California Statutes
§ 5868. — 5868. (Added by Stats. 1988, Ch. 718, Sec. 10.)
California·Code FIN Financial Code - FIN·Div. 2. DIVISION 2. SAVINGS ASSOCIATION LAW·Ch. 2. CHAPTER 2. Corporate Organization and Corporate Changes·Art. 10. ARTICLE 10. Mutual Holding Companies
A reorganized stock association shall have the power to issue additional amounts of capital stock to the mutual holding company of which it is a subsidiary and, in addition, to other persons an amount of capital stock and securities convertible into capital stock which in the aggregate does not exceed 49 percent of the issued and outstanding capital stock of that organized association. For the purposes of the 49 percent limitation, any issued and outstanding securities that are convertible into capital stock shall be considered issued and outstanding capital stock.
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California § 5868. (5868. (Added by Stats. 1988, Ch. 718, Sec. 10.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1988, Ch. 718, Sec. 10.