§ 6826. — 6826. (Added by Stats. 2013, Ch. 605, Sec. 21.)

California § 6826.

• Jurisdiction: California
• Code CIV: Civil Code - CIV
• Div. 4.: DIVISION 4. GENERAL PROVISIONS
• Part 5.3.: PART 5.3. Commercial and Industrial Common Interest Developments
• Ch. 7.: CHAPTER 7. Assessments and Assessment Collection
• Art. 3.: ARTICLE 3. Assessment Collection

Text

(a)
An association may not voluntarily assign or pledge the association’s right to collect payments or assessments, or to enforce or foreclose a lien to a third party, except when the assignment or pledge is made to a financial institution or lender chartered or licensed under federal or state law, when acting within the scope of that charter or license, as security for a loan obtained by the association.
(b)
Nothing in subdivision (a) restricts the right or ability of an association to assign any unpaid obligations of a former member to a third party for purposes of collection.

Legislative History

Added by Stats. 2013, Ch. 605, Sec. 21. (SB 752) Effective January 1, 2014.