reglab/housing_qa huggingface dataset:
CA Fin Code § 18231 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 3 - Disclosure and Loan Documents|Section 18231.

18231.  Each industrial loan company shall:(a) Deliver or cause to be delivered to the borrowers, or any one thereof, at the time the loan is made, a written statement showing in clear and distinct terms the name and address of such company and the broker, if any. The statement shall show the date, amount, and maturity of the loan contract, how and when repayable, the nature of the security, if any, for the loan, and the agreed rate of charge.(b) Obtain from the borrower a signed statement as to whether any person has performed any act as a broker in connection with the making of the loan. If such statement discloses a broker or other person has participated, the company shall obtain a full statement of all sums paid or payable to the broker or other person.(c) Keep the statements required by this section for a period of two years from and after the date the loan has been paid in full, or has matured according to its terms, or has been charged off.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18233 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 3 - Disclosure and Loan Documents|Section 18233.

18233.  An industrial loan company shall deliver or cause to be delivered to the person making any payment in person in cash at any office of the company, at the time such payment is made on account of any loan, a plain and complete receipt showing the total amount received and identifying the loan contract upon which such payment is applied, and showing the unpaid balance of the loan.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18234 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 3 - Disclosure and Loan Documents|Section 18234.

18234.  An industrial loan company shall upon repayment of any loan in full, cancel or plainly mark “paid” and return to the borrower or person making final payment, the note evidencing the loan. If such borrower is not otherwise obligated to such company, the company shall release all security for such loan, endorse and return any certificate of ownership, and return to the borrower any security agreement, assignment, or order signed by the borrower, except such as are a part of the court record in any action, or such as have been delivered to a third person for the purpose of carrying out the terms thereof.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18235 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 3 - Disclosure and Loan Documents|Section 18235.

18235.  An industrial loan company shall not take any note, promise to pay, or security agreement that does not accurately disclose the actual amount of the loan, the time for which it is made, and the agreed rate of charge, nor any instrument in which blanks are left to be filled in after execution.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18245 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 4 - Credit Cards|Section 18245.

18245.  (a) Subject to any regulations that the commissioner may issue, an industrial loan company may issue credit cards and may acquire or hold obligations resulting from the use of credit cards.(b) Except as the commissioner may otherwise provide by regulation or order, the acquiring and holding of obligations pursuant to subdivision (a) are not subject to Article 2 (commencing with Section 18205) or Article 6.5 (commencing with Section 18300).(Added by Stats. 1998, Ch. 827, Sec. 11. Effective January 1, 1999.)
CA Fin Code § 18265 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 5 - Limitations and Regulations of Loans and Purchased Obligations|Section 18265.

18265.  An industrial loan company that has investment certificates outstanding shall not make any loan or purchase or discount any other obligation with a maturity of more than 60 months and 15 days unless all of the following conditions are met:(a) The loan or other obligation is secured.(b) The property, or collateral securing the loan or other obligation, is of a kind or class that has been declared eligible by regulation of the commissioner.(c) The aggregate principal balance of such loans and other obligations outstanding with a remaining maturity of more than 60 months and 15 days at any time shall not exceed a percentage of the aggregate principal balance due on all loans and other obligations owing to the industrial loan company by rule of the commissioner.(Amended by Stats. 1983, Ch. 858, Sec. 21.)
CA Fin Code § 18266.1 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 5 - Limitations and Regulations of Loans and Purchased Obligations|Section 18266.1.

18266.1.  An industrial loan company may make loans and acquire obligations, the proceeds of which are used for home improvements that are secured by real property having a market value of at least 100 percent of the principal amount owing on the loan being made by the industrial loan company or obligation being acquired by the industrial loan company and on prior encumbrances, except nondelinquent tax liens, secured by the same real property. Home improvements means additions, alterations, or modifications to owner-occupied property consisting of one to four dwelling units and appurtenant buildings thereto or to the real property containing same.(Amended by Stats. 1998, Ch. 827, Sec. 12. Effective January 1, 1999.)
CA Fin Code § 18266.2 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 5 - Limitations and Regulations of Loans and Purchased Obligations|Section 18266.2.

18266.2.  An industrial loan company shall file a written request for authorization to conduct business under Section 18266.1. The request shall include the following information:(a) A description of the company’s proposed plan of business.(b) The character, business qualifications, and other experience of the proposed officers and managers directing the line of business for which authorization is requested.(c) Any other facts and circumstances bearing on the proposal that, in the opinion of the commissioner, may be relevant.(Added by Stats. 1989, Ch. 889, Sec. 2.)
CA Fin Code § 18266.3 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 5 - Limitations and Regulations of Loans and Purchased Obligations|Section 18266.3.

18266.3.  The commissioner shall approve the request made pursuant to Section 18266.2 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 successful operation.(b) That the company has a person with the necessary business qualifications, experience or ability to direct and manage the operations of the plan of business.(Added by Stats. 1989, Ch. 889, Sec. 3.)
CA Fin Code § 18268 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 5 - Limitations and Regulations of Loans and Purchased Obligations|Section 18268.

18268.  An industrial loan company that has investment certificates outstanding shall not lend in the aggregate more than 5 percent of its capital stock and surplus not available for dividends as provided in Section 18319 upon the security of the stock of any one corporation and that stock may not exceed 10 percent of the outstanding stock of the corporation, or upon the security of the bonds of any one obligor except bonds of the United States or for the payment of which the credit of the United States is pledged, bonds of the State of California, or for the payment of which the credit of the State of California is pledged, and any security authorized in writing by the commissioner or any security authorized by rule of the commissioner.(Amended by Stats. 1989, Ch. 663, Sec. 6. Operative January 1, 1991, by Sec. 20 of Ch. 663.)
CA Fin Code § 18269 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 5 - Limitations and Regulations of Loans and Purchased Obligations|Section 18269.

18269.  An industrial loan company that has investment certificates outstanding shall not make any loan secured primarily by improved real property in a principal amount in excess of 20 percent of the company’s unimpaired capital stock and surplus not available for dividends as provided in Section 18319. An industrial loan company that has investment certificates outstanding shall not make any loan secured primarily by unimproved real property in a principal amount in excess of 10 percent of the company’s unimpaired capital stock and surplus not available for dividends as provided in Section 18319.(Amended by Stats. 1989, Ch. 663, Sec. 7. Operative January 1, 1991, by Sec. 20 of Ch. 663.)
CA Fin Code § 18270 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 5 - Limitations and Regulations of Loans and Purchased Obligations|Section 18270.

18270.  An industrial loan company may require the borrower to sign a contract of pledge, assignment, mortgage, security agreement, deed of trust, or trust receipt relating to real or personal property given by the borrower as security for the repayment of the loan and interest and charges thereon.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18271 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 5 - Limitations and Regulations of Loans and Purchased Obligations|Section 18271.

18271.  An industrial loan company that has investment certificates outstanding shall not make loans to, or hold the obligations of, any one person as primary obligor in an aggregate principal 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. Unsecured loans or obligations of any person as primary obligor made or held by a company may not, in any event, exceed in the aggregate principal amount 5 percent of the unimpaired capital stock and surplus of the company not available for dividends as provided in Section 18319.(Amended by Stats. 1989, Ch. 663, Sec. 8. Operative January 1, 1991, by Sec. 20 of Ch. 663.)
CA Fin Code § 18272 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 5 - Limitations and Regulations of Loans and Purchased Obligations|Section 18272.

18272.  An industrial loan company shall diversify the loans and lease obligations it makes and other obligations it acquires, both as to the types of debtors and obligors, types of collateral, and as to terms and types of repayment schedules. The requirement for diversification notwithstanding, an industrial loan company may specialize in its lending, leasing, and other authorized practices under this division. The commissioner may promulgate rules and regulations pursuant to this section.(Amended by Stats. 1984, Ch. 873, Sec. 4.)
CA Fin Code § 18274 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 5 - Limitations and Regulations of Loans and Purchased Obligations|Section 18274.

18274.  The principal balances of loans made, or obligations purchased, by an industrial loan company that has investment certificates outstanding, which loans or obligations are secured by unimproved real property, shall not in the aggregate exceed 5 percent of the company’s assets unless the commissioner consents to the taking of collateral to protect an existing jeopardized obligation.(Amended by Stats. 1986, Ch. 296, Sec. 4.)
CA Fin Code § 18290 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 6 - Insurance Sold With Loans|Section 18290.

18290.  (a) As used in this division:(1) “Credit life insurance” and “credit disability insurance” have the same meanings as defined in Section 779.2 of the Insurance Code.(2) “Credit loss-of-income insurance” means insurance issued to provide indemnity for payments becoming due on a specific loan or other credit transaction while the debtor is involuntarily unemployed, as defined in the policy.(b) An industrial loan company may provide and collect the costs for credit life insurance on the life of one or more of the borrowers, or credit disability, or loss-of-income insurance, or any combination of these coverages, to provide indemnity for payments becoming due on the indebtedness, with his or her consent, the form to be approved by the Insurance Commissioner, and a copy, together with evidence of its approval by the Insurance Commissioner, to be filed with the commissioner, and in an amount not in excess of the amount of the indebtedness. The amount charged to the borrower for credit life or disability insurance shall not exceed, in the case of credit life insurance, fifty cents ($0.50) per year per one hundred dollars ($100) of indebtedness (and in the same proportion for longer or shorter maturities and larger or smaller amounts) or the amount established by or pursuant to Section 779.35 of the Insurance Code, whichever is less, or, in the case of credit disability insurance, the amount established by or pursuant to Section 779.35 of the Insurance Code.(Amended by Stats. 1987, Ch. 1314, Sec. 1.)
CA Fin Code § 18291 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 6 - Insurance Sold With Loans|Section 18291.

18291.  (a) If credit life or disability insurance is provided pursuant to this division, and if the insured borrower dies or becomes disabled during the term of the loan contract, the insurance shall be sufficient to pay the total amount due on the loan (excluding unearned charges) outstanding on the date of death, or all amounts which become due on the loan thereafter during the period of disability, as the case may be, without any exception, reservation, or limitation, subject, however, to the provisions of Section 18292.(b) Any credit life, disability, or loss-of-income insurance as provided shall be in force as soon as the loan is made. An industrial loan company shall not require any of these coverages as a condition of making a loan.(Amended by Stats. 1986, Ch. 813, Sec. 2.)
CA Fin Code § 18292 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 6 - Insurance Sold With Loans|Section 18292.

18292.  (a) If credit disability insurance is provided pursuant to this division, it shall not provide indemnity against the risk of a borrower becoming disabled for a period of less than 14 days. The insurance may provide indemnity for any single period of continuous disability of 14 days or longer, after which the risk may become compensable. The insurance may be offered with retroactive coverage to an earlier date based upon the disability having continued for a period stated in the policy, but if insurance with retroactive coverage is offered, it shall also be offered without retroactive coverage, and the premium rate for each coverage shall be separately stated in writing to the borrower.(b) If insurance with retroactive coverage is provided, the coverage shall provide for a prorated payment based upon the fraction of the month during which the insured is disabled, provided that the insured is continuously disabled during the waiting period set forth in the policy. If insurance without retroactive coverage is provided, the coverage shall provide for a prorated payment based upon the fraction of the month during which the insured is disabled, after first excluding the elimination period set forth in the policy. For the purpose of this subdivision, a month is any period of 30 consecutive days.(c) Credit disability insurance, if made available by an industrial loan company, shall be available on a monthly or annual premium basis, and the premium by the month shall not exceed a pro rata relationship to the annual premium. Credit disability insurance need not be offered for a period less than the term of the loan to which it is applicable and no credit disability insurance shall be written for a period in excess of the term of the loan to which it is applicable.(d) The monthly disability benefit payable with respect to an open end loan shall not exceed the monthly payment computed pursuant to Section 18300 on the outstanding balance at the time the disability is incurred.(Amended by Stats. 1984, Ch. 199, Sec. 3.)
CA Fin Code § 18293 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 6 - Insurance Sold With Loans|Section 18293.

18293.  If credit disability or loss-of-income insurance is provided pursuant to this division, the industrial loan company shall also deliver an understandable written statement to the borrower detailing the conditions when the borrower will be entitled to make a claim under the insurance policy and the procedure to be followed in making the claim.(Amended by Stats. 1998, Ch. 827, Sec. 13. Effective January 1, 1999.)
CA Fin Code § 18294 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 6 - Insurance Sold With Loans|Section 18294.

18294.  An industrial loan company may collect the costs for insurance of tangible personal or real property offered as security for a loan, reasonably insured against loss for a reasonable term considering the circumstances of the loan, when the policy of insurance is made payable to the borrower or any member of his family, even though the customary mortgagee clause is attached, and if the insurance is sold at standard rates through duly licensed insurance agents.(Added by Stats. 1976, Ch. 964.)
CA Fin Code § 18295 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 6 - Insurance Sold With Loans|Section 18295.

18295.  An industrial loan company may collect the costs of title insurance for loans secured primarily by real property. The costs for such insurance may be collected if:(1) The principal amount of the loan is at least one thousand dollars ($1,000);(2) The loan is secured by a lien of a deed of trust or mortgage on real property which is the subject of such policy of title insurance;(3) The policy of title insurance is made payable to the lender or jointly to such lender and the borrower as their interests may appear;(4) The coverage of such insurance may not exceed the lesser of the principal amount of the loan or the fair market value of the real property less prior encumbrances;(5) The insurance is placed at standard rates through a title insurance company authorized to do business in the State of California;(6) In connection with the renewal or extension of a loan, the additional cash advance is at least one thousand dollars ($1,000).Such costs as herein authorized are not included in the maximum charges which may be made under this division.(Amended by Stats. 1983, Ch. 858, Sec. 24.)
CA Fin Code § 18296 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 6 - Insurance Sold With Loans|Section 18296.

18296.  An industrial loan company may collect the costs of insurance of the type defined by subdivision (a) of Section 12640.02 of the Insurance Code. Costs authorized by this section are not included in the maximum charges which may be made under this division.(Added by Stats. 1984, Ch. 199, Sec. 4.)
CA Fin Code § 18301 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 6.5 - Open-End Loans|Section 18301.

18301.  (a) Whenever authorized by the commissioner, an industrial loan company whose thrift obligations are insured by the Federal Deposit Insurance Corporation may make a secured line of credit loan. Security for line of credit loans shall be of a kind and class that has been declared eligible by the commissioner. (b) Line of credit loans authorized under Title VIII (Alternative Mortgage Transaction Party Act of 1982) of the Garn-St. Germain Depository Institutions Act of 1982 are not subject to subdivision (a).(c) As used in this article, “line of credit loan” means a loan whereby a borrower requests and a company disburses loan proceeds in an installment or installments during the term of the loan by an advance or series of advances, whether or not the timing of the advance or advances is known on the date the loan is approved by the company.(d) This section does not apply to secured line of credit lending activities engaged in on or before May 1, 1989, unless, after that date there is a change in the secured line of credit plan of business by the company.(Added by Stats. 1989, Ch. 889, Sec. 4.)
CA Fin Code § 18302 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 6.5 - Open-End Loans|Section 18302.

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, business qualifications, and other experience of the proposed officers and managers directing the line of business for which authorization is requested.(c) Any other facts and circumstances bearing on the proposal that, in the opinion of the commissioner, may be relevant.(Added by Stats. 1989, Ch. 889, Sec. 5.)
CA Fin Code § 18303 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 3 - Loans and Purchased Obligations|ARTICLE 6.5 - Open-End Loans|Section 18303.

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 successful operation.(b) That the company has a person with the necessary business qualifications, experience, or ability to direct and manage the operations of the plan of business.(Added by Stats. 1989, Ch. 889, Sec. 6.)