At the time of origination, loans shall be available only to qualified members and annuitants for the purchase or refinancing of homes in accordance with the provisions of these regulations.

A member or annuitant shall not be eligible for a second loan under this program while a loan which he or she originated remains outstanding.

Effective January 1, 2002, “officers” as defined herein (Sec. 561.2) shall not be eligible for a home loan under the Member Home Loan Program.

Note: Authority cited: Sections 20120, 20121, 20200 and 20201, Government Code. Reference: Sections 20002, 20021, 20200 and 20201, Government Code.

History

1. Amendment filed 10-29-92; operative 11-30-92 (Register 92, No. 44).

2. Amendment adding third paragraph and amendment of Note filed 6-20-2002; operative 7-20-2002 (Register 2002, No. 25).

3. Amendment filed 12-21-2010; operative 1-20-2011 (Register 2010, No. 52).