California Administrative Code

An industrial loan company shall maintain evidence that the fair market value of the property was obtained and credited to the account of the borrower. The evidence shall be: (a) A report or other record which described the condition of the collateral at the time of repossession;…

No expenses or costs of repossession or sale of property securing a loan shall be charged to or collected from a borrower, either directly or indirectly, that exceed the limitation contained in Section 18218 of the Financial Code. No expenses or costs of repairs to such property …

An industrial loan company shall not sell property securing a loan to any employee, officer, or director of such industrial loan company or affiliate of such industrial loan company, or to a relative of any of them. However, if an industrial loan company purchases such property i…

Any financial information contained in or attached to any advertising shall be based on the most recent audited financial statement filed with the Commissioner under Section 18405 of the Financial Code. Any condensed financial statement so used shall comply with Section 40.1301 o…

(a) Except as provided in subsection (e), the condensed statement of financial condition of an industrial loan company which is required to be distributed to certificate holders and posted pursuant to Section 18406 of the Financial Code shall be submitted to the Commissioner toge…

The audited financial statements required to be furnished for public inspection pursuant to Subdivision (c) of Section 18406 of the Financial Code shall include (a) the opinion of the independent accountant, (b) the balance sheet, profit and loss, and statement of source and appl…

The following provisions of these rules shall not apply to a premium finance agency or an industrial loan company in conducting business as set forth in Chapter 8 (commencing with Financial Code Section 18560) of the Industrial Loan Law, provided the provisions of this Section ar…

A premium finance agency that does not hold downpayments in a separate trust bank account shall maintain a time deposit, certificate of deposit or a letter or letters of credit pursuant to Section 18593 of the Financial Code. The amount of the deposits, certificates of deposits, …

An industrial loan company shall request in writing that any person, to whom as agent or otherwise an account is referred for collection and who receives any sum from a borrower in connection with the collection of such account, report to such industrial loan company in writing w…

(a) Any periodic payment (including any scheduled installment under a retail installment contract) that is more than twice the amount of any other periodic payment will be considered a balloon payment for purposes of Section 18206 of the Financial Code. (b) Any consumer loan or o…

On any loan secured by real property in which loan proceeds were disbursed to an independent escrow holder, an industrial loan company shall retain a copy of the escrow instructions and the closing statement issued by the escrow holder.

(a) Except as otherwise provided in Subdivisions (b), (c) and (d) of this section, an industrial loan company may collect and receive charges only on that portion of the unpaid principal balance actually disbursed to the borrower or on the borrower's behalf, and only from the dat…

An industrial loan company shall not make a consumer or other type of loan which is repayable by a single payment at maturity unless the following conditions are met: (a) A determination must be made that the borrower has a specific reason and need for a single payment loan rathe…

The market value of the collateral obligation of such loan must be at least 115% of the principal amount owing on the loan. The market value of the underlying real property may be considered in determining the market value of the collateral obligation.

(a) A reconveyance fee shall not be charged in connection with the refinance of a loan secured by real property if the same real property will secure the new loan. (b) A reconveyance fee charged by an industrial loan company, its parent, or any of its affiliates is a charge as de…

Each company shall annually submit, in duplicate, to the Commissioner for nondisapproval, a schedule of: (a) The maximum term of a motor vehicle lease by make, model, year and cost; and (b) The residual balance percentages it plans to use with an explanation of how they were deve…

§ 4035. Definitions. [Repealed] This database is current through 5/1/26 Register 2026, No. 18. Source: https://govt.westlaw.com/calregs/Document/I024BA4245C3011EC9C68000D3A7C4BC3?viewType=FullText&originationContext=documenttoc&transitionType=CategoryPageItem&contextData=(sc.Defa…

§ 4036. Eligible Projects. [Repealed] This database is current through 5/1/26 Register 2026, No. 18. Source: https://govt.westlaw.com/calregs/Document/I024E152A5C3011EC9C68000D3A7C4BC3?viewType=FullText&originationContext=documenttoc&transitionType=CategoryPageItem&contextData=(s…

§ 4037. Applications. [Repealed] This database is current through 5/1/26 Register 2026, No. 18. Source: https://govt.westlaw.com/calregs/Document/I0252D0145C3011EC9C68000D3A7C4BC3?viewType=FullText&originationContext=documenttoc&transitionType=CategoryPageItem&contextData=(sc.Def…

§ 4038. Evaluation Criteria. [Repealed] This database is current through 5/1/26 Register 2026, No. 18. Source: https://govt.westlaw.com/calregs/Document/I02562B765C3011EC9C68000D3A7C4BC3?viewType=FullText&originationContext=documenttoc&transitionType=CategoryPageItem&contextData=…

(a) A panel consisting of not less than two (2) and not more than four (4) professional full-time employees of the Agency and at least two (2) representatives of the technology development community or manufacturing community, shall score all Proposals using the criteria describe…

§§ 4081 through 4081.8. [Repealed] This database is current through 5/1/26 Register 2026, No. 18. Source: https://govt.westlaw.com/calregs/Document/ID5F4DB604FF111EDBB1EBB03D4113C3D?viewType=FullText&originationContext=documenttoc&transitionType=CategoryPageItem&contextData=(sc.D…

(a) The Agency shall send a letter announcing the availability of Grants, “Solicitation”, to all California cities, counties, cities and counties that have an active military base within its jurisdiction, and to any person requesting information about the California Base Retentio…

An eligible Application is one that meets all of the following requirements: (a) It is submitted by an eligible Applicant, as defined in Section 4083(b). (b) The Application is received by the deadline specified in the Solicitation as provided in section 4083.1(a). (c) The Applic…

The General Information Section of the application shall contain the following information. (a) Applicant Information (1) The Applicant's name, address, county, telephone and facsimile numbers, e-mail address (if applicable), and federal tax identification number. (2) The name an…

Whenever the Commissioner, this Chapter, or any law administered by the Commissioner provides that an application be in a specified form, any such application shall be filed in such form. Whenever the Commissioner, this Chapter, or any law administered by the Commissioner provide…

Two or more applications may be combined in the same document if all such applications: (a) Are made by the same person; (b) Are required to be in the form of a letter addressed to the Commissioner; and (c) Concern the same transaction or proposal or related transactions or propo…

(a) An application shall be dated and shall set forth the name, address, and telephone number of the applicant, identify the subject matter of the application, and contain such other information as the Commissioner, this Chapter, or any law administered by the Commissioner may re…

(a) An application shall be signed by the applicant or by a person authorized to represent the applicant in connection with such application. (b) The signature on an application by a corporation should be in the corporate form, and whenever the Commissioner, this Chapter, or any …

(a) A person making a report may, with the consent of the Commissioner, amend such report. An application for consent to amend a report shall contain the proposed amendment of such report and a statement of the reasons why such person wishes to amend the report. (b) Whenever a pe…

This Article governs the conduct of all Division of Financial Institutions hearings held in connection with matters pending before the Commissioner.

In this article: (a) “Adjudicatory hearing” means a hearing conducted in accordance with subarticle 2 (commencing with section 5.5100) of this article. (b) “Hearing officer” means the person designated by the Commissioner to preside at a hearing. The hearing officer may be the Co…

Hearings held in connection with matters pending before the Commissioner are of two types, adjudicatory hearings and investigatory hearings. The Commissioner may in his discretion determine which type of hearing to hold in any particular case. In general, however, any hearing on …

The Commissioner shall initiate an adjudicatory hearing proceeding by issuing an accusation. An accusation shall be in writing, signed by the Commissioner, and shall contain the following: (a) Name and address of respondent. (b) Statement of acts or omissions with which the respo…

(a) Not more than 15 days after the Commissioner serves a notice of adjudicatory hearing on the respondent, the respondent shall file an answer with the Commissioner. The answer shall be in writing, signed by the respondent or a person authorized to represent the respondent in co…

(a) The Commissioner may amend an accusation at any time before or during an adjudicatory hearing. An amendment of an accusation shall be in writing and signed by the Commissioner. (b) Any amendment of an accusation shall be deemed to be denied by the respondent. (c) Whenever the…

(a) An adjudicatory hearing shall be held at the time and place set forth in the notice of such adjudicatory hearing. However, at any time before the commencement of an adjudicatory hearing, the Commissioner may, upon application or on his own initiative, change the time or place…

Whenever the board of directors of a licensee amends the financing assistance policy of such licensee in any material respect or repeals the licensee's financing assistance policy and adopts a new financing assistance policy for the licensee, the licensee shall, not more than 30 …

This Subarticle contains regulations relating to unsafe and unsound acts regarding the transaction of business by a licensee.

This Article contains regulations relating to the records of a licensee. This Subarticle contains general provisions relating to the records of a licensee. Subarticle 2 (commencing with Section 50.14100) of this Article contains regulations relating to the records of a licensee r…

A licensee shall make and keep its records in conformity with generally accepted accounting principles.

Pursuant to Financial Code Section 31508, approval is granted for a licensee to have any responsible storage facility in the State of California keep records of such licensee which are not required by the licensee for the transaction of current business.

As an administrative standard, the Commissioner generally will deny an application by a licensee for approval to have another person make or keep any of the records of such licensee in a case where it is proposed that the other person provide data processing services for the lice…

As an administrative standard, the Commissioner generally will not approve an application by a licensee for approval to have another person make or keep any of the records of such licensee unless such other person will make and keep such records within the State of California.

This Article contains regulations relating to reports required of a licensee and of other persons. This Subarticle contains general provisions relating to reports required of a licensee and of other persons. Subarticle 2 (commencing with Section 50.15100) of this Article contains…

In this Article, “annual report to the Commissioner,” when used with respect to a licensee, means the report which such licensee is required to file with the Commissioner pursuant to Financial Code Section 31504.

(a) Provide a table showing, with respect to each director of the applicant: (1) Name. (2) Business address. (3) Home address. (4) Age. (5) Business or occupation. (6) Amount and types of securities of the applicant which the director owns or proposes to own, directly or indirect…

(a) Show that the office of the applicant is reasonably accessible to the public. (b) In case the applicant proposes to commence business with its office in temporary quarters and subsequently relocate its office to permanent quarters: (1) State the address or vicinity of the per…

State whether or not the applicant proposes to have any other person make or keep any of its records (except as provided in the blanket approvals set forth in Part 2 (commencing with Section 50.14225), Subarticle 3, Article 13 of this Subchapter). If so, provide the information c…

(a) Describe the applicant's plan for obtaining funds for use in operating its business and, in particular, for use in providing financing assistance to business firms. Such plans shall include the following: (1) Describe the means by which the applicant proposes to obtain funds …