California Statutes
§ 5400. — 5400. (Added by Stats. 1983, Ch. 1091, Sec. 2.)
California·Code FIN Financial Code - FIN·Div. 2. DIVISION 2. SAVINGS ASSOCIATION LAW·Ch. 2. CHAPTER 2. Corporate Organization and Corporate Changes·Art. 1. ARTICLE 1. Organizing Permit
(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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California § 5400. (5400. (Added by Stats. 1983, Ch. 1091, Sec. 2.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1983, Ch. 1091, Sec. 2.