Section 80.8104 - Information Regarding Directors and Executive Officers(a) In this Section, to be "indebted" does not include indebtedness on account of any of the following: (1) Any amount due for purchases subject to usual trade terms, for ordinary travel and expense advances, or for other transactions in the ordinary course of business.(2) Any loan made by a bank, savings and loan association, industrial loan company, or securities broker-dealer extending credit under Regulation T of the Board of Governors of the Federal Reserve System, provided that such loans is made in the ordinary course of business, is made on substantially the same terms (including interest rate and collateral) as those prevailing at the time for comparable transactions with other persons, and does not involve more than normal risk of collectibility or present other unfavorable features.(b) Provide a list showing, with respect to each person who was a director or executive officer of the licensee at the end of the fiscal year: (2) Title of each position held with the licensee.(c) Identify the executive officer of the licensee who is in charge of the payment instrument business of the licensee.(d) In case the licensee is neither a reporting company nor a bank nor a savings and loan association, if any person who at the end of the fiscal year was, or was an associate of, any director or executive officer of the licensee was at any time during the fiscal year indebted to the licensee or the licensee's subsidiaries (except any subsidiary which is a bank, savings and loan association, industrial loan company, or broker/dealer in securities extending credit under Regulation T of the Board of Governors of the Federal Reserve System) in an amount which in the aggregate exceeds $25,000 or 1 percent of the licensee's total assets, whichever is less, provide the following information: (1) Identify the person, and describe the person's relationship to the licensee.(2) Describe the nature of the indebtedness and of the transaction in which it was incurred.(3) State the highest aggregate amount of the indebtedness outstanding at any time during the fiscal year.(4) State the aggregate amount of the indebtedness currently outstanding.(5) State the rate of interest paid or charged on the indebtedness.Cal. Code Regs. Tit. 10, § 80.8104
1. Amendment of subsections (a)(2) and (d) filed 4-7-97; operative 4-7-97 pursuant to Government Code section 11343.4(d) (Register 97, No. 15). Note: Authority cited: Section 33202, Financial Code. Reference: Sections 33221 and 33901, Financial Code.
1. Amendment of subsections (a)(2) and (d) filed 4-7-97; operative 4-7-97 pursuant to Government Code section 11343.4(d) (Register 97, No. 15).