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Financial Code - FIN - FIN § 18131
Financial Code - FIN - FIN § 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 capital stock of fifty thousand dollars ($50,000) for each branch office.
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Financial Code - FIN - FIN § 18132
Financial Code - FIN - FIN § 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 stock of fifty thousand dollars ($50,000) for each branch office.
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Financial Code - FIN - FIN § 18137
Financial Code - FIN - FIN § 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 than its investment certificates.
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Financial Code - FIN - FIN § 18138
Financial Code - FIN - FIN § 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, or other devices without the written consent of the commissioner. Prior to any
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Financial Code - FIN - FIN § 18139
Financial Code - FIN - FIN § 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 1.6 (commencing with Section 4800).
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Financial Code - FIN - FIN § 18145
Financial Code - FIN - FIN § 18145
Subject to Section 18145.1, when authorized by the commissioner as provided in this division, an industrial loan company, pursuant to a resolution of its board of directors, may establish and maintain one or more branch offices within the state.
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Financial Code - FIN - FIN § 18145.1
Financial Code - FIN - FIN § 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 the commissioner finds not necessary or appropriate to regulate under that sectio
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Financial Code - FIN - FIN § 18146
Financial Code - FIN - FIN § 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 application fee of one hundred dollars ($100) for each new branch office.
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Financial Code - FIN - FIN § 18147
Financial Code - FIN - FIN § 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: (a) That the public convenience and advantage will be promoted by the establis
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Financial Code - FIN - FIN § 18148
Financial Code - FIN - FIN § 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 automatically terminate the right of the industrial loan company to open the branch offic
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Financial Code - FIN - FIN § 18149
Financial Code - FIN - FIN § 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 certificate of authorization to transact business, the commissioner shall issue a certifi
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Financial Code - FIN - FIN § 18150
Financial Code - FIN - FIN § 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 the branch office.
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Financial Code - FIN - FIN § 18151
Financial Code - FIN - FIN § 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 dollars ($100) for every day during which the branch office is maintained without aut
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Financial Code - FIN - FIN § 18152
Financial Code - FIN - FIN § 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.
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Financial Code - FIN - FIN § 18153
Financial Code - FIN - FIN § 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 the word “branch” or the word “office” and shall prominently display the designa
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Financial Code - FIN - FIN § 18154
Financial Code - FIN - FIN § 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 commissioner directs at least 30 days before the date of closing or discontinua
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Financial Code - FIN - FIN § 18165
Financial Code - FIN - FIN § 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 designated in its certificate of authorization issued pursuant to Section 18101 or
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Financial Code - FIN - FIN § 18165.1
Financial Code - FIN - FIN § 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 the commissioner finds not necessary or appropriate to regulate under that sectio
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Financial Code - FIN - FIN § 18166
Financial Code - FIN - FIN § 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 shall issue his or her written authorization of the change, provided the commissione
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Financial Code - FIN - FIN § 18190
Financial Code - FIN - FIN § 18190
An industrial loan company may: (a) Loan money, secured or unsecured, with or without the pledge of its installment investment certificates. (b) Collect and receive charges for loans in advance or otherwise. (c) Purchase, sell, or discount the following obligations: bona fide tru
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Financial Code - FIN - FIN § 18191
Financial Code - FIN - FIN § 18191
Sections 18008, 18009, 18010, 18212, 18212.1, 18214, 18219, 18220, 18222, 18230 through 18234, 18290 through 18295, and 18439 do not apply to: (a) Any bona fide loan of a principal amount of ten thousand dollars ($10,000) or more or to an industrial loan company in connection wit
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Financial Code - FIN - FIN § 18191.5
Financial Code - FIN - FIN § 18191.5
Sections 18008, 18009, 18010, 18212, 18212.1, and 18214 do not apply to: (a) Any bona fide loan of a principal amount of five thousand dollars ($5,000) or more, or to an industrial loan company in connection with any bona fide loan of a principal amount of five thousand dollars (
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Financial Code - FIN - FIN § 18192
Financial Code - FIN - FIN § 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, whether earned or to be earned, is, for the purposes of regulation under this divi
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Financial Code - FIN - FIN § 18205
Financial Code - FIN - FIN § 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 than 120 months and 30 days.
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Financial Code - FIN - FIN § 18205.5
Financial Code - FIN - FIN § 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 secured by either real property or personal property. In order to ensure the safety