Section 18116 Of Article 2. Applications From California Financial Code >> Division 7. >> Chapter 2. >> Article 2.
18116
. Upon the filing of an application, the commissioner shall
make or cause to be made a careful investigation and examination
relative to the following:
(a) The background and experience of the organizers or
incorporators, the proposed officers and managers, and the proposed
stockholders and directors.
(b) The need for industrial loan facilities or additional
industrial loan facilities, as the case may be, in the community
where the proposed industrial loan company is to be located, giving
particular consideration to the adequacy of existing industrial loan
facilities in the community.
(c) The ability of the community to support the proposed
industrial loan company, giving consideration to (1) the competition
offered by existing industrial loan companies; (2) the previous
industrial loan history of the community; and (3) the opportunities
for profitable employment of industrial loan funds as indicated by
the average demand for credit, the number of potential investors, the
volume of industrial loan transactions and the business and
industries of the community with particular regard to their
stability, diversification and size.
(d) Such other facts and circumstances bearing on the proposed
industrial loan company as in the opinion of the commissioner may be
relevant.