No industrial loan company organized under the laws of this state shall offer or sell any security issued by it unless the commissioner has issued a permit authorizing such sale.
Cal. Fin. Code § 18427.1
Securities Transactions
Known as the Industrial Loan Law
The act spans §§ 18000–18707 (410 sections).
Repealed and added by Stats. 1996, Ch. 1064, Sec. 600
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.