Financial Code section 31408

No licensee shall, except with the prior approval of the commissioner, guarantee the debt of any other person or otherwise lend its credit to any other person; provided, however, that, whenever a licensee sells to another person an obligation to pay money, which obligation is owned by such licensee, such licensee may guarantee the payment of such obligation.

Source: Section 31408, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=FIN§ionNum=31408.­ (updated Jan. 1, 1997; accessed Jun. 25, 2025).

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Verified:
Jun. 30, 2025

§ 31408's source at ca​.gov