California · Financial Code
FIN §14957: Whenever the directors, the credit committee, or if applicable, the credit manager, deem any loan unsafe, they may require additional security to be given by the borrower, and if such security is not
What this law says, in plain English
Bank directors or credit committees may demand additional security from borrowers when they determine a loan is unsafe.
Read the full statutory text
Whenever the directors, the credit committee, or if applicable, the credit manager, deem any loan unsafe, they may require additional security to be given by the borrower, and if such security is not furnished as required, they may declare the loan due and take action to collect the same.
Verify at the official source: California legislative text
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