In determining for purposes of Government Code Section 53651(m) or this Chapter whether a promissory note is secured by a first lien on real property, the items described in Financial Code Section 766, unless an installment or payment thereunder (other than a rental or royalty under a lease) is due and delinquent, shall be disregarded.

Note: Authority cited: Section 53661, Government Code. Reference: Section 53651, Government Code.

History

1. New section filed 7-16-80; effective thirtieth day thereafter (Register 80, No. 29).