California Statutes
§ 7462. — 7462. (Added by Stats. 1987, Ch. 397, Sec. 4.)
California·Code FIN Financial Code - FIN·Div. 2. DIVISION 2. SAVINGS ASSOCIATION LAW·Ch. 6. CHAPTER 6. Investment Operations·Art. 5. ARTICLE 5. Investment in Loans
The provisions of any deed of trust or mortgage on real property which authorize an association, federal association, affiliate or service corporation of an association or federal association, or any successor in interest thereto, to receive and control the disbursement of the proceeds of any policy of fire, flood, or other hazard insurance respecting the property shall be enforceable whether or not impairment of the security interest in the property has resulted from the event that caused the proceeds of the insurance policy to become payable.
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California § 7462. (7462. (Added by Stats. 1987, Ch. 397, Sec. 4.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1987, Ch. 397, Sec. 4.