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Financial Code - FIN - FIN § 18020
Financial Code - FIN - FIN § 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).
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Financial Code - FIN - FIN § 18021
Financial Code - FIN - FIN § 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). (b) An industrial loan company which is insured, as that term is defined in Section
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Financial Code - FIN - FIN § 18022
Financial Code - FIN - FIN § 18022
No industrial loan company shall invest any of its funds, except as authorized in this division. Industrial loan companies may invest their funds in investments that are legal investments for commercial banks, including the capital stock, obligations, or other securities of one o
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Financial Code - FIN - FIN § 18022.5
Financial Code - FIN - FIN § 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 has qualified to sell its securities in this state pursuant to Part 2 (commenci
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Financial Code - FIN - FIN § 18023
Financial Code - FIN - FIN § 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 300 percent of the amount represented by its outstanding capital stock, surplus
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Financial Code - FIN - FIN § 18023.1
Financial Code - FIN - FIN § 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, which borrowed funds shall not be included in the borrowing limitations contained
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Financial Code - FIN - FIN § 18024
Financial Code - FIN - FIN § 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 commissioner.
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Financial Code - FIN - FIN § 18025
Financial Code - FIN - FIN § 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. This section shall not affect the right of a holding company to issue preferred stock or debentures when permitted to do so under the Corporate
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Financial Code - FIN - FIN § 18027
Financial Code - FIN - FIN § 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)).
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Financial Code - FIN - FIN § 18028
Financial Code - FIN - FIN § 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 Constitution of this state.
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Financial Code - FIN - FIN § 18029
Financial Code - FIN - FIN § 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 division and with the rules and regulations made by the commissioner.
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Financial Code - FIN - FIN § 1803
Financial Code - FIN - FIN § 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 authorizing the bank to maintain the office. (2) Paragraph (1) shall not be deemed
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Financial Code - FIN - FIN § 18030
Financial Code - FIN - FIN § 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 purchased obligation recorded therein.
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Financial Code - FIN - FIN § 1804
Financial Code - FIN - FIN § 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 license authorizing such bank to maintain the office at the new site. (b) If the c
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Financial Code - FIN - FIN § 18040
Financial Code - FIN - FIN § 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 its business. (b) Real property purchased at sale under judgments, decrees or m
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Financial Code - FIN - FIN § 18041
Financial Code - FIN - FIN § 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 business practices for industrial loan companies. (b) Real property acquired pursu
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Financial Code - FIN - FIN § 18042
Financial Code - FIN - FIN § 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 company or to authorize the construction of such building.
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Financial Code - FIN - FIN § 18043
Financial Code - FIN - FIN § 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 assistant secretary.
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Financial Code - FIN - FIN § 1805
Financial Code - FIN - FIN § 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 nondepositary agency, the bank shall not transact the business of accepting depo
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Financial Code - FIN - FIN § 18055
Financial Code - FIN - FIN § 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 with the business of an industrial loan company any statement or representation
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Financial Code - FIN - FIN § 18056
Financial Code - FIN - FIN § 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.
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Financial Code - FIN - FIN § 18057
Financial Code - FIN - FIN § 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.
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Financial Code - FIN - FIN § 18058
Financial Code - FIN - FIN § 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 the fact.
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Financial Code - FIN - FIN § 1806
Financial Code - FIN - FIN § 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 nondepositary agencies, the following provisions of this division shall apply to
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Financial Code - FIN - FIN § 18060
Financial Code - FIN - FIN § 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, or affiliation with, any other entity unless the advertisement also discloses in