California § 7450 - An association may make any loan authorized by this division, but the association
Full text of California Public Contract Code - PCC § 7450 — An association may make any loan authorized by this division, but the association, with citation guidance and answers to common questions.
§ 7450. An association may make any loan authorized by this division, but the association
(a) An association may make any loan authorized by this division, but the association shall first determine that the type, amount, purpose, and repayment provisions of the loan in relation to the borrowerâs resources and credit standing support the reasonable belief that the loan will be financially sound and will be repaid according to its terms, and that the loan is not otherwise unlawful. (b) Subject to any regulations of the commissioner, an association may make or acquire loans directly or indirectly to or from any director, officer, affiliated person, or any parent or subsidiary. Loans made or acquired, directly or indirectly, the proceeds of which are intended to inure or have inured to the benefit of these parties are subject to the same regulations.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 7450
What does Public Contract Code - PCC § 7450 cover?
Section 7450 ("An association may make any loan authorized by this division, but the association") 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 § 7450?
A common citation format is "Public Contract Code - PCC § 7450" (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 § 7450 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.