§ 129135. — 129135. (Amended by Stats. 2021, Ch. 143, Sec. 251.)

California § 129135.

• Jurisdiction: California
• Code HSC: Health and Safety Code - HSC
• Div. 107.: DIVISION 107. HEALTH CARE ACCESS AND INFORMATION
• Part 6.: PART 6. FACILITIES LOAN INSURANCE AND FINANCING
• Ch. 1.: CHAPTER 1. Health Facility Construction Loan Insurance
• Art. 3.: ARTICLE 3. Defaults

Text

Notwithstanding any requirement contained in this chapter relating to acquisition of title and possession of the project property by the lender and its subsequent conveyance and transfer to the department, and for the purpose of avoiding unnecessary conveyance expense in connection with payment of insurance benefits under the provisions of this chapter, the department may, subject to regulations that it may prescribe, permit the lender to tender to the department a satisfactory conveyance of title and transfer of possession direct from the borrower or other appropriate grantor and to pay to the lender the insurance benefits to which it would otherwise be entitled if the conveyance had been made to the lender and from the
lender to the department.

Legislative History

Amended by Stats. 2021, Ch. 143, Sec. 251. (AB 133) Effective July 27, 2021.