§ 18057 Industrial Loan Advertising Restrictions

Financial Code·California

AI SummaryVerified

This law stops industrial loan companies from advertising in a way that makes people think they are a savings association.

Key Takeaways

•You can't say you're a savings association in any ads.
•You can't imply that you are a savings association.
•You can't use anything that might make people think you are a savings association.

Example

A loan company puts up a billboard that says "Your money is safe with us like a bank"

The billboard suggests the company is a bank or savings group, which is not allowed because they are not a savings association.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 18057 Industrial Loan Advertising Restrictions

An industrial loan company shall not use any advertising nor make any representations which indicate, imply or might lead a person to believe that the company is a savings association. (Amended by Stats. 1996, Ch. 1064, Sec. 585. Effective January 1, 1997. Operative July 1, 1997.)

Last verified: January 11, 2026

Key Terms

industrial loan company advertising representations savings association

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 18057.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References