California Financial Code 1460 – A commercial bank shall not rediscount, borrow money, or hypothecate …
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A commercial bank shall not rediscount, borrow money, or hypothecate its assets as security for money borrowed except to the extent and upon the conditions set forth in this division.
(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
Terms Used In California Financial Code 1460
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.