California Financial Code ARTICLE 1 - General

  • Section 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...
  • Section 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...
  • Section 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...
  • Section 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...
  • Section 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...
  • Section 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...
  • Section 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...
  • Section 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...
  • Section 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...
  • Section 18347.
    The commissioner may establish rules and regulations which are reasonable and necessary to carry out the purposes and provisions of this division, including rules and...
  • Section 18349.
    The commissioner may, upon reasonable notice and opportunity to be heard, suspend or revoke the license of an industrial loan company if the commissioner finds...
  • Section 18349.5.
    (a) For the purposes of this section, the following definitions are applicable:(1) “Account holder” includes, in the case of an investment certificate account, an investment certificate holder;...
  • Section 18350.
    Each industrial loan company shall pay to the commissioner its pro rata share of all costs and expenses of the department in administering this division...
  • Section 18351.
    On or before the 30th day of November in each year, the commissioner shall notify each industrial loan company by mail of the amount assessed...
  • Section 18352.
    In the levying and collection of an assessment pursuant to Section 18350, an industrial loan company shall not be assessed for nor be permitted to...
  • Section 18353.
    If an industrial loan company fails to pay the assessment provided in Section 18350 on or before the 30th day of December following the day...
  • Section 18354.
    The commissioner may require the attendance of witnesses and examine under oath all persons whose testimony he requires relative to the affairs of an industrial...
  • Section 18355.
    Whenever, after an examination, investigation or hearing under this division, the commissioner deems it of public interest or advantage, he may certify a record to...
  • Section 18356.
    The commissioner may order any industrial loan company to desist from any conduct which the commissioner finds in violation of this division or any rule...
  • Section 18357.
    (a) If it appears to the commissioner that an industrial loan company has violated or failed to comply with the provisions of its articles of incorporation,...
  • Section 18358.
    If it appears to the commissioner that an industrial loan company is conducting business in an unsafe, unsound, or injurious manner, the commissioner may, by...
  • Section 18359.
    Whenever the commissioner is authorized to issue an order pursuant to Section 18357 or Section 18358 of this division, the commissioner may issue an order...
  • Section 18360.
    The company named in any order issued pursuant to this division for which no express hearing right is provided, including Sections 18356, 18357, 18358, 18359,...
  • Section 18361.
    After any order is made final, the industrial loan company shall have 10 days in which suit may be commenced to restrain enforcement of such...
  • Section 18362.
    (a) If the commissioner believes that an industrial loan company or its directors, officers, agents, or employees have violated or are about to violate any of...
  • Section 18363.
    The commissioner may order an industrial loan company to suspend the redemption of investment certificates or the payment of the liabilities of the company or...
  • Section 18364.
    After an order of suspending or limiting the payment of liabilities is effective and until that order is rescinded, the industrial loan company shall make...
  • Section 18365.
    The authority granted to the commissioner by Section 18363, may be exercised by him in conjunction with all other powers granted by this chapter, or...
  • Section 18366.
    Every order, decision, license, or other official act of the commissioner is subject to review in accordance with law. Upon review, the burden of proof...
  • Section 18367.
    (a) If at any time the commissioner is of the opinion that the further sale of investment certificates by an industrial loan company would be unfair,...
  • Section 18368.
    (a) The commissioner may make the agreements that he or she deems necessary or appropriate in exercising his or her powers.(b) (1) The agreements authorized under subdivision (a)...

Last modified: October 22, 2018