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Financial Code - FIN - FIN § 18425.17

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18425.17

The order of the court approving the final statement on liquidation shall provide for the destruction or other disposition of the books and records of the company or pertaining to the liquidation of the company, and the court may declare the company dissolved as a corporation. Th

Financial Code - FIN - FIN § 18425.2

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18425.2

All claims, demands, or causes of action of creditors, and persons other than investors against any property owned or held by it in trust, or otherwise, must be presented to the liquidator in writing, verified by the claimant, or someone on his or her behalf, within the period sp

Financial Code - FIN - FIN § 18425.3

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18425.3

If the liquidator doubts the validity of any claim, the liquidator may reject the claim and serve notice of rejection upon the claimant either by certified mail or personally. A notice of rejection given by mail, addressed to the claimant at the address set forth in the claim, sh

Financial Code - FIN - FIN § 18425.4

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18425.4

A claim shall set forth, under oath, on the form prescribed by the commissioner, all of the following: (a) The particulars of the claim, and the consideration for the claim. (b) Whether the claim is secured or unsecured, and, if secured, the nature and amount of the security. (c)

Financial Code - FIN - FIN § 18425.5

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18425.5

When an investment certificate holder is also a debtor, the liquidator may offset any balance due the investment certificate holder against the debt and the interest due on that debt up to the date of offset, in an amount not to exceed the amount of the debt or the amount of the

Financial Code - FIN - FIN § 18425.6

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18425.6

The amount of a claim of an investment certificate holder shall be the amount which the investment certificate holder would have been entitled to withdraw as of the date of taking possession, pursuant to Section 18415, plus interest thereon accrued to that date, without regard to

Financial Code - FIN - FIN § 18425.7

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18425.7

When the time fixed for the presentation of claims has expired, the liquidator shall make in duplicate a full and complete list of all claims presented, including and specifying those claims that have been rejected by the liquidator, and a list of all claims of investment certifi

Financial Code - FIN - FIN § 18425.8

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18425.8

Objections to any claim not rejected by the liquidator may be made by any person interested by filing his or her objections, in writing, with the liquidator, who shall present the objections to the court. The court shall dispose of the objections or may order reference for that p

Financial Code - FIN - FIN § 18425.9

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18425.9

The liquidator, with the approval of the court, may pay one or more dividends to investment certificate holders prior to the expiration of the time for filing claims. After the time for filing of claims has elapsed, the liquidator, after obtaining approval of the court, may pay o

Financial Code - FIN - FIN § 18427

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18427

Unless the context otherwise requires, in this article: (a) “Offer” or “offer to sell” includes every attempt or offer to dispose of, or solicitation of an offer to buy, a security for value. (b) “Sale” or “sell” includes every contract of sale of, contract to sell, or dispositio

Financial Code - FIN - FIN § 18427.1

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18427.1

No industrial loan company organized under the laws of this state shall offer or sell any security issued by it unless the commissioner has issued a permit authorizing such sale.

Financial Code - FIN - FIN § 18427.10

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18427.10

Nothing contained in this article shall affect the Corporate Securities Law of 1968, Division 1 (commencing with Section 25000) of Title 4 of the Corporations Code.

Financial Code - FIN - FIN § 18427.11

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18427.11

The commissioner may by regulation or order restrict, limit, prohibit or otherwise condition the uses of the proceeds from the sale of securities, the extent to which a security may be included within the definition of capital, or the extent to which the proceeds from the sale of

Financial Code - FIN - FIN § 18427.2

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18427.2

An application for a permit shall be in such form and contain such information as the commissioner may prescribe.

Financial Code - FIN - FIN § 18427.3

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18427.3

The commissioner shall charge and collect fees for applications filed under this article as fixed in this section. (a) The fee for a negotiating permit shall be fifty dollars ($50). (b) The fee for a permit to exchange a security or to make any change in the rights, preferences,

Financial Code - FIN - FIN § 18427.4

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18427.4

If the commissioner finds that the proposed sale of securities is fair, just, and equitable, he or she shall issue to the applicant a permit authorizing it to offer and sell the securities in such amount and upon such terms and conditions as he or she may provide in the permit. I

Financial Code - FIN - FIN § 18427.5

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18427.5

The commissioner may impose conditions in any permit issued under Section 18427.4, requiring the deposit in escrow of securities, imposing a legend condition restricting the transferability thereof, impounding the proceeds from the sale thereof, limiting the expense in connection

Financial Code - FIN - FIN § 18427.6

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18427.6

Every permit issued pursuant to Section 18427.4 shall recite that it is permissive only and does not constitute a recommendation or endorsement of the securities permitted to be sold.

Financial Code - FIN - FIN § 18427.7

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18427.7

The commissioner may amend, alter, suspend, or revoke any permit issued pursuant to Section 18427.4.

Financial Code - FIN - FIN § 18427.8

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18427.8

Whenever an industrial loan company applies for a permit to issue any security or to deliver any other consideration (whether or not such security or such transaction is exempt from, or not subject to, the provisions of Section 18427.1) in exchange for one or more bona fide outst

Financial Code - FIN - FIN § 18427.9

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18427.9

There shall be exempted from the provisions of Section 18427.1 all of the following: (a) (1) Any offer, not involving a public offering, to an affiliate or to a person of the type described in subdivision (i) of Section 25102 of the Corporations Code or in the regulations of the

Financial Code - FIN - FIN § 18435

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18435

Except as otherwise provided in this division, any person who willfully violates any provision of this division, or who willfully violates any rule or order adopted pursuant to this division, shall, upon conviction, be punished by a fine of not more than ten thousand dollars ($10

Financial Code - FIN - FIN § 18436

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18436

An industrial loan company shall not, directly or indirectly, make any loan of money or property to or guarantee the obligation of any of its directors or officers, or officers and directors of its holding company, or officers and directors of its affiliates.

Financial Code - FIN - FIN § 18437

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18437

(a) Except as provided in subdivision (b), an industrial loan company shall not make loans to, or purchase any obligations from, persons who do not reside or have a place of business in the State of California, unless those loans or obligations comply with all of the following co

Financial Code - FIN - FIN § 18438

statute | California | California Legislative Counsel

Financial Code - FIN - FIN § 18438

If a loan is made or other thing is purchased or discounted in violation of Section 18271, 18272, 18273, 18274, or 18437, the officers, directors and shareholders of the industrial loan company, its holding company, or its affiliates participating therein or knowingly approving t