California Codes, Civil Code - CIV, Division 3 — Obligations, Part 4 — Obligations Arising from Particular Transactions, Title 4 — Loan, Chapter 4 — Shared Appreciation Loans of E.R.I.S.A. Pension Funds, Article 6 — General Provisions, Section 1917.068
The qualification requirements of Sections 25110, 25120, and 25130 of the Corporations Code shall not apply to a shared appreciation loan, provided (1) the loan obligation is evidenced by one promissory note secured by a deed of trust which is not one of a series of notes secured by interests in the same real property and (2) the loan obligation is not evidenced by fractional undivided interests in one promissory note secured by interests in the same real property.
Notes
Exempts a shared appreciation loan from the specified Corporations Code qualification requirements only when its obligation is evidenced by one promissory note secured by a deed of trust that is not one of a series secured by interests in the same property, and the obligation is not divided into fractional undivided interests in one such note.
Use as reference
Lexinter.net | California Code, Civil Code - CIV § 1917.068 | https://laws.lexinter.net/codes/california/civil-code/division-3/part-4/title-4/chapter-4/article-6/section-1917-068