California

Financial Code

3,323 sections, each with the official text and a plain-English explanation of what it means for you.

• § 1759 — Each foreign (other nation) bank that is licensed to maintain an office shall make, keep, and preserve at the office or at another place that the commissioner may, by regulation or order, approve, the
• § 1760 — (a) No foreign (other nation) bank which is licensed to maintain an agency or branch office shall concurrently maintain a federal agency or federal branch in this state.
• § 17600 — (a) An escrow agent’s license remains in effect until surrendered, revoked, or suspended.
• § 17601 — If the commissioner has reason to believe that any escrow agent is violating the provisions of this division, the commissioner may investigate the escrow agent’s business and examine the books, accoun
• § 17602 — If it appears to the commissioner that any licensed escrow agent is violating or has violated its articles of incorporation, or any law or rule binding upon it, the commissioner shall, by written orde
• § 17602.5 — If any licensed escrow agent fails to make any reports required by law or by the commissioner within ten (10) days from the day designated for the making of the reports, or within any extension of tim
• § 17603 — If it appears to the commissioner that any licensed escrow agent is conducting or has conducted business in an unsafe or injurious manner, the commissioner shall, by written order addressed to the age
• § 17604 — No order issued pursuant to Sections 17602 or 17603 may become final except after notice to any licensed escrow agent affected thereby of the intention of the commissioner to make such order final and
• § 17605 — The licensed escrow agent has ten (10) days after an order is made final in which to commence action to restrain enforcement of such order, and unless such action is commenced, and the enforcement of
• § 17606 — The commissioner may immediately revoke by order the escrow agent’s license if the licensee fails to comply with any order, unless the escrow agent secures a court order restraining the enforcement of
• § 17606.1 — The license of an escrow agent shall be deemed revoked upon the completion or closure of a court approved liquidation of the business of the escrow agent, whether pursuant to Section 17635 or 17636, o
• § 17607 — (a) Whenever it appears to the commissioner that any person has engaged or is about to engage in any act or practice constituting a violation of any provision of this division or any rule or order her
• § 17608 — The commissioner may, after notice and a reasonable opportunity to be heard, suspend or revoke any license if he finds that: (a) The licensee has failed to maintain in effect a bond required under the
• § 17609 — The revocation, suspension, surrender or expiration of an escrow agent’s license does not impair or affect pre-existing escrows lawfully contracted, but nothing contained in this division shall be dee
• § 17609.1 — The power of investigation and examination by the commissioner is not terminated by the surrender, suspension, or revocation of any license issued by him.
• § 17609.2 — Whenever the commissioner deems it necessary for the general welfare of the public, the commissioner has continuous authority to exercise the powers set forth in this division whether or not an applic
• § 1761 — (a) No foreign (other nation) bank shall concurrently be licensed to maintain offices of different classes.
• § 17610 — The commissioner, and all persons designated by him, may administer oaths, take the testimony of witnesses, and issue subpenas requiring the attendance of witnesses and the production of books, docume
• § 17611 — (a) The commissioner may make such investigations as he or she deems necessary to determine whether any person has violated or is about to violate any provision of this division or any rule or order h
• § 17612 — The authority to make or conduct any examination, investigation, or hearing, including the authority to administer oaths and to subpena witnesses, and to take their testimony may be delegated by the c
• § 17613 — All hearings provided for in this division shall be conducted in accordance with the provisions of Chapter 5, Part 1, Division 3, Title 2, of the Government Code, and the commissioner has all the powe
• § 17614 — Every order, decision, license or other official act of the commissioner is subject to review, in accordance with law.
• § 1762 — (a) (1) No foreign (other nation) bank (other than a bank that is licensed to maintain an agency or branch office) shall be issued a license to maintain a representative office unless it shall have fi
• § 17621 — Whenever it appears to the commissioner that any escrow agent subject to this division: (a) Is in an insolvent condition; (b) Is conducting escrow business in an unsafe or unauthorized manner; (c) Has
• § 17622 — Whenever the commissioner has taken possession of any licensee, such licensee, within 10 days after such taking, if it deems it is aggrieved thereby, may apply to the superior court in the county in w
• § 17623 — An appeal from a judgment enjoining the commissioner from further proceedings and directing the commissioner to surrender the business, property, and assets to the licensee does not operate as a stay
• § 17625 — If the commissioner’s demand for the possession of the property, business and assets is not complied with within 24 hours after service of the demand, the commissioner may call to his assistance the s
• § 17626 — When the commissioner takes possession of the property, business and assets of any licensee, such licensee or the president and secretary of such licensee shall make and deliver to the commissioner ve
• § 17627 — The commissioner may issue subpoenas and require the attendance of parties for examination under this article as provided for in this chapter.
• § 17628 — When the commissioner takes possession of the business, property, and assets of a licensee, he may appoint a custodian.
• § 17629 — When the commissioner takes possession of the property, business, and assets of a licensee, he may collect all money due to such licensee and give receipt therefor.
• § 1763 — No license shall be transferable or assignable.
• § 17630 — If any facts occur which would entitle the commissioner under Section 17621 to take possession of the property, business and assets of a licensee the commissioner may appoint a conservator of a licens
• § 17631 — Subject to the other provisions of this article, a conservator, while in possession of the property, business and assets of a licensee, has the same powers and rights and is subject to the same duties
• § 17632 — Upon appointing a conservator the commissioner shall cause to be made and completed at the earliest possible date such an examination of the affairs of the licensee as shall be necessary to inform him
• § 17633 — A conservator, while in possession of the property, business and assets of a licensee, may call, upon the notice required by the licensee’s bylaws, a meeting of the investors of the licensee who are e
• § 17634 — If the commissioner becomes satisfied that it may be done safely and in the public interest, he may terminate the conservatorship and permit the licensee for which a conservator was appointed to resum
• § 17635 — If at any time after taking possession of the property and business of a licensee it shall appear to the commissioner that it would be futile to proceed as conservator with the conduct of the business
• § 17636 — Whenever the commissioner has taken possession of the property and business of a licensee he may petition the superior court for the appointment of a receiver to liquidate the affairs of the licensee.
• § 17637 — The commissioner may appoint one or more special deputies to assist in the duties of liquidation and distribution under his direction and may also employ such special legal counsel, accountants, and a
• § 17638 — In liquidating the affairs of a licensee the commissioner may: (a) Collect all money due to, and claims of, the licensee and give receipt therefor.
• § 17639 — After the issuance of an order of liquidation under Section 17635, any of the following transactions occurring within four months prior to the application for such order shall be voidable by the commi
• § 1764 — Each foreign (other nation) bank that is licensed to maintain an office shall post its license in a conspicuous place at the office.
• § 17640 — If the commissioner is in possession of the business, property, and assets of a licensee, whether or not he is liquidating the affairs of such licensee, the commissioner may: (a) Apply to the superior
• § 17641 — Claims for damages resulting from the disaffirmance of an executory contract or lease by the commissioner may be filed and allowed.
• § 17642 — When the commissioner determines to liquidate a licensee, he shall cause an inventory of all the assets of the licensee to be made in duplicate, file the original with the court, and file the duplicat
• § 17643 — When the commissioner determines to liquidate a licensee he shall cause notice to be given by publication once a week for four successive weeks in some newspaper of general circulation published at or
• § 17644 — All claims, demands, or causes of action of creditors, and persons other than the parties to an escrow transaction against the licensee or against any property owned or held by it in trust or otherwis
• § 17645 — Upon the expiration of the time fixed for the presentation of claims, the commissioner shall prepare in duplicate a full and complete schedule of all claims presented, specifying by classes those that
• § 17646 — Not later than five days after the time of filing the schedule of claims with the court, written notice shall be mailed to all claimants whose claims have been rejected.
• § 17647 — Regardless of any law of this state, the judges of the superior court of the county in this state in which the principal office of the licensee is located may, whenever the judges deem it necessary or
• § 17648 — If it appears improbable that anything can be realized from any property of the licensee and that the cost of maintaining, preserving, or protecting the property would probably be lost, the court may
• § 17649 — For the purpose of executing and performing any of the powers and duties conferred upon him by this article, the commissioner may in the name of the licensee or in his own name prosecute and defend an
• § 1765 — (a) Each foreign (other nation) bank that is licensed to maintain an office shall assign to the office a popular name that consists of a specific designation by name or number and shall post the popul
• § 17650 — If any real property of the licensee sold by the commissioner is located in a county other than the county in which the application to the court for permission to sell the property was made, the commi
• § 17651 — When the commissioner has (a) fully liquidated all claims other than claims of stockholders, and (b) made due provision for any and all known but unclaimed liabilities, excepting claims of stockholder
• § 17652 — Upon the payment of a final dividend in liquidation, the commissioner shall prepare and file with the court a full and final statement of the liquidation, including a summary of the receipts and disbu
• § 17653 — In making its order approving the commissioner’s final statement of the liquidation of a licensee, the court shall determine the amounts of the liquidating dividends to which claimants and investors a
• § 17654 — The order of the court approving the final statement on liquidation shall provide for the destruction or other disposition of the books and records of the licensee or pertaining to the liquidation of
• § 1766 — Whenever a foreign (other nation) bank is licensed to maintain two or more agencies or branch offices, it shall designate one of such offices as its primary office.
• § 1767 — Each foreign (other nation) bank that is licensed to maintain an office shall conduct all of the business of the office in a single building or in adjoining buildings.
• § 1768 — Any foreign (other nation) bank that, at the time it makes a loan or forbearance or executes a contract therefor, has assets equal to at least one hundred million dollars ($100,000,000), is licensed t
• § 177 — (a) The definition of “state of the United States” in Section 207 does not apply to this section.
• § 17700 — Any person who willfully violates any provision of this division, or who willfully violates any rule or order under this division, shall, upon conviction, be fined not more than ten thousand dollars (
• § 17701 — (a) Any person who violates any provision of this division, or who violates any rule or order under this division, shall be liable for a civil penalty not to exceed two thousand five hundred dollars (
• § 17702 — It is unlawful for any person to willfully make any untrue statement of a material fact in any application, notice, or report filed with the commissioner under this division or the regulations issued
• § 17703 — (a) It is unlawful for any person to knowingly alter, destroy, mutilate, conceal, cover up, falsify, or make a false entry in any record, document, or tangible object with the intent to impede, obstru
• § 1780 — (a) No foreign (other nation) bank shall establish or maintain an office in this state at which it engages in representational functions unless it is licensed to maintain a representative office, agen
• § 1781 — (a) (1) No foreign (other nation) bank shall establish or maintain a representative office unless the commissioner shall have first approved the establishment of the office and issued a license author
• § 1782 — (a) No foreign (other nation) bank that is licensed to maintain a representative office shall relocate the office unless the commissioner shall have first approved the relocation and issued a license
• § 1783 — A foreign (other nation) bank that is licensed to maintain a representative office may, subject to any regulations that the commissioner may prescribe, engage in representational functions at the offi
• § 1784 — (a) (1) No foreign (other nation) bank that is licensed to maintain a representative office shall close the office unless the commissioner shall have first approved the closing.
• § 179 — “Foreign (other state)”: (a) When used with respect to a bank, means a bank that is organized under the laws of any state of the United States other than this state, or a national bank that maintains
• § 18 — “Person” includes any person, firm, partnership, association, corporation, company, limited liability company, syndicate, estate, trust, business trust, or organization of any kind.
• § 1800 — (a) No foreign (other nation) bank shall transact business in this state except at an agency or branch office that it is licensed to maintain and at which it is permitted by this chapter to transact t
• § 18000 — This division shall be known and may be cited as the “Industrial Loan Law,” the “Industrial Banking Law,” or the “Thrift and Loan Law.
• § 18001 — The definitions given in this article govern the construction of this division unless the context otherwise requires.
• § 18002 — “Commissioner” means the Commissioner of Financial Protection and Innovation.
• § 18002.5 — “Department” means the Department of Financial Protection and Innovation.
• § 18003 — “Industrial loan company,” “thrift and loan company,” or “company” as used in this division means a premium finance agency as defined in Section 18560.
• § 18003.1 — “Investment and loan” means an industrial loan company.
• § 18003.2 — (a) Any reference in a provision of any statute or regulation of this state to an industrial loan company or a thrift and loan company means an insurance premium finance agency as defined in Section 1
• § 18003.5 — (a) When used with respect to an industrial loan company, “insured” means an industrial loan company that is insured by the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Ac
• § 18003.6 — “Certificate of deposit” as that term is used by an industrial loan company licensed under this division means an investment certificate representing the obligation of an industrial loan company to re
• § 18003.7 — “Demand deposit” means investment or thrift certificates in account, passbook, or certificate form which are redeemable and payable upon demand to the owner.
• § 18004 — “Borrower” means the person receiving the proceeds or benefits of a loan.
• § 18005 — “Consumer loan or consumer obligation” means a loan made to, or an obligation incurred by, a natural person in which the money loaned, or the property delivered or service rendered under the obligatio
• § 18006 — “Primarily secured by real property”, as used in this division, means the fair market value of the real property less prior encumbrances, at the time the loan is made or other obligation is acquired,
• § 18007 — “Charges”, as used in this division, include the aggregate interest, fees, bonuses, commissions, brokerage, discounts, expenses, and other forms of costs charged, contracted for, or received by an ind
• § 18008 — “Charges” also include any profit or advantage of any kind that any person may contract for, collect, receive, or in any manner obtain by a collateral sale, purchase, or agreement, in connection with
• § 18009 — “Principal amount”, as used in this division, means the net amount of money, credit, goods, or things in action received by the debtor or borrower or disbursed on the borrower’s instructions at the ti
• § 1801 — No foreign (other nation) bank shall be licensed to maintain any agency or branch office unless it is qualified to transact intrastate business in this state under Chapter 21 (commencing with Section
• § 18010 — “Principal balance”, and “face amount” as used in this division, means the unpaid balance of a loan or other obligation.
• § 18011 — “Affiliated company”, as used in this division, is a company under substantially the same management or control, directly or indirectly, as the industrial loan company.
• § 18011.1 — “Affiliate” means an affiliated company or a person who, directly or indirectly, controls over 10 percent of the voting stock of an industrial loan company.
• § 18012 — “Corporate Securities Law” means the Corporate Securities Law of 1968, Division 1 (commencing with Section 25000) of Title 4 of the Corporations Code.
• § 18013 — “Outstanding loans and obligations,” as used in this division, means total outstanding loans and obligations, including lease obligations, less unearned interest or charges, unearned discount, reserve
• § 18014 — “Obligation” as used in Sections 18265, 18271, 18272, and 18343 includes lease obligations as authorized by Section 18310.
• § 18015 — “Lease obligation” as used in this division, means a lease contract entered into by an industrial loan company as lessor.
• § 18016 — “Investment certificates ratio”, as used in this division, means the ratio of the aggregate sum of all of the outstanding investment certificates, exclusive of those hypothecated with the company issu
• § 18016.5 — “Premium finance agency” has the meaning set forth in Section 18560.
• § 18017 — “Assets,” as used in this division, means all assets excluding intangibles.
• § 18018 — “Capital,” as used in this division, consists of all of the following: (a) Capital stock.
• § 18018.1 — “Primary capital,” as used in this division, means the sum of common stock, perpetual preferred stock, capital surplus, undivided profits, capital reserves, and mandatory convertible debt (to the exte
• § 18018.2 — “Secondary capital,” as used in this division, means the sum of mandatory convertible debt that is not included in primary capital, limited life preferred stock, and subordinated notes and debentures,
• § 18018.3 — “Perpetual preferred stock,” as used in this division, means a preferred stock that does not have a stated maturity date or that can not be redeemed at the option of the holder.
• § 18018.4 — “Mandatory convertible debt,” as used in this division, means a subordinated debt instrument which requires the issuer to convert that instrument into common or perpetual preferred stock by a date at
• § 18018.5 — “Limited life preferred,” as used in this division, means preferred stock which has a maturity or which may be redeemed at the option of the holder.
• § 18018.6 — “Subordinated notes and debentures,” as used in this division, means an obligation other than an investment certificate obligation that: (a) Bears on its face, in boldface type no smaller than the lar
• § 18019 — “Capital Stock,” as used in this division, means one-class voting common stock.
• § 1802 — No foreign (other nation) bank shall be licensed to maintain a retail branch office unless the deposits in such office are insured by the Federal Deposit Insurance Corporation in accordance with the p
• § 18020 — An industrial loan company shall not appoint or continue in office any officer, director or management personnel who do not have the qualifications required by Section 18117 (d).
• § 18021 — (a) An industrial loan company shall not deposit its funds except with a bank, trust company, or savings association authorized to do business in this state, except as provided in subdivision (b).
• § 18022 — No industrial loan company shall invest any of its funds, except as authorized in this division.
• § 18022.5 — An industrial loan company may organize, sponsor, operate, control, or render investment advice to, an investment company, or underwrite, distribute, or sell securities of any investment company which
• § 18023 — If an industrial loan company has investment or thrift certificates outstanding, then such company shall not borrow, except by the sale of investment or thrift certificates, in an amount in excess of
• § 18023.1 — In addition to the borrowings under Section 18023, an industrial loan company may borrow funds from the Federal Home Loan Bank, the Federal Deposit Insurance Corporation, or a Federal Reserve Bank, wh
• § 18024 — An industrial loan company shall not transact business or make any loan provided for by this division under any other name than that set forth in the articles of incorporation as filed with the commis
• § 18025 — No person shall use a holding company or any other device for the purpose of evading or avoiding any of the provisions of this division.
• § 18027 — Corporations subject to this division are not subject to the provisions or regulations of the California Financing Law (Division 9 (commencing with Section 22000)).
• § 18028 — All corporations formed under the provisions of this division are taxed in the same manner and at the same rates as other corporations are taxed pursuant to Section 27 of Article XIII of the Constitut
• § 18029 — Each industrial loan company shall keep and use in its business, books, accounts, and records which will enable the commissioner to determine if the company is complying with the provisions of this di
• § 1803 — (a) (1) No foreign (other nation) bank shall establish or maintain an agency or branch office unless the commissioner shall have first approved the establishment of that office and issued a license au
• § 18030 — Each industrial loan company shall preserve the books, accounts, and records, including cards used in the card system, if any, for a least two years after making the final entry on any loan or purchas
• § 1804 — (a) No foreign (other nation) bank which is licensed to maintain an agency or branch office shall relocate such office unless the commissioner shall have first approved such relocation and issued a li
• § 18040 — An industrial loan company may purchase, hold and convey real property for the following purposes only: (a) Real property conveyed to it in satisfaction of debts previously contracted in the course of
• § 18041 — (a) The commissioner may establish rules and regulations regarding the sale of any real property acquired pursuant to subdivision (a) or (b) of Section 18040, consistent with what constitutes sound bu
• § 18042 — The authority of a three-fourths vote of all the directors is necessary to authorize the purchase of a lot and building necessary as premises for the transaction of business as an industrial loan comp
• § 18043 — Real property held by an industrial loan company shall be conveyed by an instrument under the corporate seal of the corporation, signed by the president or vice president, and the secretary or assista
• § 1805 — (a) A foreign (other nation) bank that is licensed to maintain an agency or branch office may transact commercial banking business at the office, subject to the following: (1) In case the office is a
• § 18055 — No person shall advertise, print, display, publish, distribute, or broadcast, or cause or permit to be advertised, printed, displayed, published, distributed, or broadcast, in any manner in connection
• § 18056 — An industrial loan company shall not use any advertising which refers to the supervision of such company by the state or any department or official thereof.
• § 18057 — An industrial loan company shall not use any advertising nor make any representations which indicate, imply or might lead a person to believe that the company is a savings association.
• § 18058 — An industrial loan company shall not use any advertising nor make any representations which indicate, infer or might lead a person to believe that investment certificates are insured unless such is th
• § 1806 — (a) In addition to other provisions of this division and Division 1 (commencing with Section 99) that are otherwise applicable to or with respect to foreign (other nation) banks licensed to maintain n
• § 18060 — (a) Except as provided in subdivision (b), industrial loan company which issues thrift certificates shall not use any thrift advertisement which refers to the industrial loan company’s ownership by, o
• § 18061 — If an industrial loan company refers in any advertisement to rates of charge, discount, charges or costs of loans, those charges shall be stated fully and clearly in a manner as may be necessary to pr
• § 18062 — An industrial loan company shall not use any advertisement after its use has been disapproved by the commissioner and the industrial loan company has been notified in writing of the disapproval.
• § 18063 — The commissioner may require an industrial loan company to maintain a file of all advertising copy for a period of 12 months from the date of its use.
• § 1807 — (a) Whenever the commissioner calls for a report under Section 453 from commercial banks organized under the laws of this state, the commissioner shall call for a report from each foreign (other natio
• § 1808 — Each foreign (other nation) bank which is licensed to maintain a depositary agency, limited branch office, or wholesale branch office shall, in accordance with such regulations as the commissioner may
• § 1809 — (a) In case a foreign (other nation) bank is licensed to maintain a depositary agency or branch office and such office is not subject to the regulations of the Depository Institutions Deregulation Com
• § 181 — “Insured”: (a) When used with respect to a bank or an office of a bank, means a bank or office the deposits of which are insured by the Federal Deposit Insurance Corporation under the Federal Deposit
• § 1810 — (a) Each foreign (other nation) bank which is licensed to transact business in this state shall keep the assets of such business separate and apart from the assets of its business outside this state.
• § 18100 — When authorized by the commissioner as provided in this chapter, a corporation may be organized under the laws of this state, or an existing California corporation may amend its articles of incorporat
• § 18100.5 — Each industrial loan company, other than a premium finance agency, that has issued and has outstanding thrift obligations shall, as a condition to its authority to conduct business under this division
• § 18101 — If the commissioner approves an application to engage in business as an industrial loan company filed pursuant to Article 2 (commencing with Section 18115) of this chapter, he shall issue a certificat
• § 18101.5 — Upon filing an application for approval of proposed articles of incorporation with the commissioner, or upon filing an amendment to the articles of a proposed industrial loan company changing the name
• § 18101.6 — Companies authorized to engage in the industrial loan business after the effective date of the act which added this section shall have the words “industrial loan company,” “investment and loan,” “thri
• § 18102 — The articles of incorporation of an industrial loan company, in addition to the statement required by subdivision (b) of Section 202 of the Corporations Code, shall expressly state that its purpose is
• § 18103 — An industrial loan company’s certificate to engage in the industrial loan business is not transferable or assignable.
• § 18104 — Except as otherwise authorized under existing law, no person, unless lawfully authorized to do business in this state under the provisions of this division and who is actually engaged in carrying on a
• § 1811 — (a) In this section: (1) “Adjusted liabilities,” when used with respect to a foreign (other nation) bank, means the liabilities of such bank’s business in this state, excluding (A) accrued expenses, (
• § 18115 — An application for authority to engage in the industrial loan business shall be in such form and contain such information as the commissioner may require and shall be accompanied by a filing fee of fo
• § 18116 — Upon the filing of an application, the commissioner shall make or cause to be made a careful investigation and examination relative to the following: (a) The background and experience of the organizer
• § 18117 — The commissioner, upon reasonable notice and opportunity to be heard, may deny the application for any of the following reasons: (a) The public convenience and advantage will not be promoted by the es
• § 18119 — Within 30 days after an application is filed for authorization to establish an industrial loan company which intends to sell and issue its investment certificates, the commissioner shall give written
• § 1812 — (a) In this section: (1) “Adjusted liabilities,” when used with respect to a foreign (other nation) bank which is licensed to maintain a branch office in this state, means the liabilities of such bank
• § 18120 — Before the commissioner issues a certificate of authorization to operate as an industrial loan company, there must be paid in cash for the benefit of the corporation, the minimum capital stock and min
• § 1813 — (a) (1) No foreign (other nation) bank which is licensed to maintain an agency or branch office shall close such office unless the commissioner shall have first approved such closing.
• § 18130 — The capital stock of an industrial loan company incorporated under this division shall not be less than: (a) Five hundred thousand dollars ($500,000), if incorporated or commencing business on or befo
• § 18131 — In addition to the capital stock required by Section 18130, an industrial loan company which has branch offices or which opens an additional branch office or place of business shall have additional ca
• § 18132 — An industrial loan company may declare a dividend on its capital stock only if the company has minimum unimpaired capital of seven hundred fifty thousand dollars ($750,000) plus additional capital sto
• § 18137 — An industrial loan company shall not reduce its capital stock to an amount less than is required by this article to be maintained by such company or less than any indebtedness of such company other th
• § 18138 — (a) No person may acquire in the aggregate 10 percent or more of the capital stock of, or the capital of, an industrial loan company through purchase, foreclosure pursuant to a pledge or hypothecation
• § 18139 — A sale, merger, or conversion involving an industrial loan company and another industrial loan company, a bank, or a savings association is subject to Division 1.
• § 18145 — Subject to Section 18145.
• § 18145.1 — (a) The commissioner may, by order or regulation, exempt from the requirement of authorization by the commissioner set forth in Section 18145 any establishment of an office or place of business that t
• § 18146 — The request for authority to establish a branch office shall be set forth in an application in such form and containing such information as the commissioner may require and shall be accompanied by an
• § 18147 — The commissioner shall not approve an application for a branch office until the commissioner has ascertained to the commissioner’s satisfaction that the facts set forth in the application are true and
• § 18148 — The failure of an industrial loan company to open and operate a branch office within six months after the commissioner has issued an order approving the application for a branch office shall automatic
• § 18149 — When the commissioner has approved an application for permission to establish a branch office and the applicant pays to the commissioner an additional fee of one hundred dollars ($100) for a certifica
• § 18150 — An industrial loan company shall keep posted in a conspicuous place in each branch office the certificate of authorization to transact business issued by the commissioner permitting the operation of t
• § 18151 — An industrial loan company which opens a branch office without first obtaining a certificate of authorization to transact business shall forfeit to the people of the state the sum of one hundred dolla
• § 18152 — The provisions of Sections 18146, 18147, 18148, 18149, 18150, and 18151 shall not affect branch offices which are opened and operating prior to September 18, 1959.
• § 18153 — An industrial loan company which maintains a branch office or branch offices shall give to each branch office maintained by it a specified designation by name or number and include in the designation
• § 18154 — With the prior written approval of the commissioner, an industrial loan company may close or discontinue the opertion of any branch office provided public notice thereof is given in such manner as the
• § 18165 — (a) Except as otherwise provided for in this division, an industrial loan company shall not transact business or make any loan provided for by this division at any other place of business than that de
• § 18165.1 — (a) The commissioner may, by order or regulation, exempt from the requirement of authorization by the commissioner set forth in Section 18165 any establishment of an office or place of business that t
• § 18166 — (a) If an industrial loan company desires to change its place of business to a street address other than that designated in its authorization, it shall give written notice to the commissioner who shal
• § 18190 — An industrial loan company may: (a) Loan money, secured or unsecured, with or without the pledge of its installment investment certificates.
• § 18191 — Sections 18008, 18009, 18010, 18212, 18212.
• § 18191.5 — Sections 18008, 18009, 18010, 18212, 18212.
• § 18192 — The payment of money, credit, goods, or things in action as consideration for any sale or assignment of, or order for, the payment of wages, salary, commissions, or other compensation for services, wh
• § 18205 — Except as otherwise provided for in this division, an industrial loan company shall not make any loan or purchase or discount any other obligation that provides for a repayment of principal over more
• § 18205.5 — Notwithstanding any other provision of this division, an industrial loan company may make a loan or acquire an obligation that is repayable in unequal periodic payments during its term and that is sec
• § 18206 — Consumer loans made and obligations acquired that are secured by a motor vehicle and repayable other than in equal periodic payments during its term shall not exceed 50 percent of all consumer loans a
• § 18207 — An industrial loan company may make a consumer loan that is not secured primarily by real property or other type of loan which is repayable at maturity by a single payment which includes principal and
• § 18208 — An industrial loan company may make a consumer loan in which the principal and charges are payable at any time during the loan, provided that the loan is secured at all times at least 100 percent by e
• § 18209 — An industrial loan company may make loans, purchase or discount notes, mortgages, contracts or other commercial paper insured by the Federal Housing Administrator, Veterans Administration, other feder
• § 18210 — (a) Except as provided in Sections 18205.
• § 18211 — No charge shall be collected unless a loan is made, except that an industrial loan company may charge, contract for, and receive a fee in connection with making a written commitment to make a loan, se
• § 18212 — (a) The charges by an industrial loan company, broker, and all other persons on any loan, forbearance of money, credit, goods, or things in action under this division, shall not exceed in the aggregat
• § 18212.1 — As an alternative to the charges authorized by Section 18212 a licensee may contract for and receive charges at a rate not exceeding five-sixths of 1 percent per month plus a percentage per month equa
• § 18212.2 — In addition to the charges authorized by Section 18212 or 18212.
• § 18213 — Notwithstanding any other provision of law not within this division, industrial loan companies making loans pursuant to this division may not precompute interest on such loans.
• § 18214 — For the purpose of computing the charges set forth in this article, a month is any period of 30 consecutive days.
• § 18215 — An industrial loan company may contract for, collect, and receive at the time of making the loan or at any time thereafter, any of the following: (a) Any cost of publication as required by law.
• § 18216 — (a) Notwithstanding Section 18211, an appraisal fee may be charged to an applicant or borrower by an industrial loan company in connection with an application or request for any loan having a face amo
• § 18217 — An escrow fee of a reasonable amount may be charged for any loan made which is secured primarily by real property when such services are actually performed.