A finance company shall not sell property securing a loan to any employee, officer, director or partner of such finance company or affiliate of such finance company, or to a relative of any of them.

Note: Authority cited: Section 22150, Financial Code. Reference: Sections 22150 and 22156, Financial Code.

History

1. Amendment filed 12-29-83; effective thirtieth day thereafter (Register 83, No. 53).

2. Change without regulatory effect amending Note filed 6-14-95 pursuant to section 100, title 1, California Code of Regulations (Register 95, No. 24).