- (a) A career officer, qualified as a veteran as defined in Section 980 of the Military and Veterans Code, shall be granted a subsequent opportunity to purchase property under the CalVet Loan program for service during more than one qualifying war period. An officer shall qualify for a subsequent loan for service if the officer served in a campaign or expedition, at any time for which a medal has been authorized by the federal government. Only one loan shall be granted during any one qualifying war period, therefore, the service in a campaign or expedition must have occurred outside of the qualifying war periods.
- (b) The first CalVet Loan must be sold, or the veteran's interest must have been divested through divorce or dissolution of marriage, and the contract paid in full before the veteran may obtain a subsequent loan and the veteran must be qualified under the federal restrictions on the uses of tax-exempt bonds at the time the subsequent loan is funded.
- (c) If the veteran has dual eligibility (qualifies for veteran status under two qualifying war periods), then the previous CalVet Loan must have been paid in full, but the property need not be sold.
Note: Authority cited: Section 700, Military and Veterans Code. Reference: Sections 980, 987.52 and 987.86, Military and Veterans Code; and 26 United States Code Annotated, Section 143.
History
1. New section filed 12-9-91; operative 1-8-92 (Register 92, No. 9).
2. Repealer of subsection (b) and subsection relettering filed 3-26-93; operative 4-26-93 (Register 93, No. 13).
3. Change without regulatory effect amending subsection (b), new subsection (c) and amendment of Note filed 12-2-96 pursuant to section 100, title 1, California Code of Regulations (Register 96, No. 49).
3. Amendment of section and Note filed 3-24-2026; operative 7-1-2026 (Register 2026, No. 13).