This article does not apply to a California industrial loan company‘s having an insured depository institution engage in authorized agency activities as its agent in any case other than a case where, but for Section 18695, an office of the insured depository institution affiliate would for regulatory purposes be considered to be an office of the California industrial loan company.

(Amended by Stats. 1996, Ch. 887, Sec. 66. Effective September 25, 1996.)

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Terms Used In California Financial Code 18697

  • Authorized agency activities: includes ministerial functions such as providing loan applications, assembling documents, providing a location for returning documents necessary for making a loan, providing loan account information, receiving payments, disbursing loan funds, evaluating loan applications, and other activities that the commissioner may specify by rule or order. See California Financial Code 18660
  • company: as used in this division means a premium finance agency as defined in Section 18560. See California Financial Code 18003
  • Depository institution affiliate: means a depository institution affiliate within the meaning of Section 18(r) of the Federal Deposit Insurance Act (18 U. See California Financial Code 18660
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