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REDWOOD THRIFT OF CAL. v. STEPHENSON

Docket No. 18402.

175 Cal.App.2d 281 (1959)

345 P.2d 979

REDWOOD THRIFT OF CALIFORNIA (a Corporation), Appellant, v. W.H. STEPHENSON, as Commissioner of Corporations, etc., Respondent.

Court of Appeals of California, First District, Division Two.

November 16, 1959.

Attorney(s) appearing for the Case

George F. Jansen for Appellant.

Stanley Mosk, Attorney General, Harold B. Haas and Victor Griffith, Deputy Attorneys General, for Respondent.

DRAPER, J.

Appellant is an industrial loan corporation. Respondent Commissioner of Corporations, on January 9, 1958, ordered appellant to make good an impairment of capital, to comply with the law limiting individual loans, and to discontinue unsafe and injurious practices. (Fin. Code, §§ 18814, 18815.) Appellant was ordered to show cause why such orders should not be made final. (Fin. Code, § 18816.) Following administrative hearing, and upon recommendation...

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