Home/California/Statutes/Code FIN: Financial Code - FIN/Div. 1.1.: DIVISION 1.1. BANKING/Ch. 14.: CHAPTER 14. Loans and Investments/Art. 3.: ARTICLE 3. Loan Limits/§ 1493.
California Statutes

§ 1493. — 1493. (Added by Stats. 2011, Ch. 243, Sec. 3.)

California § 1493.
JurisdictionCalifornia
Code FINFinancial Code - FIN
Div. 1.1.DIVISION 1.1. BANKING
Ch. 14.CHAPTER 14. Loans and Investments
Art. 3.ARTICLE 3. Loan Limits

This text of California § 1493. (1493. (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 § 1493. (2026).

Text

A commercial bank holding a first lien on real property may take, or purchase and hold, or loan upon another and immediately junior lien but all such loans shall not exceed in the aggregate 90 percent of the sound market value of the property as determined by proper appraisal. A commercial bank may loan not to exceed the face value of a deed of trust or mortgage which constitutes a first lien upon real property, but in no event shall any such loan exceed 90 percent of the sound market value of the property covered by said mortgage or deed of trust as determined by proper appraisal.

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Legislative History

Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.
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California § 1493., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/FIN/1493..