Statute · California Business and Professions Code
Cal. Bus. & Prof. Code § 17351 — Reassignments
Cal. Bus. & Prof. Code § 17351
- Type
- Statute
- Source
- California Business and Professions Code
- Jurisdiction
- California
- Date
- 1980-07-11
- Current through
- Nov 2, 2026 (California Legislative Counsel)
For the purposes of this chapter:
Citator
Cal. Bus. & Prof. Code § 17351 — Reassignments is in force in the current edition of the Code, and nothing recorded condemns it.
For the purposes of this chapter:
(a) “Financial institution” means a bank, savings and loan association, or credit union chartered under the laws of this state or the United States or any other person or organization making loans upon the security of real property.
(b) “Reassignment” means the exercise of a contractual right of a financial institution which is the assignee of a contract which is subject to the provisions of the Unruh Act (Chapter 1 (commencing with Section 1801) of Title 2 of Part 4 of Division 3 of the Civil Code) and which is secured by a mortgage as defined in Article 1 (commencing with Section 2920) of Chapter 2 of Title 14 of Part 4 of Division 3 of the Civil Code on real property to return the contract to the party assigning it to the financial institution, or to assign it to any other person, upon the default of one or more of the parties to the contract.