California · Financial Code
FIN §113: “Industrial banking business” includes the making of loans and acceptance of deposits, including deposits evidenced by investment or thrift certificates, but excluding demand deposits.
What this law says, in plain English
This statute defines 'industrial banking business' as activities involving making loans and accepting deposits, including investment certificates, but not demand deposits.
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This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.