2021 California Code
Financial Code - FIN
DIVISION 7 - INDUSTRIAL LOAN COMPANIES
CHAPTER 3 - Loans and Purchased Obligations
ARTICLE 6.5 - Open-End Loans
The commissioner shall approve the request made pursuant to Section 18302 within 30 days after filing unless the commissioner has ascertained that the company has failed to show either of the following:
(a) That the proposed plan of business has a reasonable promise of a successful operation.
(b) That the company has a person with the necessary business qualifications, experience, or ability to direct and manage the operations of the plan of business.
(Added by Stats. 1989, Ch. 889, Sec. 6.)