Section 107.104 - Computation of Total of Loans to One BorrowerFor the purpose of Section 7174 of the law, in computing the total of loans to any one borrower, any loan or loans to any one or more of the following persons or entities shall be included:
(a) Any person or entity that is, or that upon the making of a loan will become, obligor on a loan on the security of real estate;(b) Nominees of such obligor;(c) All persons, trusts, partnerships, syndicates, and corporations of which such obligor is a beneficiary, partner, member, or record or beneficial stockholder owning 10 percent or more of the capital stock; or a nominee for any of these persons;(d) If such obligor is a trust, partnership, syndicate, or corporation: all trusts, partnerships, syndicates and corporations of which any beneficiary, partner, member, or record or beneficial stockholder owning 10 percent or more of the capital stock,is also a beneficiary, partner, member, or record or beneficial stockholder owning 10 percent or more of the capital stock of the obligor;(e) Members of the immediate family of any borrower.Cal. Code Regs. Tit. 10, § 107.104
1. Change without regulatory effect renumbering former Section 118.5 to Section 107.104 (Register 87, No. 14). For prior history, see Register 82, No. 49. Note: Authority cited: Section 5255, Financial Code.Reference: Section 7174, Financial Code.
1. Change without regulatory effect renumbering former Section 118.5 to Section 107.104 (Register 87, No. 14). For prior history, see Register 82, No. 49.