§ 11010.1. — 11010.1. (Added by Stats. 1961, Ch. 886.)

California § 11010.1.

• Jurisdiction: California
• Code BPC: Business and Professions Code - BPC
• Div. 4.: DIVISION 4. REAL ESTATE
• Part 2.: PART 2. REGULATION OF TRANSACTIONS
• Ch. 1.: CHAPTER 1. Subdivided Lands
• Art. 2.: ARTICLE 2. Investigation, Regulation and Report

Text

Prior to the issuance of promissory notes secured by individual lots in an unrecorded subdivision, the owner, his agent or subdivider shall notify the commissioner in writing of his intention to issue such notes.
The notice of intention shall contain the following information:
(a)
The name and address of the owner.
(b)
The name and address of the subdivider.
(c)
The legal description and area of lands.
(d)
A true statement of the condition of the title to the land, particularly including all encumbrances thereon.
(e)
A true statement of the terms and conditions on which it is intended to issue the promissory notes.
(f)
A true statement of the provisions, if any, that have been made for public utilities in the proposed subdivision, including water, electricity, gas and telephone facilities.
(g)
Such other information as the owner, his agent or subdivider, may desire to present.

Legislative History

Added by Stats. 1961, Ch. 886.