California Administrative Code

A loan made or obligation purchased shall be considered unsecured within the meaning of Section 18271 of the Financial Code and Sections 40.401 and 40.613 of this Chapter unless the collateral given as security is supported by an adequate written appraisal or the market value the…

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…

(a) The title to any property acquired by foreclosure or by deed in lieu of foreclosure must be in the name of the industrial loan company, and the deed immediately recorded. The property shall be accounted for in the appropriate real property held for sale account. Subsidiary le…

An industrial loan company shall use the following account numbers and titles. Additional accounts to be used must have titles that are adequately explanatory and must be numbered under the appropriate grouping. However, an industrial loan company formed prior to Janaury 1, 1974 …

An industrial loan company shall employ a system which provides a current, reasonable accounting of its unearned charges and discount for loans made and obligations purchased. Acquisition costs shall not be taken into income. An industrial loan company that does not maintain a pe…

A ratio of certificates to capital and surplus restricted as to payment of cash dividends under section 18319 of the Financial Code, of 20 to 1 will ordinarily be granted to established companies with records of sound performance. The Commissioner may, in other cases, limit the r…

(a) The application filed by an industrial loan company for authority to increase its ratio of certificates to capital and surplus restricted as to payment of cash dividends pursuant to subdivisions (b), (c) and (d) of Section 18320 of the Financial Code shall be accompanied by t…

The term “traded securities” as used in Section 18208 of the Financial Code and in this Subchapter means a security which is either listed or admitted to trading on a national securities exchange or which has a substantial and active market and is subject to two-way quotations (i…

(a) If applicant is planning to produce a “qualified motion picture,” then applicant shall ensure that the “qualified motion picture” complies with the provisions of sections 17053.98 (b)(18) and 23698 (b)(18) of the Revenue and Taxation Code and applicant must film at least seve…

(a) The following types of insurance may be required and sold by industrial loan companies: (1) Material damage insurance on motor vehicles (including motorcycles, mobile homes and other vehicles licensed by the Department of Motor Vehicles), boats and aircraft may be required an…

(a) Subject to the provisions of Subsection (b), fire insurance on household goods, if the resulting coverage would exceed the lesser of the principal amount of the loan or the balance of the loan at the time the insurance is sold, rounded to the next $500, shall not be required,…

An industrial loan company shall not, as a condition precedent to the making of a loan, require a borrower to cancel any existing insurance. The borrower shall have sole discretion as to whether existing insurance shall be maintained or canceled.

(a) The premiums for vendors single interest insurance shall not be charged to borrowers. (b) The sale of any participating deductible coverage insurance shall be considered unreasonable unless, in addition to complying with the other applicable provisions of these rules, the fol…

Nothing in these regulations shall be construed to authorize the sale of insurance by any person other than one who holds a valid license from the Insurance Commissioner authorizing such person to act in such capacity.

(a) When required insurance expires prior to the maturity date of a loan, an industrial loan company may require additional insurance in a reasonable amount and for a reasonable period, considering the circumstances of the loan. (b) The premium on the additional insurance shall n…

An industrial loan company which requires or solicits insurance in connection with a loan shall comply with Article 5.5 of Chapter 1 of Part 2 of Division 1 of the Insurance Code.

Neither an industrial loan company, a company affiliated with such industrial loan company, nor officers, directors or employees of such industrial loan company or affiliate, shall act as adjuster of, or in any manner exercise control or supervision over the adjustment of any ins…

(a) Any person engaged in the business of financing the purchase of real or personal property or of lending money on the security of real or personal property and the trustee, director, officer, agent or other employee or affiliate of any such person shall have the right to appro…

(a) An industrial loan company shall not offer or sell credit insurance in any manner which restricts a borrower's ability to voluntarily select or reject credit life or credit disability insurance or both. (b) An industrial loan company shall use a written form (which may be sep…

(a) In addition to the items described in section 4020.4 and 4020.6, each Application shall contain the information listed in subsections (b) through (g). A panel consisting of not fewer than three (3) nor more than six (6) professional, full-time employees of the Agency shall ev…

(a) All Proposals shall include a completed Manufacturing Technology Program Proposal Form (6/97 revision date), a completed Manufacturing Technology Program Budget Form (6/97 Revision date), a Proposal body, a certification signed by the Applicant's authorized representative, an…

(a) An eligible Proposal is one which meets all of the following requirements: (1) It is submitted by a qualified Applicant as defined in Section 4080.1(b). (2) It is the only Proposal submitted by the Applicant. (3) If the Solicitation for a specific Grant cycle specifies that f…

(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…

The terms and conditions of an ILOC shall be consistent with the resolution of the Corporation approving the ILOC and shall include all of the following: (a) Provision that the Corporation promises to pay a specified amount to Surety upon Surety establishing a claim reserve. (b) …

The Political Reform Act of 1974 (Government Code Section 81000, et seq.) requires state and local government agencies to adopt and promulgate conflict of interest codes. The Fair Political Practices Commission has adopted a regulation (2 California Code of Regulations Section 18…

Whenever an application, when received at an office of the Commissioner, is deficient in that it fails to comply in any respect with the requirements prescribed by the Commissioner, this Chapter, or any law administered by the Commissioner: (a) At any time within ten business day…

The Commissioner may, at any time, by notice served on an applicant, request that the applicant file additional information and fix the time within which the applicant shall file such additional information. If the applicant fails to file such additional information within such t…

An applicant may, with the consent of the Commissioner, withdraw an application.

Two or more reports may be combined in the same document if all such reports: (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 proposals.

(a) A report shall be dated and shall set forth the name, address, and telephone number of the person making the report, identify the subject matter of the report, and contain such other information as the Commissioner, this Chapter, or any law administered by the Commissioner ma…

(a) In any proceeding before the Commissioner, any person may be represented by an attorney at law. However, any individual may appear in his own behalf; any partnership may be represented by a partner; and any corporation may be represented by an officer. (b) Any person who repr…

As an administrative standard, the Commissioner generally will deny an application if the payment of, or amount of, the fee of any person who assisted in the preparation of such application or who represents the applicant is contingent upon the Commissioner's decision on the appl…

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) Whenever the Commissioner issues an accusation, he shall promptly serve a notice of adjudicatory hearing on the respondent. A notice of adjudicatory hearing shall be in writing, signed by the Commissioner, and shall contain the following: (1) Copy of the accusation. (2) Time …

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.

(a) Provide the following financial statements of the applicant: (1) Balance sheet as of a date within 30 days before the filing of the application. (2) If the balance sheet called for in Paragraph (1) of this Subdivision (a) is not as of the end of a fiscal year of the applicant…

In case the applicant was incorporated within three years before the filing of the application, state whether or not there is any promoter of the applicant who is neither a director, officer, controlling person, nor proposed controlling person of the applicant, and, if so, with r…

This Subarticle contains regulations which set forth administrative standards and procedures relating to an application for license.

In case the applicant is an old corporation, state whether or not the applicant has any members, and, if so, with respect to each member: (a) State the name and address of the member. (b) Describe the terms of the member's membership. (c) State whether or not the member proposes …

(a) In this section, “subject person,” when used with respect to the applicant, means: (1) Any individual who controls, or is proposed to control, the applicant; (2) Any person (other than an individual) which controls or proposes to control the applicant or which otherwise is, o…

State whether or not the applicant has, or proposes to obtain, any license from a governmental agency other than a license from the Commissioner pursuant to the Business and Industrial Development Corporations Law, and, if so, state, with respect to each such license: (a) Name of…

Show that the licensing of the applicant will promote the public convenience and advantage.

This Subarticle contains regulations relating to matters after an application for a license is approved by the Commissioner.

In case a provision of this Subarticle calls for an applicant to file a document with the Commissioner not less than a specified number of days or business days before such applicant is issued a license, the applicant is encouraged to make the filing before such deadline, if poss…

Not less than five business days before an applicant is issued a license, such applicant shall implement each of the proposals which it represented in its application for a license, explicitly or implicitly, that it would implement before commencing business (for example, proposa…

On or before the tenth business day of each month after the month in which an applicant commences business and continuing until the Commissioner orders otherwise, such applicant shall file with the Commissioner a balance sheet as of the end of, and a statement of income for, the …

Except as otherwise expressly provided in this Subchapter, the references in this Subchapter to corporations or to aspects of corporations apply to all corporations, whether for profit or nonprofit. For the sake of convenience, references in this Subchapter to corporations and to…

An application by a licensee for approval pursuant to Article 4 (commencing with Section 31230), Chapter 4 of the Business and Industrial Development Corporations Law to make, or to obligate itself to make, a distribution to its shareholders shall contain the following informatio…

§ 936.13.2. IWMA Evaluation Area. [Repealed] This database is current through 5/1/26 Register 2026, No. 18. Source: https://govt.westlaw.com/calregs/Document/I347A43455B4D11EC976B000D3A7C4BC3?viewType=FullText&originationContext=documenttoc&transitionType=CategoryPageItem&context…