Fin. Code, § 31231 · Article 4. Distributions to Shareholders

Fin. Code, § 31231

Verbatim from the official edition

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

No licensee shall, except with the prior approval of the commissioner, make, or obligate itself to make, any distribution to its shareholders.

Notes and commentary — not statutory text

History

Amended by Stats. 1996, Ch. 1064, Sec. 652. Effective January 1, 1997. Operative July 1, 1997.

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=31231.
Text hash: sha256 650e9fe7a73dcd6b865d87c9fa93a66514471807d4c0bc6a75aad4fd9099288d
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.