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California Financial Code

§ 1047

FIN § 1047 Effective Jan 1, 2012Div. 1.1 · Ch. 3

Statute text

View on leginfo.ca.gov
It is unlawful to apply any part of the funds collected from subscribers or shareholders to the payment of commissions or fees for obtaining subscriptions or selling shares or, except with the prior approval of the commissioner, to the payment of preopening noncapital expenditures.

Legislative history

Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.

Source: California Financial Code § 1047 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.