DIVISION 15. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS 31000-31952›CHAPTER 12. Crimes and Criminal Penalties 31800-31881›ARTICLE 2. Conflicts of Interest 31820-31829
§ 31824
California Financial Code · 2018-11 edition · updated 2026-10-04 · California
It shall be unlawful for any licensee or for any associate of a licensee, directly or indirectly, to borrow money from:
(a) Any person to which such licensee has provided, or has committed to provide, financing assistance;
(b) Any director of, officer of, or person who owns a 10 percent or greater equity interest in, any person referred to in subdivision (a); or
(c) Any close relative of any person referred to in subdivision (b).
(Added by Stats. 1977, Ch. 1164.)
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