California Statutes
§ 1122. — 1122. (Added by Stats. 2011, Ch. 243, Sec. 3.)
California·Code FIN Financial Code - FIN·Div. 1.1. DIVISION 1.1. BANKING·Ch. 5. CHAPTER 5. Corporate Requirements·Art. 2. ARTICLE 2. Shares
No bank shall issue any shares in consideration of:
(a)Services rendered in the organization of such bank; or
(b)Any note (whether or not negotiable and whether or not secured) made by the purchaser of such shares.
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California § 1122. (1122. (Added by Stats. 2011, Ch. 243, Sec. 3.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.