No California industrial loan company may conduct any activity as an agent for an insured depository institution that the California industrial loan company would be prohibited from conducting as a principal.
Cal. Fin. Code § 18704
California Industrial Loan Company as Agent
Known as the Industrial Loan Law
The act spans §§ 18000–18707 (410 sections).
Amended by Stats. 1996, Ch. 887, Sec. 71
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.