California Statutes
§ 8456. — 8456. (Added by Stats. 2010, Ch. 697, Sec. 20.)
California·Code CIV Civil Code - CIV·Div. 4. DIVISION 4. GENERAL PROVISIONS·Title 2.·Part 6. TITLE 2. PRIVATE WORKS OF IMPROVEMENT·Ch. 4. CHAPTER 4. Mechanics Lien·Art. 5. ARTICLE 5. Priorities
(a)This section applies to a construction loan secured by a mortgage or deed of trust that has priority over a lien under this chapter.
(b)An optional advance of funds by the construction lender that is used for construction costs has the same priority as a mandatory advance of funds by the construction lender, provided that the total
of all advances does not exceed the amount of the original construction loan.
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California § 8456. (8456. (Added by Stats. 2010, Ch. 697, Sec. 20.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 2010, Ch. 697, Sec. 20. (SB 189) Effective January 1, 2011. Operative July 1, 2012, by Sec. 105 of Ch. 697 and by Section 8052.