§ 18340 Industrial Loan Fund Deposits

• •Any money collected by the commissioner from industrial loan companies goes into a special state account.
• •This money is not kept by the commissioner or used for other things—it must go to the Industrial Loan Account.
• •The rule has been in place since 1997.

A company that lends money to people for small loans pays a fee to the state.

That fee doesn’t go into the commissioner’s pocket or a random fund—it must go into the Industrial Loan Account in the state’s bank.