California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 6 - California Financing Law
Article 4 - Loans
Section 1445 - Limitation on Loans Made to Finance Sales in Connection with Other Business
No finance company shall make a loan to finance a retail sale made in connection with any "other business" authorized in accordance with Section 22154 of the Financial Code. This means that if a license has been granted to someone engaged in a retail sales business in accordance with Section 22154, no retail sales may be financed by the making of a loan. A loan may be made however, to refinance a sales contract which originated from such a retail sale if the loan complies with Section 22341 of the Financial Code.
1. Amendment
filed 12-29-83; effective thirtieth day thereafter (Register 83, No.
53).
2. Change without regulatory effect amending first paragraph,
repealing subsections (a) and (b), and amending NOTE filed 1-14-93 pursuant to
section 100, title 1, California Code of
Regulations (Register 93, No. 3).
3. 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 22150, 22154, 22326 and 22341, Financial Code.
