California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 6 - California Financing Law
Article 3 - Books, Records and Examinations
Section 1425 - Books and Records: To be Maintained at the Licensed Place of Business

Universal Citation: 10 CA Code of Regs 1425

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

(a) Except as otherwise provided by section 22158 of the Financial Code, a finance company shall always maintain its books, records, and accounts physically at or digitally accessible from its licensed location.

(b) The individual loan records required to be maintained by a finance company shall include at least the following: The Statement of Loan or other disclosure statements used to comply with section 22337 of the Financial Code, Security Agreement or Wage Assignment, Promissory Note, Loan Application, Payment Record, Escrow Closing Statement (if applicable), Insurance Policies or memoranda, when insurance other than Credit Insurance has been sold, and such records as the Commissioner may designate.

(c) A program administrator shall maintain its books and records in accordance with the requirements in article 15 of this subchapter 6.

1. Amendment filed 12-29-83; effective thirtieth day thereafter (Register 83, No. 53).
2. Amendment of NOTE filed 5-16-84; effective thirtieth day thereafter (Register 84, No. 20).
3. Amendment filed 2-21-85; effective thirtieth day thereafter (Register 85, No. 8).
4. Change without regulatory effect amending section and NOTE filed 6-14-95 pursuant to section 100, title 1, California Code of Regulations (Register 95, No. 24).
5. Amendment filed 8-5-2021; operative 10-1-2021 (Register 2021, No. 32). Transmission deadline specified in Government Code section 11346.4(b) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20. Filing deadline specified in Government Code section 11349.3(a) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20.

Note: Authority cited: Section 22150, Financial Code. Reference: Sections 22156, 22157, 22158, 22337 and 22709, Financial Code.

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