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CALIFORNIA CORPORATE & SECURITIES LAW

Commissioner Finds Funding Is Not A Sine Qua Non For Lender Status

The California Department of Business Oversight administers and enforces the California Finance Lenders Law, Cal. Fin. Code § 22000 et seq.  The CFLL prohibits any person from engaging in the business of a “finance lender” without a license, unless otherwise exempt.  Cal. Fin. Code § 22100(a).  The CFLL provides the following definition of “finance lender”:…

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Legislature (Re)Enacts A Maximum De Minimis Finance Lenders Law Exemption

The California Finance Lenders Law defines a “finance lender” as anyone that is engaged in the business of making consumer loans or making commercial loans.  Cal. Fin. Code § 22009.  Knowing the definition of “finance lender” is important because California imposes a license requirement on anyone engaged in the business of a finance lender. Cal. Fin.…

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