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§ 40.301. Books and Records: Standard for Keeping.

10 CA ADC § 40.301Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 10. Investment
Chapter 1. Commissioner of Business Oversight, Division of Financial Institutions
Subchapter 40. Industrial Loans
Article 3. Books and Records
10 CCR § 40.301
§ 40.301. Books and Records: Standard for Keeping.
Currentness
An industrial loan company shall maintain its books, accounts and records in accordance with generally accepted accounting principles (“GAAP”), the regulations of the Commissioner or the FDIC, and good business practice. In the event that GAAP conflict with the regulations of the Commissioner or the FDIC, the regulations of the Commissioner and the FDIC take precedence over GAAP.

Credits

Note: Authority cited: Section 18347, Financial Code. Reference: Section 18029, Financial Code.
History
1. Change without regulatory effect renumbering former section 1133 to new section 40.301 filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).
This database is current through 4/26/24 Register 2024, No. 17.
Cal. Admin. Code tit. 10, § 40.301, 10 CA ADC § 40.301
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