California Financial Code

§ 1122

Name: California Superior Court Tentative Rulings
Creator: DecisionDepot
License: https://creativecommons.org/licenses/by-nc/4.0/

FIN § 1122 Effective Jan 1, 2012Div. 1.1 · Ch. 5 · Art. 2

No bank shall issue any shares in consideration of:

(a)Services rendered in the organization of such bank; or

(b)Any note (whether or not negotiable and whether or not secured) made by the purchaser of such shares.

Legislative history

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