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HomeFinancial CodeDiv. 7Ch. 10Art. 3§ 18680 Foreign Industrial Loan Restrictions

§ 18680 Foreign Industrial Loan Restrictions

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

§ 18680 Foreign Industrial Loan Restrictions

Key Takeaways

  • •A company from another state that lends money for businesses can't just start working here.
  • •They have to open a branch office here first.
  • •The branch office must follow both federal laws and the laws of the state where the company is from.

Example

A company from Texas wants to lend money to small businesses in California.

They can't just start lending money here. They need to open a branch office in California and follow both federal laws and Texas laws.

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

Official Source
View on CA.gov

§ 18680 Foreign Industrial Loan Restrictions

No foreign (other state) industrial loan company may transact core business in this state except at a branch office established in accordance with federal law and the law of the domicile of the industrial loan company. (Added by Stats. 1995, Ch. 479, Sec. 7. Effective October 2, 1995.)

Last verified: January 23, 2026

Key Terms

foreign industrial loan companycore businessbranch officefederal lawlaw of the domicile

Related Statutes

  • § 18682 Foreign Loan Company Branches
  • § 18683 Foreign Industrial Loan Branches
  • § 18684 Foreign Industrial Loan Mergers
  • § 18685 Foreign Industrial Loan Mergers
  • § 1680 Foreign Bank Branch Requirements

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 18680.
View Official Source