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 1428 - Loan Documents: When Loan is Transferred Within a Company
Except as otherwise provided by Section 22158 of the Financial Code, whenever any loan is transferred within the same company outside the State for any reason, or to an unlicensed affiliate wherever located for any reason, a finance company shall maintain at its licensed location, the original or exact copy of the Statement of Loan and any other disclosure statement used to comply with Section 22337 of the Financial Code, Payment Record and a record identifying the loan, the date of transfer, and the receiving office. However, except as otherwise provided by Section 22158, when a loan is sold, transferred, or assigned to another licensed location of the same company within the State of California, only a record identifying the loan, the date of transfer, and the receiving office need be maintained by the sending office and thereafter the branch office receiving said loan shall maintain the required documents in its files.
1. Amendment
filed 12-29-83; effective thirtieth day thereafter (Register 83, No.
53).
2. Amendment 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).
Note: Authority cited: Section 22150, Financial Code. Reference: Sections 22156, 22157, 22158, 22337 and 22709, Financial Code.
