California Financial Code

§ 18671

FIN § 18671 Effective Oct 2, 1995Div. 7 · Ch. 10 · Art. 2

Statute text

(a)No foreign (other state) industrial loan company may establish or maintain an office in this state at which it engages in noncore industrial loan company business unless the industrial loan company complies with this article and applicable provisions of Article 1 (commencing with Section 18660).

(b)(1) No person may establish or maintain an office in this state as representative of an insured foreign (other state) industrial loan company unless the industrial loan company complies with this article and applicable provisions of Article 1 (commencing with Section 18660).

(2)For purposes of this article, if any person establishes or maintains an office in this state as representative of an insured foreign (other state) industrial loan company, the insured foreign (other state) industrial loan company is deemed to establish and maintain the office as a facility.

Legislative history

Added by Stats. 1995, Ch. 479, Sec. 7. Effective October 2, 1995.