reglab/housing_qa huggingface dataset:
CA Fin Code § 18425.5 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 4 - Possession, Conservatorship, and Liquidation by the Commissioner|Section 18425.5.

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 thrift obligation guaranteed by the Thrift Guaranty Corporation of California, whichever is less.(Added by Stats. 1985, Ch. 140, Sec. 1. Effective July 1, 1985.)
CA Fin Code § 18425.6 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 4 - Possession, Conservatorship, and Liquidation by the Commissioner|Section 18425.6.

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 whether the account is subject to any pledge. In the case of an account with a fixed or minimum term or a qualifying or notice period that has not expired as of the date of taking possession, interest shall be computed as if the account had been withdrawn on that date without penalty or reduction in interest.The liquidator shall give notice to each investment certificate holder of the amount of his or her claim and the investment certificate holder shall not be required to file a claim unless he or she disputes the amount of the liquidator’s determination.(Added by Stats. 1985, Ch. 140, Sec. 1. Effective July 1, 1985.)
CA Fin Code § 18425.7 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 4 - Possession, Conservatorship, and Liquidation by the Commissioner|Section 18425.7.

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 certificate holders as shown by the books or records of the company, and shall file one copy of the list in the commissioner’s office and one with the clerk of the superior court in which the liquidation proceedings are being held. Before each application to the court for leave to declare a dividend, the liquidator shall file a supplemental list of claims presented since the last preceding list was filed, including and specifying the claims as have been rejected by the liquidator. The list of claims and of claims of investment certificate holders as shown by the books or records of the company shall be open for inspection at all reasonable times.(Added by Stats. 1985, Ch. 140, Sec. 1. Effective July 1, 1985.)
CA Fin Code § 18425.8 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 4 - Possession, Conservatorship, and Liquidation by the Commissioner|Section 18425.8.

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 purpose, and should the objections to any claim be sustained by the court or by the referee, that claim shall not be allowed by the liquidator until the claimant has established his or her claim by judgment. Any objections to a claim shall be filed within 60 days from the date of filing of the schedule of claims as required by this article with the court or be forever barred.(Added by Stats. 1985, Ch. 140, Sec. 1. Effective July 1, 1985.)
CA Fin Code § 18425.9 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 4 - Possession, Conservatorship, and Liquidation by the Commissioner|Section 18425.9.

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 one or more dividends upon all approved claims out of the funds remaining in the liquidator’s possession after the payment of expenses and after setting aside an amount to pay creditors whose claims have been rejected and whose time for filing an application to show cause under this article has not yet elapsed or whose application is still pending. At any time after the expiration of one year from the date of the first publication of notice of creditors, and with court approval, the liquidator may pay a final distribution which shall consist of the remaining funds available for distribution, being distributed pro rata to all approved creditor claims.(Added by Stats. 1985, Ch. 140, Sec. 1. Effective July 1, 1985.)
CA Fin Code § 18425.10 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 4 - Possession, Conservatorship, and Liquidation by the Commissioner|Section 18425.10.

18425.10.  (a) Claims allowed in a proceeding under this article shall be given preference in the following order:(1) All costs and expenses of administration of conservatorship and liquidation.(2) Taxes due to the State of California.(3) Claims having preference by the laws of the United States and by laws of this state.(4) All claims of creditors, including contractual claims for interest to the date of payment, whose claims are fully secured.(5) Claims of investment certificate holders.(6) Claims of general creditors.(7) Claims on obligations subordinated to the claims of investment certificate holders and general creditors.Paragraphs (5) and (6) apply only in liquidation proceedings, where the commissioner has taken possession of the property and business of the company on or after the effective date of this section, and paragraph (6) shall apply only with respect to persons who become general creditors on or after that date. It is the intent of the Legislature that no change in the law contained in this section shall be construed to affect the rights and obligations of parties with regard to transactions occurring prior to the effective date of this section. It is the intent of the Legislature that the rights and obligations of parties existing prior to the effective date of this section shall be determined by the law in effect prior to the effective date of this section and without application of changes in the law effected by this section.(b) All approved claims shall bear interest at the rate provided by law or judgments from the date that the commissioner takes possession of the property and business of the company, to the extent funds are available to pay such interest, otherwise interest shall be prorated.Interest shall be given the same preference as the claim on which it is based, but no interest on any claim shall be paid until all claims within the same class have received the full principal amount of the claim.(c) Any funds remaining shall be returned to the stockholders of the company pursuant to the provisions of this article.(Added by Stats. 1985, Ch. 140, Sec. 1. Effective July 1, 1985.)
CA Fin Code § 18425.11 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 4 - Possession, Conservatorship, and Liquidation by the Commissioner|Section 18425.11.

18425.11.  Whenever the commissioner determines to liquidate a company, the commissioner shall cause an inventory of all the assets of the company to be made in duplicate, file the original with the court, and file the duplicate in the commissioner’s office.(Added by Stats. 1985, Ch. 140, Sec. 1. Effective July 1, 1985.)
CA Fin Code § 18425.12 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 4 - Possession, Conservatorship, and Liquidation by the Commissioner|Section 18425.12.

18425.12.  If it appears improbable that anything can be realized from any property of the company and that the cost of maintaining, preserving, or protecting the property would probably be lost, the court may direct the liquidator to abandon the property.(Added by Stats. 1985, Ch. 140, Sec. 1. Effective July 1, 1985.)
CA Fin Code § 18425.13 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 4 - Possession, Conservatorship, and Liquidation by the Commissioner|Section 18425.13.

18425.13.  If a purchaser of any property or any bad or doubtful debt or claim of a company cannot be obtained and it appears improbable that recovery thereon can be had, and that the cost of action to enforce collection of the same would probably be lost, the superior court may direct that suit on the debt or claim need not be brought.(Added by Stats. 1985, Ch. 140, Sec. 1. Effective July 1, 1985.)
CA Fin Code § 18425.14 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 4 - Possession, Conservatorship, and Liquidation by the Commissioner|Section 18425.14.

18425.14.  When the liquidator has fully liquidated all claims other than claims of stockholders, made due provision for any and all known but unclaimed liabilities, excepting claims of stockholders, and paid all expenses of liquidation, the liquidator may file an application for an order for the liquidation of a domestic corporation, or at any time thereafter, the commissioner may apply for, and the court shall make, an order dissolving the corporation.(Added by Stats. 1985, Ch. 140, Sec. 1. Effective July 1, 1985.)
CA Fin Code § 18425.15 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 4 - Possession, Conservatorship, and Liquidation by the Commissioner|Section 18425.15.

18425.15.  Upon the payment of a final dividend in liquidation, the commissioner shall prepare and file with the court a full and final statement of the liquidation, including a summary of the receipts and disbursements, and a duplicate of the statement shall be filed in the office of the commissioner. After hearing and approval by the court, the liquidation shall be closed.(Added by Stats. 1985, Ch. 140, Sec. 1. Effective July 1, 1985.)
CA Fin Code § 18425.16 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 4 - Possession, Conservatorship, and Liquidation by the Commissioner|Section 18425.16.

18425.16.  In making its order approving the commissioner’s final statement of the liquidation of the company, the court shall determine the amounts of the liquidating dividends to which claimants are entitled but which then remain unpaid or unclaimed in the hands of the commissioner. The order of the court shall direct the commissioner to deposit those amounts with the Treasurer. All amounts so deposited shall be deemed to be deposited in the State Treasury under the provisions of Chapter 7 (commencing with Section 1500) of Title 10 of Part 3 of the Code of Civil Procedure, and shall be subject to claim or disposition as provided in that chapter.(Added by Stats. 1985, Ch. 140, Sec. 1. Effective July 1, 1985.)
CA Fin Code § 18425.17 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 4 - Possession, Conservatorship, and Liquidation by the Commissioner|Section 18425.17.

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. The liquidator shall file a copy of the order of dissolution with the Secretary of State.(Added by Stats. 1985, Ch. 140, Sec. 1. Effective July 1, 1985.)
CA Fin Code § 18427 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 5 - Securities Transactions|Section 18427.

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 disposition of, a security for value. “Sale” or “sell” includes any exchange of securities and any change in the rights, preferences, privileges, or restrictions of or on outstanding securities.(c) “Security” means any stock or debenture, or any warrant, right, or option to subscribe to or purchase any of the foregoing.(d) The terms defined in subdivisions (a) and (b) of this section do not include any stock dividend payable with respect to common stock of an industrial loan company solely (except for any cash or script paid for fractional shares) in shares of such common stock, if such industrial loan company has no other class of voting stock outstanding; provided, that shares issued in any such dividend shall be subject to any conditions previously imposed by the commissioner applicable to the shares with respect to which they are issued.(Repealed and added by Stats. 1996, Ch. 1064, Sec. 598. Effective January 1, 1997. Operative July 1, 1997.)
CA Fin Code § 18427.1 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 5 - Securities Transactions|Section 18427.1.

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.(Repealed and added by Stats. 1996, Ch. 1064, Sec. 600. Effective January 1, 1997. Operative July 1, 1997.)
CA Fin Code § 18427.2 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 5 - Securities Transactions|Section 18427.2.

18427.2.  An application for a permit shall be in such form and contain such information as the commissioner may prescribe.(Repealed and added by Stats. 1996, Ch. 1064, Sec. 602. Effective January 1, 1997. Operative July 1, 1997.)
CA Fin Code § 18427.3 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 5 - Securities Transactions|Section 18427.3.

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, privileges, or restrictions of or on outstanding securities shall be fifty dollars ($50).(c) The fee for any permit to sell securities other than as specified in subdivision (b) shall be one hundred dollars ($100) plus one-tenth of one percent of the aggregate value of the securities sought to be sold, up to a maximum aggregate fee of one thousand seven hundred fifty dollars ($1,750).(Repealed and added by Stats. 1996, Ch. 1064, Sec. 604. Effective January 1, 1997. Operative July 1, 1997.)
CA Fin Code § 18427.4 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 5 - Securities Transactions|Section 18427.4.

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. If the commissioner finds otherwise, he or she shall deny the application.(Repealed and added by Stats. 1996, Ch. 1064, Sec. 606. Effective January 1, 1997. Operative July 1, 1997.)
CA Fin Code § 18427.5 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 5 - Securities Transactions|Section 18427.5.

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 with the sale thereof, or such other conditions as he or she deems reasonable and necessary or advisable in the public interest.(Added by Stats. 1996, Ch. 1064, Sec. 607. Effective January 1, 1997. Operative July 1, 1997.)
CA Fin Code § 18427.6 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 5 - Securities Transactions|Section 18427.6.

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.(Added by Stats. 1996, Ch. 1064, Sec. 608. Effective January 1, 1997. Operative July 1, 1997.)
CA Fin Code § 18427.7 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 5 - Securities Transactions|Section 18427.7.

18427.7.  The commissioner may amend, alter, suspend, or revoke any permit issued pursuant to Section 18427.4.(Added by Stats. 1996, Ch. 1064, Sec. 609. Effective January 1, 1997. Operative July 1, 1997.)
CA Fin Code § 18427.8 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 5 - Securities Transactions|Section 18427.8.

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 outstanding securities (as defined in Section 25019 of the Corporations Code), claims, or property interests, or partly in such exchange and partly for cash, the commissioner is authorized to approve the terms and conditions of such issuance and exchange or such delivery and exchange and the fairness of such terms and conditions and is authorized to hold a hearing on the fairness of such terms and conditions, at which all persons to whom it is proposed to issue any security or to deliver any other consideration in such exchange shall have the right to appear.(Added by Stats. 1996, Ch. 1064, Sec. 610. Effective January 1, 1997. Operative July 1, 1997.)
CA Fin Code § 18427.9 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 5 - Securities Transactions|Section 18427.9.

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 Commissioner of Business Oversight adopted thereunder.(2) The execution and delivery of an agreement for the sale of securities to any person of the type described in paragraph (1), subject to all of the following:(A) The agreement shall contain substantially the following provision:“The sale of the securities which are the subject of this agreement has not been authorized by a permit issued by the Commissioner of Business Oversight. The issuance of the securities or the payment or receipt of any part of the consideration therefor prior to the issuance of a permit is unlawful, unless the sale of securities is exempt from Section 18427.1 of the California Financial Code. The rights of all parties to this agreement are expressly conditioned upon the issuance of a permit, unless the sale is so exempt.”(B) No part of the purchase price may be paid or received, and none of the securities may be issued, until a permit authorizing the sale of the securities is issued, unless the sale is exempt from Section 18427.1.(b) Any transaction or security which the commissioner by regulation or order exempts as not being comprehended within the purposes of this article and the regulation of which he or she finds is not necessary or appropriate in the public interest or for the protection of investors.(Amended by Stats. 2016, Ch. 277, Sec. 11. (AB 2907) Effective January 1, 2017.)
CA Fin Code § 18427.10 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 5 - Securities Transactions|Section 18427.10.

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.(Added by Stats. 1996, Ch. 1064, Sec. 612. Effective January 1, 1997. Operative July 1, 1997.)
CA Fin Code § 18427.11 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 5 - Administration and Powers of the Commissioner|ARTICLE 5 - Securities Transactions|Section 18427.11.

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 securities may be included in the investment certificate ratio as defined by Section 18016, or used to increase outstanding investment certificates.(Added by Stats. 1996, Ch. 1064, Sec. 613. Effective January 1, 1997. Operative July 1, 1997.)
CA Fin Code § 18475 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 7 - Guarantee of Thrift Accounts|ARTICLE 1 - Definitions|Section 18475.

18475.  “Guaranty corporation” means Thrift Guaranty Corporation of California which exists under the Nonprofit Mutual Benefit Corporation Law (Part 3 (commencing with Section 7110) of Division 2 of Title 1 of the Corporations Code).(Amended by Stats. 1978, Ch. 1305.)
CA Fin Code § 18476 (2021)
2021 California Code|Financial Code - FIN|DIVISION 7 - INDUSTRIAL LOAN COMPANIES|CHAPTER 7 - Guarantee of Thrift Accounts|ARTICLE 1 - Definitions|Section 18476.

18476.  (a) “Member” means an industrial loan company required by Section 18100.5 to be a member of Guaranty Corporation. “Member” includes “special member” except where the term “special member” is used in the same section of this chapter.(b)  “Special member” means a member whose thrift obligations are insured by the Federal Deposit Insurance Corporation or by the Federal Savings and Loan Insurance Corporation or, subject to any rules promulgated by the commissioner, by a private insurer, surety or guarantee corporation acceptable to and approved by the commissioner.(Amended by Stats. 1985, Ch. 142, Sec. 8. Effective July 1, 1985.)