Section 18665 Of Article 1. General Provisions From California Financial Code >> Division 7. >> Chapter 10. >> Article 1.
18665
. (a) Any foreign (other state) industrial loan company is
exempted from the restrictions of Section 1 of Article XV of the
California Constitution relating to rates of interest upon the loan
or forbearance of any money, goods, or things in action or on
accounts after demand.
(b) This section does not exempt a foreign (other state)
industrial loan company or any subsidiary, as defined in Section 189
of the Corporations Code, from complying with all other laws and
regulations governing the business in which the industrial loan
company or subsidiary is engaged.
(c) This section creates and authorizes an exempt class of persons
pursuant to Section 1 of Article XV of the California Constitution.