ARTICLE 1. Definitions [18000. - 18019.]
Article 1 added by Stats. 1976, Ch. 964.
§§ 18000–18019 · 34 sections
- § 18000 This division shall be known and may be cited as the “Industrial Loan Law,” the “Industrial Banking Law,” or the “Thrift and Loan Law.”
- § 18001 The definitions given in this article govern the construction of this division unless the context otherwise requires.
- § 18002 “Commissioner” means the Commissioner of Financial Protection and Innovation.
- § 18002.5 “Department” means the Department of Financial Protection and Innovation.
- § 18003 “Industrial loan company,” “thrift and loan company,” or “company” as used in this division means a premium finance agency as defined in Section 18560.…
- § 18003.1 “Investment and loan” means an industrial loan company.
- § 18003.2 (a)Any reference in a provision of any statute or regulation of this state to an industrial loan company or a thrift and loan company means an insurance…
- § 18003.5 (a) When used with respect to an industrial loan company, “insured” means an industrial loan company that is insured by the Federal Deposit Insurance…
- § 18003.6 “Certificate of deposit” as that term is used by an industrial loan company licensed under this division means an investment certificate representing the…
- § 18003.7 “Demand deposit” means investment or thrift certificates in account, passbook, or certificate form which are redeemable and payable upon demand to the owner.
- § 18004 “Borrower” means the person receiving the proceeds or benefits of a loan.
- § 18005 “Consumer loan or consumer obligation” means a loan made to, or an obligation incurred by, a natural person in which the money loaned, or the property…
- § 18006 “Primarily secured by real property”, as used in this division, means the fair market value of the real property less prior encumbrances, at the time the loan…
- § 18007 “Charges”, as used in this division, include the aggregate interest, fees, bonuses, commissions, brokerage, discounts, expenses, and other forms of costs…
- § 18008 “Charges” also include any profit or advantage of any kind that any person may contract for, collect, receive, or in any manner obtain by a collateral sale,…
- § 18009 “Principal amount”, as used in this division, means the net amount of money, credit, goods, or things in action received by the debtor or borrower or disbursed…
- § 18010 “Principal balance”, and “face amount” as used in this division, means the unpaid balance of a loan or other obligation.
- § 18011 “Affiliated company”, as used in this division, is a company under substantially the same management or control, directly or indirectly, as the industrial loan…
- § 18011.1 “Affiliate” means an affiliated company or a person who, directly or indirectly, controls over 10 percent of the voting stock of an industrial loan company.
- § 18012 “Corporate Securities Law” means the Corporate Securities Law of 1968, Division 1 (commencing with Section 25000) of Title 4 of the Corporations Code.
- § 18013 “Outstanding loans and obligations,” as used in this division, means total outstanding loans and obligations, including lease obligations, less unearned…
- § 18014 “Obligation” as used in Sections 18265, 18271, 18272, and 18343 includes lease obligations as authorized by Section 18310.
- § 18015 “Lease obligation” as used in this division, means a lease contract entered into by an industrial loan company as lessor.
- § 18016 “Investment certificates ratio”, as used in this division, means the ratio of the aggregate sum of all of the outstanding investment certificates, exclusive of…
- § 18016.5 “Premium finance agency” has the meaning set forth in Section 18560.
- § 18017 “Assets,” as used in this division, means all assets excluding intangibles.
- § 18018 “Capital,” as used in this division, consists of all of the following: (a) Capital stock. (b) Primary capital to the extent not included in capital stock. (c)…
- § 18018.1 “Primary capital,” as used in this division, means the sum of common stock, perpetual preferred stock, capital surplus, undivided profits, capital reserves,…
- § 18018.2 “Secondary capital,” as used in this division, means the sum of mandatory convertible debt that is not included in primary capital, limited life preferred…
- § 18018.3 “Perpetual preferred stock,” as used in this division, means a preferred stock that does not have a stated maturity date or that can not be redeemed at the…
- § 18018.4 “Mandatory convertible debt,” as used in this division, means a subordinated debt instrument which requires the issuer to convert that instrument into common…
- § 18018.5 “Limited life preferred,” as used in this division, means preferred stock which has a maturity or which may be redeemed at the option of the holder.
- § 18018.6 “Subordinated notes and debentures,” as used in this division, means an obligation other than an investment certificate obligation that: (a) Bears on its face,…
- § 18019 “Capital Stock,” as used in this division, means one-class voting common stock.