Financial Code section 31824

It shall be unlawful for any licensee or for any associate of a licensee, directly or indirectly, to borrow money from:

(a)

Any person to which such licensee has provided, or has committed to provide, financing assistance;

(b)

Any director of, officer of, or person who owns a 10 percent or greater equity interest in, any person referred to in subdivision (a); or

(c)

Any close relative of any person referred to in subdivision (b).

Source: Section 31824, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=FIN§ionNum=31824.­ (updated Jan. 1, 1977; accessed Jun. 30, 2025).

Green check means up to date. Up to date

Verified:
Jun. 30, 2025

§ 31824's source at ca​.gov