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HomeFinancial CodeDiv. 7Ch. 2Art. 1§ 18102 Industrial Loan Company Articles

§ 18102 Industrial Loan Company Articles

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

§ 18102 Industrial Loan Company Articles

This law says that if a company wants to start or change into an industrial loan business, it must clearly state that in its official papers and get special permission first.

Key Takeaways

  • •A company must say in its official papers that it is an industrial loan business.
  • •The company needs a special certificate from the government to start or change into this kind of business.
  • •Without this certificate, the government won’t let the company officially register.

Example

A group of people want to start a company that gives out small loans to others.

They must write in their company papers that their main job is giving out loans, and they need to show a special certificate from the government before they can officially start.

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

Official Source
View on CA.gov

§ 18102 Industrial Loan Company Articles

The articles of incorporation of an industrial loan company, in addition to the statement required by subdivision (b) of Section 202 of the Corporations Code, shall expressly state that its purpose is to engage in an industrial loan business pursuant to this division. The Secretary of State shall not file articles for the incorporation of an industrial loan company or an amendment to the articles of an existing corporation to engage in an industrial loan business unless there is filed with the Secretary of State a duplicate of the certificate issued by the commissioner pursuant to Section 18101. (Amended by Stats. 1980, Ch. 478, Sec. 4.)

Last verified: January 11, 2026

Key Terms

articles of incorporationindustrial loan businesscertificate issued by the commissionerSection 18101

Related Statutes

  • § 14100 Credit Union Incorporation Rules
  • § 14101 Credit Union Articles Requirements
  • § 18100 Industrial Loan Company Formation
  • § 18101 Industrial Loan Company Approval
  • § 18101.5 Name Reservation For Corporations

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 18102.
View Official Source