An industrial loan company may make a consumer loan in which the principal and charges are payable at any time during the loan, provided that the loan is secured at all times at least 100 percent by either investment certificates of an industrial loan company authorized to conduct business in the State of California under this division or traded securities.
Cal. Fin. Code § 18208
Terms and Maximum Charges
Known as the Industrial Loan Law
The act spans §§ 18000–18707 (410 sections).
Repealed and added by Stats. 1976, Ch. 964.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.