reglab/housing_qa huggingface dataset:
CA Fin Code § 18101.5 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 1 - General|Section 18101.5.

18101.5.  Upon filing an application for approval of proposed articles of incorporation with the commissioner, or upon filing an amendment to the articles of a proposed industrial loan company changing the name of an existing corporation, the incorporators shall file an application for a certificate of reservation of the name of the proposed company as set forth in the articles of incorporation with the Secretary of State pursuant to Section 201 of the Corporations Code. The application filed with the Secretary of State shall recite the fact of the pendency of the application and the Secretary of State shall issue a certificate of reservation upon such an application for a certificate and upon payment of any required fee. Notwithstanding the provisions of Section 201 of the Corporations Code, the name contained in the certificate of reservation shall be reserved to the applicant until the commissioner refuses to issue a certificate of approval or, if a certificate is issued, as long as a certificate continues in force or effect, or for a period of up to one year from the date when the application is filed in accordance with this article, pending the applicant’s fulfillment of any requirements precedent to opening for business. The Secretary of State may, upon the request of the applicant and the approval of the commissioner, extend the reservation of the name for an additional six months.(Added by Stats. 1980, Ch. 428, Sec. 1.)
CA Fin Code § 18101.6 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 1 - General|Section 18101.6.

18101.6.  Companies authorized to engage in the industrial loan business after the effective date of the act which added this section shall have the words “industrial loan company,” “investment and loan,” “thrift company,” “thrift and loan company,” or “bank” as part of the company name included in the articles of incorporation.(Amended by Stats. 1996, Ch. 1064, Sec. 586. Effective January 1, 1997. Operative July 1, 1997.)
CA Fin Code § 18102 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 1 - General|Section 18102.

18102.  The articles of incorporation of an industrial loan company, in addition to the statement required by subdivision (b) of Section 202 of the Corporations Code, shall expressly state that its purpose is to engage in an industrial loan business pursuant to this division. The Secretary of State shall not file articles for the incorporation of an industrial loan company or an amendment to the articles of an existing corporation to engage in an industrial loan business unless there is filed with the Secretary of State a duplicate of the certificate issued by the commissioner pursuant to Section 18101.(Amended by Stats. 1980, Ch. 478, Sec. 4.)
CA Fin Code § 18103 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 1 - General|Section 18103.

18103.  An industrial loan company’s certificate to engage in the industrial loan business is not transferable or assignable.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18104 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 1 - General|Section 18104.

18104.  Except as otherwise authorized under existing law, no person, unless lawfully authorized to do business in this state under the provisions of this division and who is actually engaged in carrying on an industrial loan business, shall:(a) Do business under any name or title that contains the following terms:(1) “Industrial Loan Company.”(2) “Investment and Loan Company.”(3) “Thrift Company.”(4) “Thrift and Loan Company.”(b) Use any name or sign, or circulate or use any letterhead, billhead, circular, or paper, whatever, or advertise or represent in any manner that indicates or reasonably implies that the business is the character or kind of business carried on or transacted by an industrial loan business or is likely to lead any person to believe that the business is that of an industrial loan company.(Amended by Stats. 1992, Ch. 427, Sec. 35. Effective January 1, 1993.)
CA Fin Code § 18115 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 2 - Applications|Section 18115.

18115.  An application for authority to engage in the industrial loan business shall be in such form and contain such information as the commissioner may require and shall be accompanied by a filing fee of four hundred dollars ($400).(Amended by Stats. 1983, Ch. 725, Sec. 2.)
CA Fin Code § 18116 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 2 - Applications|Section 18116.

18116.  Upon the filing of an application, the commissioner shall make or cause to be made a careful investigation and examination relative to the following:(a) The background and experience of the organizers or incorporators, the proposed officers and managers, and the proposed stockholders and directors.(b) The need for industrial loan facilities or additional industrial loan facilities, as the case may be, in the community where the proposed industrial loan company is to be located, giving particular consideration to the adequacy of existing industrial loan facilities in the community.(c) The ability of the community to support the proposed industrial loan company, giving consideration to (1) the competition offered by existing industrial loan companies; (2) the previous industrial loan history of the community; and (3) the opportunities for profitable employment of industrial loan funds as indicated by the average demand for credit, the number of potential investors, the volume of industrial loan transactions and the business and industries of the community with particular regard to their stability, diversification and size.(d) Such other facts and circumstances bearing on the proposed industrial loan company as in the opinion of the commissioner may be relevant.(Amended by Stats. 1980, Ch. 974, Sec. 8.)
CA Fin Code § 18117 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 2 - Applications|Section 18117.

18117.  The commissioner, upon reasonable notice and opportunity to be heard, may deny the application for any of the following reasons:(a) The public convenience and advantage will not be promoted by the establishment of the proposed industrial loan company.(b) The industrial loan company is being formed for a purpose other than the legitimate objectives contemplated by this division.(c) The proposed capital structure is inadequate.(d) Any proposed officer, director, or shareholder of the applicant has, within the last 10 years, (1) been convicted of or pleaded nolo contendere to a crime, or (2) committed any act involving dishonesty, fraud, or deceit, which crime or act is substantially related to the qualifications, functions, or duties of a person engaged in business in accordance with the provisions of this division. (e) The applicant has not complied with all the applicable provisions of this division.(f) The proposed officers and directors do not have sufficient banking, industrial loan, finance company, or other experience to afford reasonable promise of successful operation.(g) A false statement of a material fact has been made in the application.(h) The applicant or any officer, director, or incorporator of the applicant has violated any provision of this division or the rules thereunder or any similar regulatory scheme of a foreign jurisdiction.(Amended by Stats. 1980, Ch. 974, Sec. 9.)
CA Fin Code § 18119 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 2 - Applications|Section 18119.

18119.  Within 30 days after an application is filed for authorization to establish an industrial loan company which intends to sell and issue its investment certificates, the commissioner shall give written notice of the filing of the application to each industrial loan company subject to this division.(Amended by Stats. 1986, Ch. 1011, Sec. 3. Effective September 23, 1986.)
CA Fin Code § 18120 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 2 - Applications|Section 18120.

18120.  Before the commissioner issues a certificate of authorization to operate as an industrial loan company, there must be paid in cash for the benefit of the corporation, the minimum capital stock and minimum paid-in surplus or reserve required pursuant to Article 3 (commencing with Section 18130) of this chapter.(Amended by Stats. 1977, Ch. 264.)
CA Fin Code § 18130 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 3 - Capitalization|Section 18130.

18130.  The capital stock of an industrial loan company incorporated under this division shall not be less than:(a) Five hundred thousand dollars ($500,000), if incorporated or commencing business on or before July 8, 1975.(b) Seven hundred fifty thousand dollars ($750,000), and a paid-in surplus of five hundred thousand dollars ($500,000), at the time business is commenced, if incorporated or commencing business on or after July 9, 1975.(c) Industrial loan companies which commenced business prior to July 9, 1975, and which do not meet the capital stock and paid-in surplus requirements of this section shall be governed until January 1, 1987, by Sections 18130, 18131, 18132, 18133, 18134, and 18135 of the Financial Code, as in effect on December 31, 1983.(Amended by Stats. 1983, Ch. 858, Sec. 4.)
CA Fin Code § 18131 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 3 - Capitalization|Section 18131.

18131.  In addition to the capital stock required by Section 18130, an industrial loan company which has branch offices or which opens an additional branch office or place of business shall have additional capital stock of fifty thousand dollars ($50,000) for each branch office.(Repealed and added by Stats. 1983, Ch. 858, Sec. 6.)
CA Fin Code § 18132 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 3 - Capitalization|Section 18132.

18132.  An industrial loan company may declare a dividend on its capital stock only if the company has minimum unimpaired capital of seven hundred fifty thousand dollars ($750,000) plus additional capital stock of fifty thousand dollars ($50,000) for each branch office.(Repealed and added by Stats. 1983, Ch. 858, Sec. 8.)
CA Fin Code § 18137 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 3 - Capitalization|Section 18137.

18137.  An industrial loan company shall not reduce its capital stock to an amount less than is required by this article to be maintained by such company or less than any indebtedness of such company other than its investment certificates.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18138 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 3 - Capitalization|Section 18138.

18138.  (a) No person may acquire in the aggregate 10 percent or more of the capital stock of, or the capital of, an industrial loan company through purchase, foreclosure pursuant to a pledge or hypothecation, or other devices without the written consent of the commissioner. Prior to any person acquiring 10 percent or more of the capital stock of, or the capital of, an industrial loan company, or prior to any person acquiring additional capital stock or capital of an industrial loan company which would result in an aggregate acquisition of 10 percent or more of the capital stock or of the capital, that person seeking the acquisition shall make written application to the commissioner requesting written consent for the acquisition.(b) No person may acquire in the aggregate 10 percent or more of the capital stock or other securities that have voting power or control over the management of a holding company as defined in Section 18025 through purchase, foreclosure pursuant to a pledge or hypothecation, or otherwise without the written consent of the commissioner. Prior to any person acquiring 10 percent or more of the capital stock or other securities that have voting power or control over the management of a holding company as described herein, or prior to any person acquiring additional capital stock or other securities that have voting power or control over the management of a holding company as described herein which would result in an aggregate acquisition of 10 percent or more of the capital stock or other securities, or prior to any person acquiring 10 percent or more of the capital stock or other securities that have voting power or control over the management of a holding company as described herein, through the conversion of a security into another security or through the exercise of a right to purchase or subscribe to another security, that person seeking the acquisition shall make written application to the commissioner requesting written consent for the acquisition notwithstanding subdivision (e) of Section 25017 of the Corporations Code.(c) With respect to the application required to be filed under subdivisions (a) and (b), the commissioner shall consent in writing or decline to consent within 60 days of the filing of a completed application.(d) An application for consent under subdivision (a) or (b) shall be in the form and contain information as the commissioner may by rule or order require and shall be accompanied by a fee of four hundred dollars ($400).(Amended by Stats. 1995, Ch. 479, Sec. 1. Effective October 2, 1995.)
CA Fin Code § 18139 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 3 - Capitalization|Section 18139.

18139.  A sale, merger, or conversion involving an industrial loan company and another industrial loan company, a bank, or a savings association is subject to Division 1.6 (commencing with Section 4800).(Amended by Stats. 2016, Ch. 277, Sec. 10. (AB 2907) Effective January 1, 2017.)
CA Fin Code § 18145 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 4 - Branch Offices|Section 18145.

18145.  Subject to Section 18145.1, when authorized by the commissioner as provided in this division, an industrial loan company, pursuant to a resolution of its board of directors, may establish and maintain one or more branch offices within the state.(Amended by Stats. 1997, Ch. 190, Sec. 1. Effective January 1, 1998.)
CA Fin Code § 18145.1 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 4 - Branch Offices|Section 18145.1.

18145.1.  (a) The commissioner may, by order or regulation, exempt from the requirement of authorization by the commissioner set forth in Section 18145 any establishment of an office or place of business that the commissioner finds not necessary or appropriate to regulate under that section.(b) In granting an exemption under this section, the commissioner may impose any conditions that the commissioner finds necessary or appropriate.(Added by Stats. 1997, Ch. 190, Sec. 2. Effective January 1, 1998.)
CA Fin Code § 18146 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 4 - Branch Offices|Section 18146.

18146.  The request for authority to establish a branch office shall be set forth in an application in such form and containing such information as the commissioner may require and shall be accompanied by an application fee of one hundred dollars ($100) for each new branch office.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18147 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 4 - Branch Offices|Section 18147.

18147.  The commissioner shall not approve an application for a branch office until the commissioner has ascertained to the commissioner’s satisfaction that the facts set forth in the application are true and:(a) That the public convenience and advantage will be promoted by the establishment of the proposed branch office.(b) That the industrial loan company has the capital required by this division.(c) That the industrial loan company has established branch operational controls.(d) That the financial condition of the industrial loan company justifies the establishment of the proposed branch office.(e) (1) As to an industrial loan company transacting business before October 1, 1985, that the industrial loan company is a member of the Federal Deposit Insurance Corporation, or (2) as to an industrial loan company commencing business on or after October 1, 1985, that the industrial loan company is a member of the Federal Deposit Insurance Corporation.(Amended by Stats. 1987, Ch. 787, Sec. 2. Operative January 1, 1989, by Sec. 7 of Ch. 787.)
CA Fin Code § 18148 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 4 - Branch Offices|Section 18148.

18148.  The failure of an industrial loan company to open and operate a branch office within six months after the commissioner has issued an order approving the application for a branch office shall automatically terminate the right of the industrial loan company to open the branch office. However, the commissioner may for good cause on written application made before the expiration of the six months’ period, extend for additional periods, not in excess of six months each, the time within which the branch office may be opened.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18149 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 4 - Branch Offices|Section 18149.

18149.  When the commissioner has approved an application for permission to establish a branch office and the applicant pays to the commissioner an additional fee of one hundred dollars ($100) for a certificate of authorization to transact business, the commissioner shall issue a certificate of authorization to transact business authorizing the opening and operation of the branch office and specifying the date on which and the conditions under which it may be opened and the place where it will be located.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18150 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 4 - Branch Offices|Section 18150.

18150.  An industrial loan company shall keep posted in a conspicuous place in each branch office the certificate of authorization to transact business issued by the commissioner permitting the operation of the branch office.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18151 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 4 - Branch Offices|Section 18151.

18151.  An industrial loan company which opens a branch office without first obtaining a certificate of authorization to transact business shall forfeit to the people of the state the sum of one hundred dollars ($100) for every day during which the branch office is maintained without authority.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18152 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 4 - Branch Offices|Section 18152.

18152.  The provisions of Sections 18146, 18147, 18148, 18149, 18150, and 18151 shall not affect branch offices which are opened and operating prior to September 18, 1959.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18153 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 4 - Branch Offices|Section 18153.

18153.  An industrial loan company which maintains a branch office or branch offices shall give to each branch office maintained by it a specified designation by name or number and include in the designation the word “branch” or the word “office” and shall prominently display the designation at the place of business of the branch.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18154 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 4 - Branch Offices|Section 18154.

18154.  With the prior written approval of the commissioner, an industrial loan company may close or discontinue the opertion of any branch office provided public notice thereof is given in such manner as the commissioner directs at least 30 days before the date of closing or discontinuance.After a branch office has been closed or discontinued, it may not be reopened without the approval of the commissioner and compliance with the applicable provisions of this division.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18165.1 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 5 - Change of Location|Section 18165.1.

18165.1.  (a) The commissioner may, by order or regulation, exempt from the requirement of authorization by the commissioner set forth in Section 18165 any establishment of an office or place of business that the commissioner finds not necessary or appropriate to regulate under that section.(b) In granting an exemption under this section, the commissioner may impose any conditions that the commissioner finds necessary or appropriate.(Added by Stats. 1997, Ch. 190, Sec. 4. Effective January 1, 1998.)
CA Fin Code § 18166 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 2 - Formation and Organization|ARTICLE 5 - Change of Location|Section 18166.

18166.  (a) If an industrial loan company desires to change its place of business to a street address other than that designated in its authorization, it shall give written notice to the commissioner who shall issue his or her written authorization of the change, provided the commissioner finds the change would not justify a negative finding with respect to any matters set forth in Section 18117 or 18147.(b) The commissioner may, by order or regulation, exempt from the requirement of authorization by the commissioner set forth in subdivision (a) any change of location of a place of business that the commissioner finds not necessary or appropriate to regulate under that section.(Amended by Stats. 1997, Ch. 190, Sec. 5. Effective January 1, 1998.)
CA Fin Code § 18190 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 1 - General|Section 18190.

18190.  An industrial loan company may:(a) Loan money, secured or unsecured, with or without the pledge of its installment investment certificates.(b) Collect and receive charges for loans in advance or otherwise.(c) Purchase, sell, or discount the following obligations: bona fide trust receipts, secured or unsecured choses in action, conditional sales contracts, or security agreements.(d) Purchase, sell, discount, or originate lease obligations.(Amended by Stats. 1998, Ch. 827, Sec. 10. Effective January 1, 1999.)