California Law (Last Updated: March 4, 2014) |
Business and Professions Code - BPC |
Division 4. REAL ESTATE |
Part 1. LICENSING OF PERSONS |
Chapter 3. Real Estate Regulations |
ARTICLE 7. Real Property Loans |
Section 10245.
Latest version.
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The provisions of this article, exclusive of the provisions of Sections 10240, 10240.3, 10242.5, and 10242.6, do not apply to any bona fide loan secured directly or collaterally by a first trust deed, the principal of which is thirty thousand dollars ($30,000) or more, or to any bona fide loan secured directly or collaterally by any lien junior thereto, the principal of which is twenty thousand dollars ($20,000) or more.
(Amended by Stats. 2007, Ch. 301, Sec. 4. Effective January 1, 2008.)