§ 18209 Federal Insured Loan Authority

Financial Code·California

AI SummaryVerified

This law says certain companies can give out loans or buy loan papers that are backed by the government, like the FHA or VA. The loans can last as long as the government allows.

Key Takeaways

•Certain companies can give loans backed by the government.
•These loans can last as long as the government allows.
•The government agencies mentioned include the FHA and VA.

Example

A person wants to buy a house but doesn't have all the money upfront.

A company can give them a loan for the house, and if the loan is backed by the government (like the FHA), the loan can last for the maximum time the government allows, like 30 years.

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

Official Source

View on CA.gov

§ 18209 Federal Insured Loan Authority

An industrial loan company may make loans, purchase or discount notes, mortgages, contracts or other commercial paper insured by the Federal Housing Administrator, Veterans Administration, other federal agency or an agency of the state. Loans so insured may be made for a term up to but not to exceed the maximum permitted by such agencies. (Repealed and added by Stats. 1976, Ch. 964.)

Last verified: January 11, 2026

Key Terms

industrial loan company Federal Housing Administrator Veterans Administration commercial paper

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 18209.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References