CHAPTER 2. Formation and Organization [18100. - 18166.]
Chapter 2 added by Stats. 1976, Ch. 964.
§§ 18100–18166 · 33 sections
ARTICLE 1. General §§ 18100–18104 · 8 sections
- § 18100 When authorized by the commissioner as provided in this chapter, a corporation may be organized under the laws of this state, or an existing California…
- § 18100.5 Each industrial loan company, other than a premium finance agency, that has issued and has outstanding thrift obligations shall, as a condition to its…
- § 18101 If the commissioner approves an application to engage in business as an industrial loan company filed pursuant to Article 2 (commencing with Section 18115) of…
- § 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…
- § 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…
- § 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,…
- § 18103 An industrial loan company’s certificate to engage in the industrial loan business is not transferable or assignable.
- § 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…
ARTICLE 2. Applications §§ 18115–18120 · 5 sections
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
ARTICLE 3. Capitalization §§ 18130–18139 · 6 sections
- § 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…
- § 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…
- § 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…
- § 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…
- § 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,…
- § 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…
ARTICLE 4. Branch Offices §§ 18145–18154 · 11 sections
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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,…
- § 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…
- § 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…
ARTICLE 5. Change of Location §§ 18165–18166 · 3 sections
- § 18165 (a) Except as otherwise provided for in this division, an industrial loan company shall not transact business or make any loan provided for by this division at…
- § 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…
- § 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…