California Financial Code

§ 5601

FIN § 5601 Effective Jul 6, 1984Div. 2 · Ch. 2 · Art. 3

Statute text

Before a certificate of authority is issued, the capital of the association shall be paid into the association and, in the case of stock, shall be the sum of the par or initially stated value of all shares of capital stock, plus the initial paid-in surplus. The minimum required capital shall be established by regulations, or instructions, issued by the commissioner.

Legislative history

Amended by Stats. 1984, Ch. 287, Sec. 3.5. Effective July 6, 1984.