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Financial Code - FIN - FIN § 18245
Financial Code - FIN - FIN § 18245
(a) Subject to any regulations that the commissioner may issue, an industrial loan company may issue credit cards and may acquire or hold obligations resulting from the use of credit cards. (b) Except as the commissioner may otherwise provide by regulation or order, the acquiring
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Financial Code - FIN - FIN § 1825
Financial Code - FIN - FIN § 1825
(a) Any foreign (other nation) bank that holds a license to maintain an office may voluntarily surrender the license by filing the license and a report with the commissioner. However, any foreign (other nation) bank that holds licenses to maintain two or more offices may not volu
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Financial Code - FIN - FIN § 18265
Financial Code - FIN - FIN § 18265
An industrial loan company that has investment certificates outstanding shall not make any loan or purchase or discount any other obligation with a maturity of more than 60 months and 15 days unless all of the following conditions are met: (a) The loan or other obligation is secu
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Financial Code - FIN - FIN § 18266
Financial Code - FIN - FIN § 18266
(a) Except as set forth in subdivisions (b) and (c), any loan or obligation made or acquired by an industrial loan company that has investment certificates outstanding that is secured primarily by real property and has an outstanding principal balance of ten thousand dollars ($10
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Financial Code - FIN - FIN § 18266.1
Financial Code - FIN - FIN § 18266.1
An industrial loan company may make loans and acquire obligations, the proceeds of which are used for home improvements that are secured by real property having a market value of at least 100 percent of the principal amount owing on the loan being made by the industrial loan comp
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Financial Code - FIN - FIN § 18266.2
Financial Code - FIN - FIN § 18266.2
An industrial loan company shall file a written request for authorization to conduct business under Section 18266.1. The request shall include the following information: (a) A description of the company’s proposed plan of business. (b) The character, business qualifications, and
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Financial Code - FIN - FIN § 18266.3
Financial Code - FIN - FIN § 18266.3
The commissioner shall approve the request made pursuant to Section 18266.2 within 30 days after filing unless the commissioner has ascertained that the company has failed to show either of the following: (a) That the proposed plan of business has a reasonable promise of a succes
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Financial Code - FIN - FIN § 18268
Financial Code - FIN - FIN § 18268
An industrial loan company that has investment certificates outstanding shall not lend in the aggregate more than 5 percent of its capital stock and surplus not available for dividends as provided in Section 18319 upon the security of the stock of any one corporation and that sto
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Financial Code - FIN - FIN § 18269
Financial Code - FIN - FIN § 18269
An industrial loan company that has investment certificates outstanding shall not make any loan secured primarily by improved real property in a principal amount in excess of 20 percent of the company’s unimpaired capital stock and surplus not available for dividends as provided
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Financial Code - FIN - FIN § 18270
Financial Code - FIN - FIN § 18270
An industrial loan company may require the borrower to sign a contract of pledge, assignment, mortgage, security agreement, deed of trust, or trust receipt relating to real or personal property given by the borrower as security for the repayment of the loan and interest and charg
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Financial Code - FIN - FIN § 18271
Financial Code - FIN - FIN § 18271
An industrial loan company that has investment certificates outstanding shall not make loans to, or hold the obligations of, any one person as primary obligor in an aggregate principal amount in excess of 20 percent of the unimpaired capital stock and surplus of the company not a
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Financial Code - FIN - FIN § 18272
Financial Code - FIN - FIN § 18272
An industrial loan company shall diversify the loans and lease obligations it makes and other obligations it acquires, both as to the types of debtors and obligors, types of collateral, and as to terms and types of repayment schedules. The requirement for diversification notwiths
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Financial Code - FIN - FIN § 18274
Financial Code - FIN - FIN § 18274
The principal balances of loans made, or obligations purchased, by an industrial loan company that has investment certificates outstanding, which loans or obligations are secured by unimproved real property, shall not in the aggregate exceed 5 percent of the company’s assets unle
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Financial Code - FIN - FIN § 18290
Financial Code - FIN - FIN § 18290
(a) As used in this division: (1) “Credit life insurance” and “credit disability insurance” have the same meanings as defined in Section 779.2 of the Insurance Code. (2) “Credit loss-of-income insurance” means insurance issued to provide indemnity for payments becoming due on a s
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Financial Code - FIN - FIN § 18291
Financial Code - FIN - FIN § 18291
(a) If credit life or disability insurance is provided pursuant to this division, and if the insured borrower dies or becomes disabled during the term of the loan contract, the insurance shall be sufficient to pay the total amount due on the loan (excluding unearned charges) outs
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Financial Code - FIN - FIN § 18292
Financial Code - FIN - FIN § 18292
(a) If credit disability insurance is provided pursuant to this division, it shall not provide indemnity against the risk of a borrower becoming disabled for a period of less than 14 days. The insurance may provide indemnity for any single period of continuous disability of 14 da
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Financial Code - FIN - FIN § 18292.5
Financial Code - FIN - FIN § 18292.5
If credit loss-of-income insurance is provided pursuant to this division, it shall be subject to the following conditions: (a) The insurance shall provide indemnity in accordance with the terms of the policy after any single period of continuous unemployment of 45 days or less as
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Financial Code - FIN - FIN § 18293
Financial Code - FIN - FIN § 18293
If credit disability or loss-of-income insurance is provided pursuant to this division, the industrial loan company shall also deliver an understandable written statement to the borrower detailing the conditions when the borrower will be entitled to make a claim under the insuran
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Financial Code - FIN - FIN § 18294
Financial Code - FIN - FIN § 18294
An industrial loan company may collect the costs for insurance of tangible personal or real property offered as security for a loan, reasonably insured against loss for a reasonable term considering the circumstances of the loan, when the policy of insurance is made payable to th
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Financial Code - FIN - FIN § 18295
Financial Code - FIN - FIN § 18295
An industrial loan company may collect the costs of title insurance for loans secured primarily by real property. The costs for such insurance may be collected if: (1) The principal amount of the loan is at least one thousand dollars ($1,000); (2) The loan is secured by a lien of
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Financial Code - FIN - FIN § 18296
Financial Code - FIN - FIN § 18296
An industrial loan company may collect the costs of insurance of the type defined by subdivision (a) of Section 12640.02 of the Insurance Code. Costs authorized by this section are not included in the maximum charges which may be made under this division.
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Financial Code - FIN - FIN § 183
Financial Code - FIN - FIN § 183
“Law of the domicile” means: (a) When used with respect to a national bank, the law of the United States. (b) When used with respect to a state bank, the law of the state of the United States under which the bank is organized. (c) When used with respect to a foreign (other nation
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Financial Code - FIN - FIN § 1830
Financial Code - FIN - FIN § 1830
If the commissioner finds that any person has violated any provision of this chapter or of any regulation or order issued under this chapter, the commissioner may order the person to pay to the commissioner a civil penalty imposed pursuant to Section 329.
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Financial Code - FIN - FIN § 18300
Financial Code - FIN - FIN § 18300
(a) As used in this article, “open-end loan” means a loan or loans made by an industrial loan company pursuant to a loan agreement which expressly states that it is made pursuant to this section and pursuant to which: (1) The industrial loan company may permit the borrower to obt
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Financial Code - FIN - FIN § 18301
Financial Code - FIN - FIN § 18301
(a) Whenever authorized by the commissioner, an industrial loan company whose thrift obligations are insured by the Federal Deposit Insurance Corporation may make a secured line of credit loan. Security for line of credit loans shall be of a kind and class that has been declared