California Codes, Civil Code - CIV, Division 3 — Obligations, Part 4 — Obligations Arising from Particular Transactions, Title 4 — Loan, Chapter 7 — Shared Appreciation Loans for Seniors, Article 5 — General Provisions, Section 1917.619
Pursuant to the authority contained in Section 1 of Article XV of the California Constitution, the restrictions upon rates of interest contained in Section 1 of Article XV of the California Constitution shall not apply to any obligation of any loan made by any lender pursuant to this chapter.
This section creates and authorizes lenders under this chapter as an exempt class of persons pursuant to Section 1 of Article XV of the Constitution.
Notes
Exempts obligations of loans made by lenders under the chapter from the California Constitution's restrictions on rates of interest. Establishes lenders making loans under the chapter as an exempt class of persons under the cited constitutional authority, so those constitutional interest-rate restrictions do not apply to obligations of their chapter-authorized loans.
Use as reference
Lexinter.net | California Code, Civil Code - CIV § 1917.619 | https://laws.lexinter.net/codes/california/civil-code/division-3/part-4/title-4/chapter-7/article-5/section-1917-619