Section 31408 Of Chapter 6. Transaction Of Business From California Financial Code >> Division 15. >> Chapter 6.

. No licensee shall, except with the prior approval of the commissioner, guarantee the debt of any other person or otherwise lend its credit to any other person; provided, however, that, whenever a licensee sells to another person an obligation to pay money, which obligation is owned by such licensee, such licensee may guarantee the payment of such obligation.