State Codes and Statutes

Statutes > California > Fin > 18145-18154

FINANCIAL CODE
SECTION 18145-18154



18145.  Subject to Section 18145.1, when authorized by the
commissioner as provided in this division, an industrial loan
company, pursuant to a resolution of its board of directors, may
establish and maintain one or more branch offices within the state.




18145.1.  (a) The commissioner may, by order or regulation, exempt
from the requirement of authorization by the commissioner set forth
in Section 18145 any establishment of an office or place of business
that the commissioner finds not necessary or appropriate to regulate
under that section.
   (b) In granting an exemption under this section, the commissioner
may impose any conditions that the commissioner finds necessary or
appropriate.



18146.  The request for authority to establish a branch office shall
be set forth in an application in such form and containing such
information as the commissioner may require and shall be accompanied
by an application fee of one hundred dollars ($100) for each new
branch office.



18147.  The commissioner shall not approve an application for a
branch office until the commissioner has ascertained to the
commissioner's satisfaction that the facts set forth in the
application are true and:
   (a) That the public convenience and advantage will be promoted by
the establishment of the proposed branch office.
   (b) That the industrial loan company has the capital required by
this division.
   (c) That the industrial loan company has established branch
operational controls.
   (d) That the financial condition of the industrial loan company
justifies the establishment of the proposed branch office.
   (e) (1) As to an industrial loan company transacting business
before October 1, 1985, that the industrial loan company is a member
of the Federal Deposit Insurance Corporation, or (2) as to an
industrial loan company commencing business on or after October 1,
1985, that the industrial loan company is a member of the Federal
Deposit Insurance Corporation.



18148.  The failure of an industrial loan company to open and
operate a branch office within six months after the commissioner has
issued an order approving the application for a branch office shall
automatically terminate the right of the industrial loan company to
open the branch office. However, the commissioner may for good cause
on written application made before the expiration of the six months'
period, extend for additional periods, not in excess of six months
each, the time within which the branch office may be opened.



18149.  When the commissioner has approved an application for
permission to establish a branch office and the applicant pays to the
commissioner an additional fee of one hundred dollars ($100) for a
certificate of authorization to transact business, the commissioner
shall issue a certificate of authorization to transact business
authorizing the opening and operation of the branch office and
specifying the date on which and the conditions under which it may be
opened and the place where it will be located.



18150.  An industrial loan company shall keep posted in a
conspicuous place in each branch office the certificate of
authorization to transact business issued by the commissioner
permitting the operation of the branch office.



18151.  An industrial loan company which opens a branch office
without first obtaining a certificate of authorization to transact
business shall forfeit to the people of the state the sum of one
hundred dollars ($100) for every day during which the branch office
is maintained without authority.



18152.  The provisions of Sections 18146, 18147, 18148, 18149,
18150, and 18151 shall not affect branch offices which are opened and
operating prior to September 18, 1959.



18153.  An industrial loan company which maintains a branch office
or branch offices shall give to each branch office maintained by it a
specified designation by name or number and include in the
designation the word "branch" or the word "office" and shall
prominently display the designation at the place of business of the
branch.



18154.  With the prior written approval of the commissioner, an
industrial loan company may close or discontinue the opertion of any
branch office provided public notice thereof is given in such manner
as the commissioner directs at least 30 days before the date of
closing or discontinuance.
   After a branch office has been closed or discontinued, it may not
be reopened without the approval of the commissioner and compliance
with the applicable provisions of this division.

State Codes and Statutes

Statutes > California > Fin > 18145-18154

FINANCIAL CODE
SECTION 18145-18154



18145.  Subject to Section 18145.1, when authorized by the
commissioner as provided in this division, an industrial loan
company, pursuant to a resolution of its board of directors, may
establish and maintain one or more branch offices within the state.




18145.1.  (a) The commissioner may, by order or regulation, exempt
from the requirement of authorization by the commissioner set forth
in Section 18145 any establishment of an office or place of business
that the commissioner finds not necessary or appropriate to regulate
under that section.
   (b) In granting an exemption under this section, the commissioner
may impose any conditions that the commissioner finds necessary or
appropriate.



18146.  The request for authority to establish a branch office shall
be set forth in an application in such form and containing such
information as the commissioner may require and shall be accompanied
by an application fee of one hundred dollars ($100) for each new
branch office.



18147.  The commissioner shall not approve an application for a
branch office until the commissioner has ascertained to the
commissioner's satisfaction that the facts set forth in the
application are true and:
   (a) That the public convenience and advantage will be promoted by
the establishment of the proposed branch office.
   (b) That the industrial loan company has the capital required by
this division.
   (c) That the industrial loan company has established branch
operational controls.
   (d) That the financial condition of the industrial loan company
justifies the establishment of the proposed branch office.
   (e) (1) As to an industrial loan company transacting business
before October 1, 1985, that the industrial loan company is a member
of the Federal Deposit Insurance Corporation, or (2) as to an
industrial loan company commencing business on or after October 1,
1985, that the industrial loan company is a member of the Federal
Deposit Insurance Corporation.



18148.  The failure of an industrial loan company to open and
operate a branch office within six months after the commissioner has
issued an order approving the application for a branch office shall
automatically terminate the right of the industrial loan company to
open the branch office. However, the commissioner may for good cause
on written application made before the expiration of the six months'
period, extend for additional periods, not in excess of six months
each, the time within which the branch office may be opened.



18149.  When the commissioner has approved an application for
permission to establish a branch office and the applicant pays to the
commissioner an additional fee of one hundred dollars ($100) for a
certificate of authorization to transact business, the commissioner
shall issue a certificate of authorization to transact business
authorizing the opening and operation of the branch office and
specifying the date on which and the conditions under which it may be
opened and the place where it will be located.



18150.  An industrial loan company shall keep posted in a
conspicuous place in each branch office the certificate of
authorization to transact business issued by the commissioner
permitting the operation of the branch office.



18151.  An industrial loan company which opens a branch office
without first obtaining a certificate of authorization to transact
business shall forfeit to the people of the state the sum of one
hundred dollars ($100) for every day during which the branch office
is maintained without authority.



18152.  The provisions of Sections 18146, 18147, 18148, 18149,
18150, and 18151 shall not affect branch offices which are opened and
operating prior to September 18, 1959.



18153.  An industrial loan company which maintains a branch office
or branch offices shall give to each branch office maintained by it a
specified designation by name or number and include in the
designation the word "branch" or the word "office" and shall
prominently display the designation at the place of business of the
branch.



18154.  With the prior written approval of the commissioner, an
industrial loan company may close or discontinue the opertion of any
branch office provided public notice thereof is given in such manner
as the commissioner directs at least 30 days before the date of
closing or discontinuance.
   After a branch office has been closed or discontinued, it may not
be reopened without the approval of the commissioner and compliance
with the applicable provisions of this division.


State Codes and Statutes

State Codes and Statutes

Statutes > California > Fin > 18145-18154

FINANCIAL CODE
SECTION 18145-18154



18145.  Subject to Section 18145.1, when authorized by the
commissioner as provided in this division, an industrial loan
company, pursuant to a resolution of its board of directors, may
establish and maintain one or more branch offices within the state.




18145.1.  (a) The commissioner may, by order or regulation, exempt
from the requirement of authorization by the commissioner set forth
in Section 18145 any establishment of an office or place of business
that the commissioner finds not necessary or appropriate to regulate
under that section.
   (b) In granting an exemption under this section, the commissioner
may impose any conditions that the commissioner finds necessary or
appropriate.



18146.  The request for authority to establish a branch office shall
be set forth in an application in such form and containing such
information as the commissioner may require and shall be accompanied
by an application fee of one hundred dollars ($100) for each new
branch office.



18147.  The commissioner shall not approve an application for a
branch office until the commissioner has ascertained to the
commissioner's satisfaction that the facts set forth in the
application are true and:
   (a) That the public convenience and advantage will be promoted by
the establishment of the proposed branch office.
   (b) That the industrial loan company has the capital required by
this division.
   (c) That the industrial loan company has established branch
operational controls.
   (d) That the financial condition of the industrial loan company
justifies the establishment of the proposed branch office.
   (e) (1) As to an industrial loan company transacting business
before October 1, 1985, that the industrial loan company is a member
of the Federal Deposit Insurance Corporation, or (2) as to an
industrial loan company commencing business on or after October 1,
1985, that the industrial loan company is a member of the Federal
Deposit Insurance Corporation.



18148.  The failure of an industrial loan company to open and
operate a branch office within six months after the commissioner has
issued an order approving the application for a branch office shall
automatically terminate the right of the industrial loan company to
open the branch office. However, the commissioner may for good cause
on written application made before the expiration of the six months'
period, extend for additional periods, not in excess of six months
each, the time within which the branch office may be opened.



18149.  When the commissioner has approved an application for
permission to establish a branch office and the applicant pays to the
commissioner an additional fee of one hundred dollars ($100) for a
certificate of authorization to transact business, the commissioner
shall issue a certificate of authorization to transact business
authorizing the opening and operation of the branch office and
specifying the date on which and the conditions under which it may be
opened and the place where it will be located.



18150.  An industrial loan company shall keep posted in a
conspicuous place in each branch office the certificate of
authorization to transact business issued by the commissioner
permitting the operation of the branch office.



18151.  An industrial loan company which opens a branch office
without first obtaining a certificate of authorization to transact
business shall forfeit to the people of the state the sum of one
hundred dollars ($100) for every day during which the branch office
is maintained without authority.



18152.  The provisions of Sections 18146, 18147, 18148, 18149,
18150, and 18151 shall not affect branch offices which are opened and
operating prior to September 18, 1959.



18153.  An industrial loan company which maintains a branch office
or branch offices shall give to each branch office maintained by it a
specified designation by name or number and include in the
designation the word "branch" or the word "office" and shall
prominently display the designation at the place of business of the
branch.



18154.  With the prior written approval of the commissioner, an
industrial loan company may close or discontinue the opertion of any
branch office provided public notice thereof is given in such manner
as the commissioner directs at least 30 days before the date of
closing or discontinuance.
   After a branch office has been closed or discontinued, it may not
be reopened without the approval of the commissioner and compliance
with the applicable provisions of this division.

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