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

California Statutes

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

California § 1858.

JurisdictionCalifornia

Code FINFinancial 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

This text of California § 1858. (1858. (Amended by Stats. 2013, Ch. 334, Sec. 45.)) 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 § 1858. (2026).

Text

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.