§ 22059 Broker License Loan Restrictions

Financial Code·California

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Key Takeaways

•If you have a broker license, you can only work with lenders who also have a special license called a 'finance lender' license.
•You can't help people get loans from lenders who don't have this special license.
•This rule is to make sure everyone follows the same safety rules when dealing with loans.

Example

Imagine you are a broker trying to help someone get a loan to buy a house.

You can only work with banks or lenders that have a special 'finance lender' license. If you try to help someone get a loan from a lender without this license, you are breaking the rules.

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

Official Source

View on CA.gov

§ 22059 Broker License Loan Restrictions

A license to act as a broker under this division does not authorize the licensee to negotiate or perform any act as a broker in connection with loans made or to be made by a lender not licensed as a finance lender under this division. (Added by Stats. 1994, Ch. 1115, Sec. 2. Effective January 1, 1995. Operative July 1, 1995, by Sec. 5 of Ch. 1115.)

Last verified: January 23, 2026

Key Terms

broker finance lender license

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 22059.

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Key Takeaways

Example

Key Terms

Related Statutes

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