Statute · California Financial Code
Cal. Fin. Code § 1330 — General Provisions
Cal. Fin. Code § 1330
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 2012-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) In this section, “subject person” has the meaning set forth in subdivision (a) of Section 1329.
Citator
Cal. Fin. Code § 1330 — General Provisions is in force in the current edition of the Code, and nothing recorded condemns it.
(a) In this section, “subject person” has the meaning set forth in subdivision (a) of Section 1329.
(b) No subject person of a bank shall purchase, directly or indirectly, or be interested in the purchase of, any of the bank’s obligations or assets without the prior approval of the board of the directors of the bank and for an amount less than the then current market value. Every person violating this section shall be liable to the people of this state, for each offense, for twice the market value of the assets so purchased.