California Health and Safety Code 50197.7 – If an issuer elects to exchange all or part of a supplementary …
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If an issuer elects to exchange all or part of a supplementary allocation of qualified mortgage bonds for authority to issue mortgage credit certificates, the issuance of those mortgage credit certificates shall be subject to the restriction imposed by subdivision (b) of Section 50189.
(Added by Stats. 1985, Ch. 1399, Sec. 7.5. Effective October 1, 1985.)
Terms Used In California Health and Safety Code 50197.7
- Issuer: means a state agency or local agency and includes a redevelopment agency, housing authority or other local entity, authorized by state law to issue qualified mortgage bonds, to which the committee has assigned an allocation under this chapter. See California Health and Safety Code 50172
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.