Cal. FIN § 18316
This is the official text of Cal. FIN § 18316, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
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Official statutory text
An industrial loan company may, in addition to the sale of installment investment certificates with loans, sell or negotiate investment certificates either in certificates, or in receipt book form. The certificates may provide for the payment of money at any time, either fixed or uncertain. The company may receive payments therefor in installments or otherwise, with or without an allowance of interest upon such installments.
Status: in_force · Read it on the official government site
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