California Statutes
§ 408.1. — 408.1. (Added by Stats. 2022, Ch. 620, Sec. 5.)
California·Code MVC Military and Veterans Code - MVC·Div. 2. DIVISION 2. THE MILITARY FORCES OF THE STATE·Part 1. PART 1. THE STATE MILITIA·Ch. 7.5. CHAPTER 7.5. Protections
(a)For purposes of this section, “covered member” has the same meaning as in the Military Lending Act pursuant to Section 987 of Title 10 of the United States Code.
(b)A security interest in personal property other than a motor vehicle, off-highway vehicle, trailer, vessel, or aircraft is void, and cannot be perfected, if it would cause a loan procured by a covered member in the course of purchasing the personal property to be exempt from the requirements of Section 987 of Title 10 of the United States Code.
(c)A security interest in a motor vehicle is void, and cannot be perfected, if it would cause a loan procured by a covered member in the course of purchasing the motor
vehicle to be exempt from Section 987 of Title 10 of the United States Code, and the loan also funds the purc
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California § 408.1. (408.1. (Added by Stats. 2022, Ch. 620, Sec. 5.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
§ 987
10 U.S.C. § 987
Legislative History
Added by Stats. 2022, Ch. 620, Sec. 5. (SB 1311) Effective January 1, 2023.