Statute · California Health and Safety Code
Cal. Health & Safety Code § 51683 — Loan Loss Guarantee Program
Cal. Health & Safety Code § 51683
- Type
- Statute
- Source
- California Health and Safety Code
- Jurisdiction
- California
- Date
- 1993-07-15
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The agency may issue a loan loss guarantee in the amount of 25 percent of the actual loss of a loan guaranteed under this section. The fund may not guarantee any loan loss in excess of the amount of permanent loan financing for the property. No guarantee shall be made for a property which does…
Citator
Cal. Health & Safety Code § 51683 — Loan Loss Guarantee Program is in force in the current edition of the Code, and nothing recorded condemns it.
The agency may issue a loan loss guarantee in the amount of 25 percent of the actual loss of a loan guaranteed under this section. The fund may not guarantee any loan loss in excess of the amount of permanent loan financing for the property. No guarantee shall be made for a property which does not have a binding, unconditional, permanent financing commitment from a lender acceptable to the agency, nor for a property in which the owner has less than a 20-percent equity interest.