Financial Code section 18120

Before the commissioner issues a certificate of authorization to operate as an industrial loan company, there must be paid in cash for the benefit of the corporation, the minimum capital stock and minimum paid-in surplus or reserve required pursuant to Article 3 (commencing with Section 18130) of this chapter.

Source: Section 18120, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=FIN§ionNum=18120.­ (updated Jan. 1, 1977; accessed Jun. 25, 2025).

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Verified:
Jun. 25, 2025

§ 18120's source at ca​.gov