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Financial Code - FIN - FIN § 18206
Financial Code - FIN - FIN § 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 and obligations that are secured by motor vehicles or 20 percent of assets, which
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Financial Code - FIN - FIN § 18207
Financial Code - FIN - FIN § 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 charges. In no event shall such loans have a term in excess of one year or be m
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Financial Code - FIN - FIN § 18208
Financial Code - FIN - FIN § 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 either investment certificates of an industrial loan company authorized to conduc
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Financial Code - FIN - FIN § 18209
Financial Code - FIN - FIN § 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 federal agency or an agency of the state. Loans so insured may be made for a term up
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Financial Code - FIN - FIN § 18210
Financial Code - FIN - FIN § 18210
(a) Except as provided in Sections 18205.5 and 18209 and subject to subdivisions (b) and (c), an industrial loan company shall not make any loan or purchase or discount any note secured primarily by real property unless the loan or other obligation is repayable in substantially e
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Financial Code - FIN - FIN § 18211
Financial Code - FIN - FIN § 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, secured by real property having a face amount in excess of five thousand dollars (
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Financial Code - FIN - FIN § 18212
Financial Code - FIN - FIN § 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 aggregate: (1) Two percent per month on that part of the unpaid principal balance of any
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Financial Code - FIN - FIN § 18212.1
Financial Code - FIN - FIN § 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 equal to one-twelfth of the annual rate prevailing on the 25th day of the second mon
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Financial Code - FIN - FIN § 18212.2
Financial Code - FIN - FIN § 18212.2
In addition to the charges authorized by Section 18212 or 18212.1 an industrial loan company may contract for and receive an administrative fee, which shall be fully earned immediately upon making the loan, with respect to a loan of a principal amount of not more than two thousan
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Financial Code - FIN - FIN § 18213
Financial Code - FIN - FIN § 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.
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Financial Code - FIN - FIN § 18214
Financial Code - FIN - FIN § 18214
For the purpose of computing the charges set forth in this article, a month is any period of 30 consecutive days.
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Financial Code - FIN - FIN § 18215
Financial Code - FIN - FIN § 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. (b) The statutory fee paid by it to any public officer for acknowledging, filing, reco
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Financial Code - FIN - FIN § 18216
Financial Code - FIN - FIN § 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 amount in excess of five thousand dollars ($5,000) that is secured primarily by rea
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Financial Code - FIN - FIN § 18217
Financial Code - FIN - FIN § 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. Such fee shall be considered reasonable when paid to a company licensed to do business under the Escrow Law, Division 6 (co
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Financial Code - FIN - FIN § 18218
Financial Code - FIN - FIN § 18218
Notwithstanding any other provision of this division, an industrial loan company, in the collection of a delinquent loan of an unpaid principal balance, may do any of the following: (a) Collect and receive the court costs and reasonable attorney’s fees allowed by a court in a jud
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Financial Code - FIN - FIN § 18218.5
Financial Code - FIN - FIN § 18218.5
With respect to a loan under this division, a fee not to exceed fifteen dollars ($15) for return by a depository institution of a dishonored check, negotiable order of withdrawal, or share draft may be charged and collected by the licensee. The fee is not included in charges as d
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Financial Code - FIN - FIN § 18219
Financial Code - FIN - FIN § 18219
An industrial loan company shall not induce or permit any borrower to split up or divide any loan and thereby contract for or receive a higher rate of charge than would otherwise be permitted by this division.
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Financial Code - FIN - FIN § 18220
Financial Code - FIN - FIN § 18220
An industrial loan company shall not induce any spouses, jointly or severally, to become obligated, directly or contingently or both, under more than one contract of loan at the same time, with the result of obtaining a higher rate of charge than would otherwise be permitted by t
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Financial Code - FIN - FIN § 18221
Financial Code - FIN - FIN § 18221
Nothing in this division shall prevent an industrial loan company from transacting loan contracts with different borrowers and from contracting for and receiving, up to and including the highest rate of charge permitted by this division at the time of making said loans; provided,
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Financial Code - FIN - FIN § 18222
Financial Code - FIN - FIN § 18222
An industrial loan company shall permit payment to be made in advance in any amount on any contract of loan at any time. The industrial loan company shall apply such payment first to all charges due up to the date of such payment and the remainder to the loan balance.
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Financial Code - FIN - FIN § 18230
Financial Code - FIN - FIN § 18230
Each industrial loan company shall display prominently in each place of business a full and accurate schedule of the maximum charges to be made and the method of computing the same. The schedule is subject to the approval of the commissioner.
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Financial Code - FIN - FIN § 18231
Financial Code - FIN - FIN § 18231
Each industrial loan company shall: (a) Deliver or cause to be delivered to the borrowers, or any one thereof, at the time the loan is made, a written statement showing in clear and distinct terms the name and address of such company and the broker, if any. The statement shall sh
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Financial Code - FIN - FIN § 18233
Financial Code - FIN - FIN § 18233
An industrial loan company shall deliver or cause to be delivered to the person making any payment in person in cash at any office of the company, at the time such payment is made on account of any loan, a plain and complete receipt showing the total amount received and identifyi
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Financial Code - FIN - FIN § 18234
Financial Code - FIN - FIN § 18234
An industrial loan company shall upon repayment of any loan in full, cancel or plainly mark “paid” and return to the borrower or person making final payment, the note evidencing the loan. If such borrower is not otherwise obligated to such company, the company shall release all s
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Financial Code - FIN - FIN § 18235
Financial Code - FIN - FIN § 18235
An industrial loan company shall not take any note, promise to pay, or security agreement that does not accurately disclose the actual amount of the loan, the time for which it is made, and the agreed rate of charge, nor any instrument in which blanks are left to be filled in aft