California § 1858. 1858. (Amended by Stats. 2013, Ch. 334, Sec. 45.)

California Statutes

§ 1858. — 1858. (Amended by Stats. 2013, Ch. 334, Sec. 45.)

California·Code FIN Financial Code - FIN·Div. 1.1. DIVISION 1.1. BANKING·Ch. 21. CHAPTER 21. International and Foreign Banking and Financing·Art. 1. ARTICLE 1. International and Foreign Banking and Financing Corporations

Nothing contained in this article shall prevent corporations from purchasing and holding stock in any corporation where such purchase shall be necessary to prevent a loss upon a debt previously contracted in good faith; and stock so purchased or acquired in corporations shall within six months from such purchase be sold or disposed of at public or private sale unless the time to so dispose of same is extended by the commissioner.

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Nothing contained in this article shall prevent corporations from purchasing and holding stock in any corporation where such purchase shall be necessary to prevent a loss upon a debt previously contracted in good faith; and stock so purchased or acquired in corporations shall within six months from such purchase be sold or disposed of at public or private sale unless the time to so dispose of same is extended by the commissioner.

California § 1858. (1858. (Amended by Stats. 2013, Ch. 334, Sec. 45.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.