Statute · California Financial Code
Cal. Fin. Code § 6504 — General Powers
Cal. Fin. Code § 6504
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 1985-09-26
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) Except by the prior written consent of the commissioner, an association in organization that is not a member of a federal home loan bank may borrow money from any source not more than an aggregate amount equal to 25 percent of its assets on the date of borrowing, and may pledge and otherwise…
Citator
Cal. Fin. Code § 6504 — General Powers is in force in the current edition of the Code, and nothing recorded condemns it.
(a) Except by the prior written consent of the commissioner, an association in organization that is not a member of a federal home loan bank may borrow money from any source not more than an aggregate amount equal to 25 percent of its assets on the date of borrowing, and may pledge and otherwise encumber any of its assets to secure its debts.
(b) An association that is a member of a federal home loan bank may borrow money from any source without limitation and may pledge and otherwise encumber any of its assets to secure its debts or savings accounts.