Statute · California Financial Code
Cal. Fin. Code § 1858 — International and Foreign Banking and Financing Corporations
Cal. Fin. Code § 1858
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 2014-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Nothing contained in this article shall prevent corporations from purchasing and holding stock in any corporation where such purchase shall be necessary to prevent a loss upon a debt previously contracted in good faith; and stock so purchased or acquired in corporations shall within six months…
Citator
Cal. Fin. Code § 1858 — International and Foreign Banking and Financing Corporations is in force in the current edition of the Code, and nothing recorded condemns it.
Nothing contained in this article shall prevent corporations from purchasing and holding stock in any corporation where such purchase shall be necessary to prevent a loss upon a debt previously contracted in good faith; and stock so purchased or acquired in corporations shall within six months from such purchase be sold or disposed of at public or private sale unless the time to so dispose of same is extended by the commissioner.