California § 7450.2 - Except with the prior written consent of the commissioner, no association shall k
Full text of California Public Contract Code - PCC § 7450.2 — Except with the prior written consent of the commissioner, no association shall k, with citation guidance and answers to common questions.
§ 7450.2. Except with the prior written consent of the commissioner, no association shall k
Except with the prior written consent of the commissioner, no association shall knowingly make: (a) Any loan to any corporation of which 10 percent or more of the stock is owned or controlled individually or collectively by any one or more of the directors, officers, employees, or substantial stockholders of the association. As used in this subdivision, âsubstantial stockholderâ means a person who has a real or beneficial ownership of more than 10 percent of the outstanding stock of the association. For this purpose, stock owned by the personâs immediate family shall be deemed owned by that person. (b) Any loan the proceeds of which are intended to inure to the benefit of any corporation specified in subdivision (a).
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 7450.2
What does Public Contract Code - PCC § 7450.2 cover?
Section 7450.2 ("Except with the prior written consent of the commissioner, no association shall k") 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 § 7450.2?
A common citation format is "Public Contract Code - PCC § 7450.2" (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 § 7450.2 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.