California Financial Code 18443 – If any loan or guaranty is made in violation of Section 18436 or …
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If any loan or guaranty is made in violation of Section 18436 or 18442, the directors and officers who authorize it or assent thereto are jointly and severally liable to the company as guarantors for the repayment or return of the sum or value so loaned with interest thereon at the rate of 6 percent per year until paid.
(Added by Stats. 1976, Ch. 964.)
Terms Used In California Financial Code 18443
- company: as used in this division means a premium finance agency as defined in Section 18560. See California Financial Code 18003