An industrial loan company may declare a dividend on its capital stock only if the company has minimum unimpaired capital of seven hundred fifty thousand dollars ($750,000) plus additional capital stock of fifty thousand dollars ($50,000) for each branch office.
Cal. Fin. Code § 18132
Capitalization
Known as the Industrial Loan Law
The act spans §§ 18000–18707 (410 sections).
Repealed and added by Stats. 1983, Ch. 858, Sec. 8.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.