GroundRules
FIN § 18265
Where this section sits in the code
- Financial Code - FIN
- DIVISION 7. INDUSTRIAL LOAN COMPANIES [18000. - 18707.]
- CHAPTER 3. Loans and Purchased Obligations [18190. - 18303.]
- ARTICLE 5. Limitations and Regulations of Loans and Purchased Obligations [18265. - 18274.]
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.
Collected 2026-09-14T05:56:33Z. Source file · JSON