Is Plantation Car Loan a Legal Company?

Whether the plantation car loan company is legal depends on whether it has the relevant financial license. For example, if the parent company has the relevant loan financial license and the car loan company is a subsidiary, then the car loan company is legal in this case. However, it is illegal for a car loan company to operate independently and lend privately without a relevant financial license.

Legal basis: Article 23 of the Company Law: To establish a limited liability company, the following conditions shall be met:

(1) Shareholders meet the quorum;

(2) The capital contribution subscribed by all shareholders in accordance with the Articles of Association;

(3) Shareholders * * * agree to formulate the Articles of Association;

(4) Having a company name and establishing an organization meeting the requirements of a limited liability company;

(5) Having a company domicile.