§ 18407 Industrial Loan Financial Reporting

Financial Code·California

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Key Takeaways

•If the boss (commissioner) asks, the company must share its money details.
•The money details must show what the company owns and how much it earns.
•The boss can ask for these details every month or at other times.

Example

A small bank is asked by the government to show its money records.

The bank must give reports showing how much money it has and how much it made, just like when your teacher asks for your homework.

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

Official Source

View on CA.gov

§ 18407 Industrial Loan Financial Reporting

An industrial loan company shall, when requested by the commissioner, submit its unaudited financial statements, prepared in accordance with generally accepted accounting principles and consisting of at least a balance sheet and a statement of income as of the date and for the period specified by the commissioner. The commissioner may require the submission of such reports on a monthly or other periodic basis. (Repealed and added by Stats. 1976, Ch. 964.)

Last verified: January 23, 2026

Key Terms

industrial loan company unaudited financial statements generally accepted accounting principles balance sheet statement of income commissioner

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 18407.

Key Takeaways

Example

Key Terms

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References

Key Takeaways

Example

Key Terms

Related Statutes

References