California Financial Code

§ 18117

FIN § 18117Div. 7 · Ch. 2 · Art. 2

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 advantage will not be promoted by the establishment of the proposed industrial loan company.

(b)The industrial loan company is being formed for a purpose other than the legitimate objectives contemplated by this division.

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Legislative history

Amended by Stats. 1980, Ch. 974, Sec. 9.