California Statutes
§ 6504. — 6504. (Amended by Stats. 1985, Ch. 983, Sec. 5.)
California·Code FIN Financial Code - FIN·Div. 2. DIVISION 2. SAVINGS ASSOCIATION LAW·Ch. 4. CHAPTER 4. Powers of Associations·Art. 1. ARTICLE 1. General Powers
(a)Except by the prior written consent of the commissioner, an association in organization that is not a member of a federal home loan bank may borrow money from any source not more than an aggregate amount equal to 25 percent of its assets on the date of borrowing, and may pledge and otherwise encumber any of its assets to secure its debts.
(b)An association that is a member of a federal home loan bank may borrow money from any source without limitation and may pledge and otherwise encumber any of its assets to secure its debts or savings
accounts.
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California § 6504. (6504. (Amended by Stats. 1985, Ch. 983, Sec. 5.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 1985, Ch. 983, Sec. 5. Effective September 26, 1985.