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HomeFinancial CodeDiv. 7Ch. 2Art. 1§ 18101 Industrial Loan Company Approval

§ 18101 Industrial Loan Company Approval

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 18101 Industrial Loan Company Approval

This law says that if a company wants to start or change a business that lends money to people, they need to get permission from the government first. The government will give them a special paper that says they can start their business, but only if they follow certain rules.

Key Takeaways

  • •You need permission from the government to start or change a money-lending business.
  • •The government will give you a special paper if they say yes.
  • •The paper will tell you the rules you need to follow to run your business.

Example

A group of people want to start a company that lends money to small businesses to help them buy equipment.

They need to fill out an application and send it to the government. If the government says yes, they will get a special paper that says they can start their business, but they have to follow the rules written on that paper.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 18101 Industrial Loan Company Approval

If the commissioner approves an application to engage in business as an industrial loan company filed pursuant to Article 2 (commencing with Section 18115) of this chapter, he shall issue a certificate in duplicate authorizing the organization of the corporation, or the amendment of its articles of incorporation, and specifying the date on which, and the conditions under which, it may commence business as an industrial loan company, including the place where it will be located. (Added by Stats. 1976, Ch. 964.)

Last verified: January 11, 2026

Key Terms

commissionerindustrial loan companycertificatearticles of incorporation

Related Statutes

  • § 14100 Credit Union Incorporation Rules
  • § 18101.5 Name Reservation For Corporations
  • § 18103 Industrial Loan Certificate Transfer
  • § 18353 Industrial Loan Company Penalties
  • § 100004 Debt Collection License Investigations

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 18101.
View Official Source