California Business and Professions Code 17539.4 – No person shall place an advertisement disseminated primarily in this …
No person shall place an advertisement disseminated primarily in this state for a loan which utilizes real property as collateral unless there is disclosed within the printed text of that advertisement, or the oral text in the case of a radio or television advertisement, the license under which the loan would be made or arranged, the state regulatory entity supervising that type of loan transaction or, in the case of unlicensed lending activity, a statement that the loan is being made or arranged by an unlicensed party who is not operating under the regulatory supervision of a state agency.
This section shall not apply to any bank or bank holding company, or to any savings association or federal association as defined by § 5102 of the Financial Code, or to any industrial loan company or credit union, or to any subsidiary or affiliate of these entities if the subsidiary or affiliate is not separately licensed.
Terms Used In California Business and Professions Code 17539.4
- license: means license, certificate, registration, or other means to engage in a business or profession regulated by this code or referred to in Section 1000 or 3600. See California Business and Professions Code 23.7
- person: includes any individual, partnership, firm, association, or corporation. See California Business and Professions Code 17506
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- State: means the State of California, unless applied to the different parts of the United States. See California Business and Professions Code 21
(Amended by Stats. 1992, Ch. 864, Sec. 2. Effective January 1, 1993.)