California Financial Code

§ 7252

FIN § 7252Div. 2 · Ch. 6 · Art. 2

Statute text

(a)Notwithstanding any other provisions of this chapter, an association may, subject to regulations of the commissioner, invest in the capital stock, obligations, or other securities of service corporations.

(b)The total of all investments under this section shall not exceed 10 percent of the total assets of the savings association.

(c)A service corporation in which a savings association may invest shall only engage in those activities reasonably related to the activities of savings associations as the commissioner may approve.

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Legislative history

Amended by Stats. 1990, Ch. 1118, Sec. 40.