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HomeFinancial CodeDiv. 7Ch. 5Art. 1§ 18344 Loan Office Business Restrictions

§ 18344 Loan Office Business Restrictions

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 18344 Loan Office Business Restrictions

Key Takeaways

  • •A company that gives out loans can't do other business stuff in the same place unless they get special permission.
  • •The boss (commissioner) has to say it's okay first, and only if the other business won't help people break the rules.
  • •This rule is to make sure loan companies don't trick people or break the law.

Example

A loan company wants to sell insurance in the same office where they give out loans.

They can't do this unless the commissioner says it's okay. The commissioner will check if selling insurance there could help people avoid following the loan rules.

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

Official Source
View on CA.gov

§ 18344 Loan Office Business Restrictions

An industrial loan company shall not conduct the business of making loans under this division, within any office, room, or place of business in which any other business is solicited or engaged in, or in association or conjunction therewith, except as is authorized in writing by the commissioner upon the commissioner’s finding that the character of the other business is such that the granting of the authority would not facilitate evasions of this division or of the rules and regulations made pursuant to this division. (Added by Stats. 1976, Ch. 964.)

Last verified: January 23, 2026

Key Terms

industrial loan companycommissionerevasions of this division

Related Statutes

  • § 18345 Management Personnel Change Reporting
  • § 18349 License Suspension Or Revocation
  • § 18353 Industrial Loan Company Penalties
  • § 18354 Witness Testimony In Examinations
  • § 18356 Commissioner Enforcement Orders

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 18344.
View Official Source