California Financial Code

§ 1856

FIN § 1856 Effective Jan 1, 2012Div. 1.1 · Ch. 21 · Art. 1

Statute text

Except with the approval of the commissioner, no corporation shall invest in any one corporation an amount in excess of 10 percent of its own shareholders’ equity, except in a corporation engaged in the business of banking, when 15 percent of its shareholders’ equity may be so invested.

Legislative history

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