California Health and Safety Code 53101 – The Solar and Energy Conservation Mortgage Corporation is hereby …
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The Solar and Energy Conservation Mortgage Corporation is hereby created for the following purposes:
(a) To facilitate financing of energy conservation measures and structural improvements.
Terms Used In California Health and Safety Code 53101
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(b) To provide liquidity for loans made by member financial institutions for such purpose.
(c) To provide that such loans shall be financed by private capital to the maximum extent feasible.
(Added by Stats. 1981, Ch. 1033.)