An industrial loan company shall not induce or permit any borrower to split up or divide any loan and thereby contract for or receive a higher rate of charge than would otherwise be permitted by this division.
Cal. Fin. Code § 18219
Terms and Maximum Charges
Known as the Industrial Loan Law
The act spans §§ 18000–18707 (410 sections).
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.