§ 18100 Industrial Loan Company Formation

Financial Code·California

AI SummaryVerified

This law says a company can be created or changed to lend money for things like small loans, but only if the state says it's okay.

Key Takeaways

•A company needs state approval to start or change into a business that gives out small loans.
•The rules for creating this kind of company are mostly the same as for other companies in California.
•This law only applies to companies that want to do industrial loan business.

Example

A group of people want to start a company that gives small loans to others for things like fixing a car or paying bills.

They need to get permission from the state first before they can legally do this.

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

Official Source

View on CA.gov

§ 18100 Industrial Loan Company Formation

When authorized by the commissioner as provided in this chapter, a corporation may be organized under the laws of this state, or an existing California corporation may amend its articles of incorporation, to engage in an industrial loan business. Except as otherwise provided in this division, an industrial loan company may be incorporated pursuant to Division 1 (commencing with Section 100), Title 1, of the Corporations Code. (Added by Stats. 1976, Ch. 964.)

Last verified: January 11, 2026

Key Terms

industrial loan business industrial loan company Division 1 Corporations Code

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 18100.

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Key Takeaways

Example

Key Terms

Related Statutes

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