California § 5400. 5400. (Added by Stats. 1983, Ch. 1091, Sec. 2.)

California Statutes

§ 5400. — 5400. (Added by Stats. 1983, Ch. 1091, Sec. 2.)

California § 5400.

JurisdictionCalifornia

Code FINFinancial Code - FIN

Div. 2.DIVISION 2. SAVINGS ASSOCIATION LAW

Ch. 2.CHAPTER 2. Corporate Organization and Corporate Changes

Art. 1.ARTICLE 1. Organizing Permit

This text of California § 5400. (5400. (Added by Stats. 1983, Ch. 1091, Sec. 2.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Financial Code - FIN Code § 5400. (2026).

Text

(a)No funds from proposed stockholders, members, or organizers of any proposed association may be collected until a verified application for an organizing permit has been filed and a permit has been issued by the commissioner authorizing collection of funds, and then only in accordance with the terms of the permit.

(b)As used in this chapter, the term “organizer” means a person who agrees to contribute funds to a proposed association to be used for its organization expenses.

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(a)
No funds from proposed stockholders, members, or organizers of any proposed association may be collected until a verified application for an organizing permit has been filed and a permit has been issued by the commissioner authorizing collection of funds, and then only in accordance with the terms of the permit.
(b)
As used in this chapter, the term “organizer” means a person who agrees to contribute funds to a proposed association to be used for its organization expenses.

Legislative History

Added by Stats. 1983, Ch. 1091, Sec. 2.

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