Cal. FIN § 18022
This is the official text of Cal. FIN § 18022, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
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Official statutory text
No industrial loan company shall invest any of its funds, except as authorized in this division. Industrial loan companies may invest their funds in investments that are legal investments for commercial banks, including the capital stock, obligations, or other securities of one or more corporations, subject to rules and orders prescribed by the commissioner. Companies may also invest their funds in the choses in action issued by any other industrial loan company.
Status: in_force · Read it on the official government site
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