Statute · California Financial Code
Cal. Fin. Code § 1869 — International and Foreign Banking and Financing Corporations
Cal. Fin. Code § 1869
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 2012-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
No corporation shall, either directly or indirectly, make any discount to any person for the purpose of enabling him to pay for or hold shares of its stock either subscribed for or purchased by him. Any corporation making any such discount shall forfeit to the people of the state twice the…
Citator
Cal. Fin. Code § 1869 — International and Foreign Banking and Financing Corporations is in force in the current edition of the Code, and nothing recorded condemns it.
No corporation shall, either directly or indirectly, make any discount to any person for the purpose of enabling him to pay for or hold shares of its stock either subscribed for or purchased by him. Any corporation making any such discount shall forfeit to the people of the state twice the amount of such discount.