California § 1405. 1405. (Added by Stats. 2011, Ch. 243, Sec. 3.)

California Statutes

§ 1405. — 1405. (Added by Stats. 2011, Ch. 243, Sec. 3.)

California § 1405.

JurisdictionCalifornia

Code FINFinancial Code - FIN

Div. 1.1.DIVISION 1.1. BANKING

Ch. 12.CHAPTER 12. Deposits

Art. 1.ARTICLE 1. Depositors

This text of California § 1405. (1405. (Added by Stats. 2011, Ch. 243, Sec. 3.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Financial Code - FIN Code § 1405. (2026).

Text

(a)Notwithstanding Section 10145 of the Business and Professions Code or any other provision of law, benefits accruing from the placement in an interest bearing account of a financial institution of funds received by a real estate broker, as defined in Section 10131 of the Business and Professions Code, who collects payments or provides services for an institutional investor in connection with a loan secured by commercial real property may inure to the real estate broker, if agreed to in writing by the real estate broker and that institutional investor as to that loan.

(b)For purposes of this section, the following definitions shall apply:

(1)“Commercial real property” means real estate improved with other than a one-to-four family residence.

(2)“Financial institution” means any insti

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(a)
Notwithstanding Section 10145 of the Business and Professions Code or any other provision of law, benefits accruing from the placement in an interest bearing account of a financial institution of funds received by a real estate broker, as defined in Section 10131 of the Business and Professions Code, who collects payments or provides services for an institutional investor in connection with a loan secured by commercial real property may inure to the real estate
broker, if agreed to in writing by the real estate broker and that institutional investor as to that loan.
(b)
For purposes of this section, the following definitions shall apply:
(1)
“Commercial real property” means real estate improved with other than a one-to-four family residence.
(2)
“Financial institution” means any institution the business of which is engaging in financial activities as described in Section 1843(k) of Title 12 of the United States Code.
(3)
“Institutional investor” has the meaning set forth in subdivision (i) of Section 50003.