§ 18412 Industrial Loan Reporting Penalties

Financial Code·California

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Key Takeaways

•Companies must send reports to the commissioner on time.
•If a company is late or misses something in the report, they pay $100 for each day it's late.
•The commissioner decides when and what to include in the report.

Example

A loan company forgets to send their monthly report to the commissioner.

If the report is 5 days late, the company has to pay a $500 fine ($100 for each late day).

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

Official Source

View on CA.gov

§ 18412 Industrial Loan Reporting Penalties

Each report required under this article shall be filed with the commissioner at the time that the commissioner by regulation or order may require. If any industrial loan company fails to make any report required by this article at the time specified by the commissioner, or fails to include in that report any matter required by this article or by the commissioner, the commissioner shall assess and collect a penalty of one hundred dollars ($100) for each day which that report is delayed or withheld by the failure or neglect of that industrial loan company. (Added by Stats. 1990, Ch. 679, Sec. 1.)

Last verified: January 23, 2026

Key Terms

industrial loan company commissioner report penalty

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 18412.

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Key Takeaways

Example

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Related Statutes

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