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Code · California · Health and Safety Code

§ 51054

92 words·~1 min read·/ca/health-and-safety-code/51054

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The agency may make or undertake commitments to make development loans, construction loans, mortgage loans, and property improvement loans to housing sponsors to finance housing developments, as provided in Chapter 5 (commencing with Section 51100) of this part.
The agency may, in conjunction with a construction loan, set aside a reserve to provide improvement security required under subdivision
(c)of Section 66462 and Chapter 5 (commencing with Section 66499) of Division 2 of Title 7 of the Government Code, which shall be in lieu of improvement security otherwise required by such provisions.
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