DIVISION 7. INDUSTRIAL LOAN COMPANIES 18000-18707›CHAPTER 3. Loans and Purchased Obligations 18190-18303›ARTICLE 5. Limitations and Regulations of Loans and Purchased Obligations 18265-18274

§ 18272

California Financial Code · 2018-11 edition · updated 2026-10-04 · California

An industrial loan company shall diversify the loans and lease obligations it makes and other obligations it acquires, both as to the types of debtors and obligors, types of collateral, and as to terms and types of repayment schedules. The requirement for diversification notwithstanding, an industrial loan company may specialize in its lending, leasing, and other authorized practices under this division. The commissioner may promulgate rules and regulations pursuant to this section.

(Amended by Stats. 1984, Ch. 873, Sec. 4.)

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California Financial Code

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