Ca_Law

statute | California

Financial Code - FIN - FIN § 18321

  • UIDca_leginfo_codes:fin-18321
  • CitationFinancial Code - FIN - FIN § 18321
  • Court / bodyCalifornia Legislative Counsel
  • Decision dateN/A
  • CollectionPUBINFO_2025
  • SourceOriginal

Summary

(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

Text

(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 deposit” as defined in Section 18003.6 with respect to an investment certificate that does not authorize either of the following:
(1)
Redemption prior to its maturity.
(2)
Reduction of the interest rate payable thereon other than a variable interest rate.

Retrieval chunks

  • #1 | 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 deposit” as defined in Section 18003.6 wi…