Cal. Code Regs. Tit. 10, § 260.115 - "Issuer" of Notes Secured by Real Property

Current through Register 2022 Notice Reg. No. 16, April 25, 2022

A licensed real estate broker, a licensed finance lender, or licensed industrial loan company who engages in the offer and sale of notes secured by real property of various makers, which are a series of notes or notes in which undivided interests are offered and sold, is the issuer of such notes and undivided interests if the notes of the various makers are offered and sold pursuant to a plan or arrangement which is common as to the various makers with respect to documentation and loan standards and which includes provisions for servicing such notes on behalf of the purchasers.

Notes

Cal. Code Regs. Tit. 10, § 260.115

Note: Authority cited: Section 25610, Corporations Code. Reference: Sections 25010 and 25115, Corporations Code.

1. New section filed 8-27-81 as an emergency; effective upon filing (Register 81, No. 37).
2. Order of Repeal of 8-27-81 emergency order filed 9-4-81 by OAL pursuant to Government Code Section 11349.6 (Register 81, No. 37).
3. New section filed 6-24-82; effective thirtieth day thereafter (Register 82, No. 26).
4. Amendment filed 8-6-98; operative 9-5-98 (Register 98, No. 32).

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