California Financial Code

§ 18703

FIN § 18703 Effective Sep 25, 1996Div. 7 · Ch. 10 · Art. 5

Statute text

In determining whether to approve or deny an application by a California industrial loan company for approval to engage in authorized agency activities as agent for an insured depository institution, the commissioner shall consider both of the following factors:

(a)Whether the proposed agency arrangement is consistent with the safe and sound operation of the California industrial loan company.

(b)Any other factors that the commissioner deems relevant.

Legislative history

Amended by Stats. 1996, Ch. 887, Sec. 70. Effective September 25, 1996.