California Statutes
§ 50509. — 50509. (Added by Stats. 1994, Ch. 994, Sec. 7.)
California § 50509.
JurisdictionCalifornia
Code FINFinancial Code - FIN
Div. 20.DIVISION 20. CALIFORNIA RESIDENTIAL MORTGAGE LENDING ACT
Ch. 7.CHAPTER 7. Prohibited Practices and Penalties
This text of California § 50509. (50509. (Added by Stats. 1994, Ch. 994, Sec. 7.)) 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 § 50509. (2026).
Text
Any officer, director, partner, trustee, or employee of any entity who abstracts or misapplies any of the money, funds, or property of a licensee, or misapplies its credit, or abstracts or misapplies money, funds, trust obligations, or property deposited with a licensee, violates this division. If a violation results in a criminal conviction, the court shall, in addition to any other punishment imposed, order the person to make full restitution to the licensee. Nothing
in this section shall be deemed or construed to repeal, amend, or impair any existing provision of law prescribing a punishment for such an offense.
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Legislative History
Added by Stats. 1994, Ch. 994, Sec. 7. Effective January 1, 1995. Section operative January 1, 1996, pursuant to Section 50601 (later repealed).
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California § 50509., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/FIN/50509..