California § 7503. 7503. (Amended by Stats. 1984, Ch. 287, Sec. 29.)

California Statutes

§ 7503. — 7503. (Amended by Stats. 1984, Ch. 287, Sec. 29.)

California § 7503.

JurisdictionCalifornia

Code FINFinancial Code - FIN

Div. 2.DIVISION 2. SAVINGS ASSOCIATION LAW

Ch. 6.CHAPTER 6. Investment Operations

Art. 6.ARTICLE 6. Real Estate Loans

This text of California § 7503. (7503. (Amended by Stats. 1984, Ch. 287, Sec. 29.)) 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 § 7503. (2026).

Text

Except as specified by the loan contract or by Section 2954.8 of the Civil Code, an association shall have no obligation to pay interest to the borrower upon funds credited to an impound, trust, or other type of account for payment of taxes, insurance, or other charges relating to the property, or to invest them for the benefit of the borrower, unless the funds have been placed in an interest bearing savings account under the terms of the loan contract.

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Except as specified by the loan contract or by Section 2954.8 of the Civil Code, an association shall have no obligation to pay interest to the borrower upon funds credited to an impound, trust, or other type of account for payment of taxes, insurance, or other charges relating to the property, or to invest them for the benefit of the borrower, unless the funds have been placed in an interest bearing savings account under the terms of the loan contract.

Legislative History

Amended by Stats. 1984, Ch. 287, Sec. 29. Effective July 6, 1984.

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California § 7503., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/FIN/7503..