§ 18151 Branch Office Authorization Penalty

Financial Code·California

AI SummaryVerified

This law says a company that lends money can't open a new office without permission. If they do, they have to pay $100 for every day the office is open without approval.

Key Takeaways

•Money lending companies must get permission before opening a new office.
•If they open without permission, they pay $100 for every day the office is open.
•The money they pay goes to the state.

Example

A money lending company opens a new branch in a different city without asking the state for permission first.

The company would have to pay $100 for every day that new office is open. If it's open for 10 days without permission, they owe $1,000.

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

Official Source

View on CA.gov

§ 18151 Branch Office Authorization Penalty

An industrial loan company which opens a branch office without first obtaining a certificate of authorization to transact business shall forfeit to the people of the state the sum of one hundred dollars ($100) for every day during which the branch office is maintained without authority. (Added by Stats. 1976, Ch. 964.)

Last verified: January 11, 2026

Key Terms

industrial loan company branch office certificate of authorization one hundred dollars ($100)

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 18151.

Key Takeaways

Example

Key Terms

Related Statutes

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Key Takeaways

Example

Key Terms

Related Statutes

References