California § 7505.5 - A savings association may make loans the principal purpose of which is to provide
Full text of California Public Contract Code - PCC § 7505.5 — A savings association may make loans the principal purpose of which is to provide, with citation guidance and answers to common questions.
§ 7505.5. A savings association may make loans the principal purpose of which is to provide
(a) A savings association may make loans the principal purpose of which is to provide financing with respect to what is, or what is to become, primarily residential real estate, for which the association relies substantially on the borrowerâs general credit standing and projected future income for repayment, without other security, or relies on other assurances for repayment, including guarantees or other obligations of third parties. (b) An associationâs aggregate investment in residential real estate loans described in subdivision (a) shall not exceed an amount equal to 5 percent of the associationâs assets.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 7505.5
What does Public Contract Code - PCC § 7505.5 cover?
Section 7505.5 ("A savings association may make loans the principal purpose of which is to provide") 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 § 7505.5?
A common citation format is "Public Contract Code - PCC § 7505.5" (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 § 7505.5 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.