Cal. Code Regs. Tit. 10, § 30.901 - Valuation or Appraisal of Personal and Real Property Security

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

(a) A credit union shall itself value or obtain an appraisal of personal property offered as security for an obligation in accordance with a written appraisal policy approved by the board of directors.
(b) A credit union shall obtain a valuation or an appraisal of real property offered as security for an obligation in accordance with Part 722 of the regulations of the National Credit Union Administration ( 12 C.F.R. Part 722 ).

Notes

Cal. Code Regs. Tit. 10, § 30.901

Note: Authority cited: Section 14201, Financial Code. Reference: Sections 14950 and 14953, Financial Code; and Part 722 (commencing with Section 722.1), Title 12, Code of Federal Regulations.

1. Change without regulatory effect renumbering former section 986 to new section 30.901 filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).
2. Amendment of section heading, section and Note filed 2-27-2003; operative 3-29-2003 (Register 2003, No. 9).

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