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HomeFinancial CodeDiv. 2Ch. 3Art. 6§ 6455 Loan And Investment Records

§ 6455 Loan And Investment Records

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 6455 Loan And Investment Records

Key Takeaways

  • •Banks and similar groups must keep detailed records of all loans and investments.
  • •These records must be clear and organized so that the government can check if the bank is following the rules.
  • •For loans that use property (like a house) as security, the bank must have proof that the property is good enough to cover the loan.

Example

If you take out a loan to buy a house, the bank must keep records showing that your house is worth enough to cover the loan if you can't pay it back.

The bank needs to have papers proving your house is valuable enough to act as a backup plan for the loan.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 6455 Loan And Investment Records

(a) Each association shall maintain complete loan and investment records, and shall do so in a manner satisfactory to the commissioner. Detailed records necessary to make determinations of compliance by an association with the requirements of Chapter 6 (commencing with Section 7200) and other provisions of this division shall be maintained at all times. (b) The record of each real estate loan or other secured loan or investment shall contain documentation satisfactory to the commissioner of the type, adequacy and characteristics of the security. (Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.)

Last verified: January 23, 2026

Key Terms

compliancereal estatecommissionterminationpropertysecurityassociationinvestment

Related Statutes

  • § 7350 Association Real Property Investments
  • § 7500 Association Loan Appraisal Rules
  • § 7509 Real Estate Loan Limits
  • § 23100 Deferred Deposit Licensing Requirements
  • § 412 Moneys To State Treasurer

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 6455.
View Official Source