California Code of Regulations
Title 10 - Investment
Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions
Subchapter 40 - Industrial Loans
Article 4 - Reserves
Section 40.402 - Control of Accounts Charged-off
Universal Citation: 10 CA Code of Regs 40.402
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
Accounts charged-off on which the industrial loan company intends to pursue collection efforts or expects to realize further recoveries shall be posted to a control account. Charge-offs shall remain in the control account for as long as any recoveries are being made or contemplated.
1. Change without regulatory effect renumbering former section 1143 to new section 40.402 and adding new NOTE filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).
Note: Authority cited: Section 18347, Financial Code. Reference: Section 18343, Financial Code.
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