7720. (a) An association may invest in tangible personal property, including without limitation, vehicles, mobilehomes, machinery, equipment, or furniture, and may hold the property for rental or sale.(b) Investment under this section is limited to not in excess of 10 percent of the total assets of the association.(Added by renumbering Section 7700 by Stats. 1990, Ch. 216, Sec. 25.)
California Legal Code