Home/California/Statutes/Code FIN: Financial Code - FIN/Div. 1.1.: DIVISION 1.1. BANKING/Ch. 10.: CHAPTER 10. Restrictions and Prohibited Practices/Art. 1.: ARTICLE 1. General Provisions/§ 1330.
California Statutes

§ 1330. — 1330. (Added by Stats. 2011, Ch. 243, Sec. 3.)

California § 1330.
JurisdictionCalifornia
Code FINFinancial Code - FIN
Div. 1.1.DIVISION 1.1. BANKING
Ch. 10.CHAPTER 10. Restrictions and Prohibited Practices
Art. 1.ARTICLE 1. General Provisions

This text of California § 1330. (1330. (Added by Stats. 2011, Ch. 243, Sec. 3.)) 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 § 1330. (2026).

Text

(a)In this section, “subject person” has the meaning set forth in subdivision (a) of Section 1329.
(b)No subject person of a bank shall purchase, directly or indirectly, or be interested in the purchase of, any of the bank’s obligations or assets without the prior approval of the board of the directors of the bank and for an amount less than the then current market value. Every person violating this section shall be liable to the people of this state, for each offense, for twice the market value of the assets so purchased.

Free access — add to your briefcase to read the full text and ask questions with AI

Legislative History

Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.
View on official source ↗

Cite This Page — Counsel Stack

Bluebook (online)
California § 1330., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/FIN/1330..