No foreign (other state) industrial loan company may transact core business in this state except at a branch office established in accordance with federal law and the law of the domicile of the industrial loan company.

(Added by Stats. 1995, Ch. 479, Sec. 7. Effective October 2, 1995.)

Terms Used In California Financial Code 18680

  • company: as used in this division means a premium finance agency as defined in Section 18560. See California Financial Code 18003
  • Core business: means the business of issuing investment certificates, making loans, and other activities that the commissioner may specify by rule or order. See California Financial Code 18660
  • Law of the domicile: when used with respect to an industrial loan company, means the law of the state of the United States, as defined in Section 146. See California Financial Code 18660
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