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Financial Code - FIN - FIN § 18302
Financial Code - FIN - FIN § 18302
An industrial loan company shall file a written request for authorization to conduct business under subdivision (a) of Section 18301. The request shall include all of the following information: (a) A description of the company’s proposed plan of business. (b) The character, busin
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Financial Code - FIN - FIN § 18303
Financial Code - FIN - FIN § 18303
The commissioner shall approve the request made pursuant to Section 18302 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 successf
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Financial Code - FIN - FIN § 1831
Financial Code - FIN - FIN § 1831
If, after notice and a hearing, the commissioner finds any of the following with respect to a foreign (other nation) bank that is licensed to maintain an office, the commissioner may issue an order suspending or revoking the license of the bank: (a) That the bank has violated any
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Financial Code - FIN - FIN § 18315
Financial Code - FIN - FIN § 18315
(a) When authorized to conduct business pursuant to this division, an industrial loan company may sell and issue its investment certificates subject to the provisions of this division. The commissioner may, by written order directed to a company or by rule or regulation, impose t
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Financial Code - FIN - FIN § 18316
Financial Code - FIN - FIN § 18316
An industrial loan company may, in addition to the sale of installment investment certificates with loans, sell or negotiate investment certificates either in certificates, or in receipt book form. The certificates may provide for the payment of money at any time, either fixed or
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Financial Code - FIN - FIN § 18317
Financial Code - FIN - FIN § 18317
No company may have investment certificates outstanding with a person or related persons in an aggregate amount in excess of 20 percent of the unimpaired capital stock and surplus of the company not available for dividends as provided in Section 18319.
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Financial Code - FIN - FIN § 18318
Financial Code - FIN - FIN § 18318
Investment or thrift certificates may be issued to or in the name of a minor and as such shall be for the exclusive right and benefit of such minor and may be redeemed in whole or part by said minor or his order and payment so made is a valid release and discharge to the company
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Financial Code - FIN - FIN § 18318.5
Financial Code - FIN - FIN § 18318.5
An investment or thrift certificate that is a multiple-party account as defined in Section 5132 of the Probate Code is governed by Part 2 (commencing with Section 5100) of Division 5 of the Probate Code.
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Financial Code - FIN - FIN § 18319
Financial Code - FIN - FIN § 18319
In no event shall an industrial loan company have outstanding at any time its investment certificates (exclusive of those hypothecated with the company issuing them) in an aggregate sum in excess of 20 times the aggregate amount of its paid-up and unimpaired capital and such of i
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Financial Code - FIN - FIN § 1832
Financial Code - FIN - FIN § 1832
(a) If the commissioner finds that any of the factors set forth in Section 1831 is true with respect to any foreign (other nation) bank that is licensed to maintain an office and that it is necessary, in case the bank is licensed to transact business in this state, for the protec
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Financial Code - FIN - FIN § 18320
Financial Code - FIN - FIN § 18320
Notwithstanding Section 18319, an industrial loan company shall in no event: (a) Have outstanding at any time during its first 12 months of operation as an industrial loan company under this division, its investment certificates (exclusive of those hypothecated with the company i
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Financial Code - FIN - FIN § 18321
Financial Code - FIN - FIN § 18321
(a) Nothing in this division authorizes an industrial loan company to receive demand deposits. (b) Subject to Section 18315, an industrial loan company that is a member of the Federal Deposit Insurance Corporation pursuant to Section 18521.5 may use the term “certificate of depos
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Financial Code - FIN - FIN § 18322
Financial Code - FIN - FIN § 18322
An industrial loan company shall obtain the written consent of the commissioner prior to accepting any moneys pursuant to Section 17409. The commissioner may, by regulation or order, impose or revise limitations and requirements, including, but not limited to, liquidity and reser
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Financial Code - FIN - FIN § 18325
Financial Code - FIN - FIN § 18325
(a) An industrial loan company shall not impose any charge on a periodic investment or thrift certificate, or on an investor in an account evidenced by such certificate, for the failure of an investor to invest, or for the late investment of, any agreed periodic installment inves
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Financial Code - FIN - FIN § 1833
Financial Code - FIN - FIN § 1833
Any foreign (other nation) bank whose license to maintain an office is suspended or revoked shall immediately surrender the license to the commissioner.
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Financial Code - FIN - FIN § 18339
Financial Code - FIN - FIN § 18339
As of the operative date of this section: (a) There is established an Industrial Loan Account in the Financial Institutions Fund in the State Treasury. (b) All money on deposit with the Treasurer in the State Corporations Fund that has been received or collected by the Commission
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Financial Code - FIN - FIN § 1834
Financial Code - FIN - FIN § 1834
(a) Any foreign (other nation) bank to which an order is issued under Section 1831 or 1832 may apply to the commissioner to modify or rescind such order. The commissioner shall not grant the application unless he or she finds that it is in the public interest to do so and that it
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Financial Code - FIN - FIN § 18340
Financial Code - FIN - FIN § 18340
All money received or collected by the commissioner under this division or any other law relating to industrial loan companies or the industrial loan business shall be deposited in the State Treasury to the credit of the Industrial Loan Account of the Financial Institutions Fund.
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Financial Code - FIN - FIN § 18340.5
Financial Code - FIN - FIN § 18340.5
All expenses of the department in administering this division and other laws relating to industrial loan companies or the industrial loan business shall be paid out of the Industrial Loan Account; and, except as otherwise provided in Section 276 or 277, the Industrial Loan Accoun
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Financial Code - FIN - FIN § 18342
Financial Code - FIN - FIN § 18342
Industrial loan companies have the powers specified in this division. In addition, industrial loan companies have the general powers conferred upon corporations by the General Corporation Law. The powers granted, including those granted by the General Corporation Law, are subject
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Financial Code - FIN - FIN § 18343
Financial Code - FIN - FIN § 18343
The commissioner may require an industrial loan company to establish and maintain reasonable reserves for loans made, and contracts or other obligations purchased or discounted in accordance with sound business practices. The commissioner may by rule or order: (a) Establish reaso
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Financial Code - FIN - FIN § 18344
Financial Code - FIN - FIN § 18344
An industrial loan company shall not conduct the business of making loans under this division, within any office, room, or place of business in which any other business is solicited or engaged in, or in association or conjunction therewith, except as is authorized in writing by t
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Financial Code - FIN - FIN § 18345
Financial Code - FIN - FIN § 18345
An industrial loan company shall notify the commissioner of every change in the officers, directors and management personnel of the company and of each branch of the company within 15 days of such change. Such report shall include a complete identification of each person assuming
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Financial Code - FIN - FIN § 18346
Financial Code - FIN - FIN § 18346
The commissioner may require each industrial loan company to file with the commissioner a fidelity bond indemnifying the industrial loan company against loss of money or property by act of any officer, director or employee of such company, having access to assets owned by or pled
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Financial Code - FIN - FIN § 18346.1
Financial Code - FIN - FIN § 18346.1
(a) In lieu of providing a bond required pursuant to Section 18346, a licensee may deposit with the commissioner security in an amount as the commissioner may determine, for the protection of the public against loss suffered through theft or mysterious disappearance. Such securit