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.

(Repealed and added by Stats. 1983, Ch. 858, Sec. 8.)

Terms Used In California Financial Code 18132

  • Capital: as used in this division , consists of all of the following:

    California Financial Code 18018

  • Capital Stock: as used in this division , means one-class voting common stock. See California Financial Code 18019
  • company: as used in this division means a premium finance agency as defined in Section 18560. See California Financial Code 18003
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