Fin. Code, § 1122 · Article 2. Shares

Fin. Code, § 1122

Verbatim from the official edition

Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)

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.

Notes and commentary — not statutory text

History

Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.

Source of truth

Edition: As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
Official file: https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN&sectionNum=1122.
Text hash: sha256 c6075d54fa12064256529124a2efd1350a8bf5d3f07cb5e7b3cf6ecf363dae2d
Composed by: compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section

Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.