Statute · California Financial Code
Cal. Fin. Code § 1122 — Shares
Cal. Fin. Code § 1122
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 2012-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
No bank shall issue any shares in consideration of:
Citator
Cal. Fin. Code § 1122 — Shares is in force in the current edition of the Code, and nothing recorded condemns it.
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.