SECTIONS 1917.070-1917.075 - California Statutes

CIVIL CODE

SECTION 1917.070-1917.075

1917.070. (a) The disclosures made pursuant to this chapter, as
required, shall be the only disclosures required to be made pursuant
to state law for shared appreciation loans, notwithstanding any
contrary provisions applicable to loans not made under this chapter,
except those, if any, that may be required by reason of the
application of Division 1 (commencing with Section 25000) of the
Corporations Code, or Chapter 1 (commencing with Section 11000) of
Part 2 of Division 4 of the Business and Professions Code. A lender
may, but shall not be required to, supplement the disclosures
required by this article with additional disclosures that are not
inconsistent with the disclosures required by this article.
(b) When very specific language is prescribed by this chapter,
substantially the same language shall be utilized if possible, but
reasonably equivalent language may be used to the extent necessary or
appropriate to achieve a clearer or more accurate disclosure.

1917.071. (a) Each lender offering shared appreciation loans shall
furnish to a prospective borrower, on the earlier of the date on
which the lender first provides written information concerning shared
appreciation loans from such lender or provides a loan application
form to the prospective borrower, a written disclosure as provided in
this section.
(b) The disclosure shall be entitled "INFORMATION ABOUT THE (Name
of Lender) SHARED APPRECIATION LOAN," and shall describe the
operation and effect of the shared appreciation loan including a
brief summary of its terms and conditions, together with a statement
consisting of substantially the following language, to the extent
applicable to such loan:

INFORMATION ABOUT THE