California Financial Code

§ 18451

FIN § 18451Div. 7 · Ch. 6

Statute text

A director, officer, or employee of an industrial loan company, its holding company, or its affiliates who makes or maintains, or attempts to make or maintain, a deposit of such company’s funds with any other person on condition, or with the understanding, express or implied, that the person receiving such deposit make a loan or advance, directly or indirectly, to any director, officer, or employee of the company so making or maintaining or attempting to make or maintain such deposit, is guilty of a misdemeanor.

Legislative history

Amended by Stats. 1980, Ch. 418, Sec. 12.