Fin. Code, § 18321 · Chapter 4. Investment Certificates
Fin. Code, § 18321
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) Nothing in this division authorizes an industrial loan company to receive demand deposits.
(b) Subject to Section 18315, an industrial loan company that is a member of the Federal Deposit Insurance Corporation pursuant to Section 18521.5 may use the term “certificate of deposit” as defined in Section 18003.6 with respect to an investment certificate that does not authorize either of the following:
(1) Redemption prior to its maturity.
(2) Reduction of the interest rate payable thereon other than a variable interest rate.
Notes and commentary — not statutory text
History
Amended by Stats. 1999, Ch. 345, Sec. 3. Effective January 1, 2000.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=18321.
- Text hash
- sha256 667d237e0ed74cadb3de7c6a6e5f52804d23579d93d3ddde48dfe23941d71534
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
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