California Financial Code

§ 5401

FIN § 5401Div. 2 · Ch. 2 · Art. 1

Statute text

The application for an organizing permit shall be in writing and shall be filed in the office of the commissioner. The application shall be executed and verified by the chairman of the organizers, who shall be elected by a majority vote of the organizers, and shall include the following:

(a)The names and addresses of the organizers of the proposed association and, to the extent known, its proposed directors and officers, together with the proposed amount of capital stock and savings accounts to be purchased and funds for organization expenses to be contributed by each.

(b)The proposed location of its office.

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Legislative history

Added by Stats. 1983, Ch. 1091, Sec. 2.