California Financial Code

§ 18265

FIN § 18265Div. 7 · Ch. 3 · Art. 5

Statute text

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.

…

Legislative history

Amended by Stats. 1983, Ch. 858, Sec. 21.