§ 7720
48 words·~1 min read·
/ca/financial-code/7720A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)An association may invest in tangible personal property, including without limitation, vehicles, mobilehomes, machinery, equipment, or furniture, and may hold the property for rental or sale.
(b)Investment under this section is limited to not in excess of 10 percent of the total assets of the association.