lien on real property may take, or purchase and") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 1493?
A common citation format is "Public Contract Code - PCC § 1493" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 1493 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.