California Statutes
§ 80550. — 80550. (Added by Stats. 2022, Ch. 257, Sec. 2.)
California·Code HSC Health and Safety Code - HSC·Div. 45. DIVISION 45. HAZARDOUS SUBSTANCE RESPONSE·Part 2. PART 2. HAZARDOUS SUBSTANCE ACCOUNT·Ch. 10. CHAPTER 10. Cleanup Loans and Environmental Assistance to Neighborhoods·Art. 10. ARTICLE 10. Security for Loan
(a)Notwithstanding any other provision of law, no approval or review shall be required from the Department of General Services to obtain any security interest or exercise any rights, including, but not limited to, foreclosure, under any security interest or other agreement made pursuant to this chapter.
(b)The acquisition of a property pursuant to this chapter through foreclosure or its equivalent is not subject to Article 2 (commencing with Section 14660) of Chapter 2 of Part 5.5 of Division 3 of Title 2 of the Government Code.
(c)The department shall promptly dispose of any property acquired through the exercise of any security interest pursuant to this chapter at the
property’s current market value and the disposal of this property is exempt from Section 11011.1 of the Govern
Free access — add to your briefcase to read the full text and ask questions with AI
California § 80550. (80550. (Added by Stats. 2022, Ch. 257, Sec. 2.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 2022, Ch. 257, Sec. 2. (AB 2293) Effective January 1, 2023. Operative January 1, 2024, pursuant to Sec. 4 of Stats. 2022, Ch. 257.