(a) Notwithstanding any other provision of law, a financial institution may undertake to repair any property acquired through foreclosure under a mortgage or deed of trust. (b) As used in this section, the term âfinancial institutionâ includes, but is not limited to, banks, savings associations, credit unions, and industrial loan companies. (c) The rights granted to a financial institution by this section are in addition to, and not in derogation of, the rights of a financial institution which otherwise exist.
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