Cal. Financial Code § 18343
Cal. Financial Code § 18343
California · California Financial Code · Status: effective
Cite this
- Citation
- Cal. Financial Code § 18343, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/815158
- Permanent ID
ys:prov:815158@1- SHA-256
f480e4ccfd5db0287f29019d10a939cea89408bb95e768072958fa17bf48a2fb
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
The commissioner may require an industrial loan company to establish and maintain reasonable reserves for loans made, and contracts or other obligations purchased or discounted in accordance with sound business practices. The commissioner may by rule or order:
(a) Establish reasonable standards for the classification of loans and contracts or other obligations as to their delinquency or currency.
(b) Prescribe the conditions requiring the writing off of delinquent loans and contracts or other obligations and the conditions under which they may be restored as part of corporate assets.
(c) Establish the basis upon which reasonable and adequate reserves shall be created and maintained.