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

§ 18274

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

The principal balances of loans made, or obligations purchased, by an industrial loan company that has investment certificates outstanding, which loans or obligations are secured by unimproved real property, shall not in the aggregate exceed 5 percent of the company’s assets unless the commissioner consents to the taking of collateral to protect an existing jeopardized obligation.

(Amended by Stats. 1986, Ch. 296, Sec. 4.)

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California Financial Code

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