31824. It shall be unlawful for any licensee or for any associate of a licensee, directly or indirectly, to borrow money from:(a) Any person to which such licensee has provided, or has committed to provide, financing assistance;(b) Any director of, officer of, or person who owns a 10 percent or greater equity interest in, any person referred to in subdivision (a); or(c) Any close relative of any person referred to in subdivision (b).(Added by Stats. 1977, Ch. 1164.)
California Legal Code
§ 31824
Source: https://leginfo.legislature.ca.gov/faces/codes_displayText.xhtml?lawCode=FIN&division=15.&title=&part=&chapter=12.&article=2.· Version 2026