§ 18145 Branch Offices For Loan Companies

Financial Code·California

AI SummaryVerified

This law says that a special type of company called an industrial loan company can open more offices in the state if they get permission from the boss (commissioner) and their team (board of directors) agrees.

Key Takeaways

•Industrial loan companies can open new offices in the state.
•They need permission from the commissioner to do this.
•Their board of directors must also agree before they can open a new office.

Example

A small loan company wants to open a new office in another city to help more people get loans.

The company must first ask their board of directors to agree and then get permission from the commissioner before they can open the new office.

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

Official Source

View on CA.gov

§ 18145 Branch Offices For Loan Companies

Subject to Section 18145.1, when authorized by the commissioner as provided in this division, an industrial loan company, pursuant to a resolution of its board of directors, may establish and maintain one or more branch offices within the state. (Amended by Stats. 1997, Ch. 190, Sec. 1. Effective January 1, 1998.)

Last verified: January 11, 2026

Key Terms

industrial loan company branch offices commissioner board of directors

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 18145.

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Example

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Key Takeaways

Example

Key Terms

Related Statutes

References