Statutes, codes, and regulations
California Code Of Regulations
Title 10 - InvestmentChapter 1 - Commissioner of Business Oversight, Division of Financial InstitutionsSubchapter 40 - Industrial Loans
Article 4 - Reserves
Section 40.402 - Control of Accounts Charged-off

Cal. Code Regs. tit. 10 § 40.402

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Current through Register 2024 Notice Reg. No. 52, December 27, 2024
Section 40.402 - Control of Accounts Charged-off

Accounts charged-off on which the industrial loan company intends to pursue collection efforts or expects to realize further recoveries shall be posted to a control account. Charge-offs shall remain in the control account for as long as any recoveries are being made or contemplated.

Cal. Code Regs. Tit. 10, § 40.402

1. Change without regulatory effect renumbering former section 1143 to new section 40.402 and adding new NOTE filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).

Note: Authority cited: Section 18347, Financial Code. Reference: Section 18343, Financial Code.

1. Change without regulatory effect renumbering former section 1143 to new section 40.402 and adding new Note filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).