§ 18342 Industrial Loan Company Powers

Financial Code·California

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Key Takeaways

•Industrial loan companies can do what the law says they can do.
•They also have the same basic powers as regular companies.
•The government boss (commissioner) watches over them and can set rules.

Example

A company wants to lend money to people to buy cars.

This company must follow the rules for industrial loan companies, just like all regular companies follow basic business rules. The government boss makes sure they don’t do anything shady.

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

Official Source

View on CA.gov

§ 18342 Industrial Loan Company Powers

Industrial loan companies have the powers specified in this division. In addition, industrial loan companies have the general powers conferred upon corporations by the General Corporation Law. The powers granted, including those granted by the General Corporation Law, are subject to the supervision and control of, and the conditions imposed by, the commissioner. (Amended by Stats. 1989, Ch. 663, Sec. 11. Operative January 1, 1991, by Sec. 20 of Ch. 663.)

Last verified: January 23, 2026

Key Terms

industrial loan companies General Corporation Law commissioner

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 18342.

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Key Takeaways

Example

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Related Statutes

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