California Financial Code

§ 18660

FIN § 18660 Effective Sep 25, 1996Div. 7 · Ch. 10 · Art. 1

Statute text

In this chapter, unless the context otherwise requires:

(a)“Authorized agency activities” means issuing investment certificates, renewing certificates of deposits, as defined in Section 18003.6, closing loans, servicing loans, and receiving payments on loans and other obligations. “Authorized agency activities” includes ministerial functions such as providing loan applications, assembling documents, providing a location for returning documents necessary for making a loan, providing loan account information, receiving payments, disbursing loan funds, evaluating loan applications, and other activities that the commissioner may specify by rule or order. However, “authorized agency activities” does not include any other activities that the commissioner may specify by rule or order.

(b)“Branch business unit” means all or substantially all of the business of a branch office of an industrial loan company.

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Legislative history

Amended by Stats. 1996, Ch. 887, Sec. 54. Effective September 25, 1996.