Title FIN — California Fin. Code

Each licensee shall keep and use books, accounts, and records that will enable the commissioner to determine if the licensee is complying with the provisions of this division and with the rules and regulations promulgated by the commissioner. Each licensee shall maintain any othe…

The department shall maintain a toll-free telephone number for deferred deposit transaction customers to make complaints and express concerns regarding the product or a specific licensee.

On or before March 15 of each year, beginning March 2006, each licensee shall file an annual report with the commissioner pursuant to procedures that the commissioner shall establish, giving the relevant information that the commissioner reasonably requires concerning the busines…

(a) No licensee shall advertise, print, display, publish, distribute, or broadcast, or cause or permit to be advertised, printed, displayed, published, distributed or broadcast, in any manner, any statement or representation with regard to the business subject to the provisions o…

This division may be known and cited as the “Student Loan Servicing Act.”

(a) No person shall engage in the business of servicing a student loan in this state without first obtaining a license pursuant to this division. A license shall not be transferable or assignable. (b) This division shall not apply to any of the following: (1) A bank, trust compan…

For the purposes of this division, the following terms have the following meanings: (a) “Applicant” means a person applying for a license pursuant to this division. (b) “Borrower” means either of the following: (1) A person who has received or agreed to pay a student loan. (2) A …

This division shall be known and may be cited as the “Business and Industrial Development Corporations Law”.

This division shall be liberally construed to accomplish its purposes.

No provision of this division imposing any liability applies to any act committed in good faith in conformity with any regulation, order, or written interpretive opinion of the commissioner or any such opinion of the Attorney General, notwithstanding that such regulation, order, …

In this division, unless otherwise expressly provided: (a) A reference to a statute or to a regulation includes such statute or regulation as amended, whether before or after the effective date of this division, as well as any new statute or regulation substituted for such statut…

Except as otherwise provided in Chapter 14 (commencing with Section 31950) of this division: (a) The provisions of the Nonprofit Corporation Law (Division 2 (commencing with Section 5000) of Title 1 of the Corporations Code) shall apply to any licensee which is a California nonpr…

If any provision of this division or the application thereof to any person or circumstances is held invalid, illegal, or unenforceable, such invalidity, illegality, or unenforceability shall not affect other provisions or applications of this division which can be given effect wi…

The Legislature finds all of the following: (a) That it is necessary to increase job opportunities in this state. (b) That promoting the establishment, growth, and expansion of business firms in this state is an efficient way to increase job opportunities in this state. (c) That …

(a) The purposes of this division are: (1) To provide for the licensing and regulation of business and industrial development corporations which will provide financing assistance and management assistance primarily to business firms in this state. (2) To provide for the licensing…

Subject to additional definitions contained in this division which are applicable to specific provisions of this division and unless the context otherwise requires, the definitions in this article apply throughout this division.

“Act” includes omission.

“Affiliate”, when used with respect to a specified person, means any person (other than a natural person) controlling, controlled by, or under common control with, such specified person, directly or indirectly through one or more intermediaries.

“Business day” means any day other than (a) Saturday, (b) Sunday, and(c) any other day which is specified or provided for as a holiday in the Government Code.

“Business firm” means any person which transacts business on a regular and continual basis, with respect to the transacting of such business.

“Business firm in another state” means both of the following: (a) Any person which transacts business on a regular and continual basis at one or more places of business in another state of the United States or the District of Columbia, with respect to the transacting of that busi…

“Business firm in this state” means: (a) Any person which transacts business on a regular and continual basis at one or more places of business in this state, with respect to the transacting of such business at such places of business; or (b) Any person which proposes to establis…

“California corporation” means: (a) Any corporation organized under the General Corporation Law (Division 1 (commencing with Section 100), Title 1 of the Corporations Code) or any predecessor statute; provided, however, that “California corporation” does not include any corporati…

“California nonprofit corporation” means any corporation organized under the Nonprofit Corporation Law (Division 2 (commencing with Section 5000) of Title 1 of the Corporations Code) or any predecessor statute.

“Control”, when used with respect to a specified person, means possession, direct or indirect, of the power to do either of the following: (a) To vote 35 percent or more of any class of the voting securities issued by the specified person. (b) To direct or cause the direction of …

“Controlling person”, when used with respect to a specified person, means any person who controls such specified person, directly or indirectly through one or more intermediaries.

“Corporate name” means the name of a corporation as set forth in the articles of incorporation of such corporation.

“Financial institution” means any commercial bank, trust company, savings and loan association, credit union, industrial loan company, insurance company, or person engaged in the business of lending money.

“Insolvent”, when used with respect to any person, means a person who has ceased to pay his debts in the ordinary course of business, who cannot pay his debts as they become due, or whose liabilities exceed his assets.

To “issue”, when used with respect to any regulation or order, includes to adopt, amend, repeal, or rescind.

“License” means a license issued under this division authorizing a California corporation to transact business as a business and industrial development corporation.

“Licensee” means a California corporation which is licensed under this division.

“Officer” means: (a) When used with respect to a corporation, any person appointed or designated as an officer of such corporation by or pursuant to applicable law or the articles of incorporation or bylaws of such corporation or any person who performs with respect to such corpo…

“Order” means any approval, consent, authorization, exemption, denial, prohibition, or requirement applicable to a specific case issued by the commissioner. “Order” includes any condition of a license and any agreement made by any person with the commissioner under this division.

“Parent,” when used with respect to a specified person other than a natural person, means any person other than a natural person which controls the specified person, directly or indirectly through one or more intermediaries.

“Person” means any natural person, proprietorship, joint venture, partnership, trust, business trust, syndicate, association, joint stock company, corporation, limited liability company, government, agency of any government, or any other organization; provided, however, that “per…

“Principal shareholder”, when used with respect to a corporation, means any person who owns, directly or indirectly, of record or beneficially, securities representing 10 percent or more of the voting power of such corporation.

To “provide financing assistance” to a person includes: (a) To lend money or otherwise extend credit to such person; (b) To purchase securities issued by such person, either directly or indirectly through an underwriter; and (c) To lease property to such person.

To “provide management assistance” to a person includes: (a) To provide management or technical advice to such person; and (b) To provide management or technical services to such person.

“Regulation” means any published regulation, rule, or standard of general application issued by the commissioner.

“Security” has the meaning set forth in Section 25019 of the Corporations Code.

“Subsidiary”, when used with respect to a specified person other than a natural person, means any person other than a natural person controlled by such specified person, directly or indirectly through one or more intermediaries.

“Commissioner” means the Commissioner of Financial Protection and Innovation, or other person to whom the commissioner delegates the authority to act for the commissioner in the particular matter.

“Voting power” has the meaning set forth in Corporations Code Section 194.5.

This division shall be known and may be cited as the “State Assistance Fund for Enterprise Act of 1989.”

In this division, unless the context otherwise requires: (a) A reference to a statute or to a regulation includes such statute or regulation as amended, whether before or after the effective date of this division, as well as any new statute or regulation substituted for such stat…

If any provision of this division or the application thereof to any person or circumstances is held invalid, illegal, or unenforceable, such invalidity, illegality, or enforceability shall not affect other provisions or applications of this division which can be given effect with…

The purposes of this division are the following: (a) To enhance the availability of financial assistance for small business in California. (b) To increase the cost effectiveness and efficiency of financial assistance to small businesses provided by the state. (c) To provide maxim…

Subject to additional definitions contained in Division 15 (commencing with Section 31000) and this division which are applicable to specific provisions of these divisions and unless the context otherwise requires, the definitions in this article apply throughout this division.

“Alternative energy system” means any device or combination of devices which conserves or produces heat, process heat, space heating, water heating, steam, space cooling, refrigeration, mechanical energy, electricity, or energy in any form convertible to these uses, which does no…