Civil Code - CIV
DIVISION 4. GENERAL PROVISIONS [3274 - 9566]
( Heading of Division 4 amended by Stats. 1988, Ch. 160, Sec. 16. ) PART 5. Common Interest Developments [4000 - 6150]
( Part 5 added by Stats. 2012, Ch. 180, Sec. 2. ) CHAPTER 8. Assessments and Assessment Collection [5600 - 5740]
( Chapter 8 added by Stats. 2012, Ch. 180, Sec. 2. ) ARTICLE 3. Assessment Collection [5700 - 5740]
( Article 3 added by Stats. 2012, Ch. 180, Sec. 2. ) 5735.
(a) An association may not voluntarily assign or pledge the association’s right to collect payments or assessments, or to enforce or foreclose a lien to a third party, except when the assignment or pledge is made to a financial institution or lender chartered or licensed under federal or state law, when acting within the scope of that charter or license, as security for a loan obtained by the association.
(b) Nothing in subdivision (a) restricts the right or ability of an association to assign any unpaid obligations of a former member to a third party for purposes of collection.
(Added by Stats. 2012, Ch. 180, Sec. 2. (AB 805) Effective January 1, 2013. Operative January 1, 2014, by Sec. 3 of Ch. 180.)