(a) The state, the secretary, the department, and the account are not liable under any state or local statute, regulation, or ordinance because the department holds the security interest identified in Section 80540 or because the department acquired property through foreclosure or its equivalent in satisfaction of a loan issued pursuant to this chapter. (b) Chapter 6.96 (commencing with Section 25548) of Division 20 does not apply to the state, the secretary, the department, the agency, or the account with regard to a loan secured pursuant to Section 80540.
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