Statute · California Financial Code
Cal. Fin. Code § 7503 — Real Estate Loans
Cal. Fin. Code § 7503
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 1984-07-06
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Except as specified by the loan contract or by Section 2954.8 of the Civil Code, an association shall have no obligation to pay interest to the borrower upon funds credited to an impound, trust, or other type of account for payment of taxes, insurance, or other charges relating to the property,…
Citator
Cal. Fin. Code § 7503 — Real Estate Loans is in force in the current edition of the Code, and nothing recorded condemns it.
Except as specified by the loan contract or by Section 2954.8 of the Civil Code, an association shall have no obligation to pay interest to the borrower upon funds credited to an impound, trust, or other type of account for payment of taxes, insurance, or other charges relating to the property, or to invest them for the benefit of the borrower, unless the funds have been placed in an interest bearing savings account under the terms of the loan contract.