California Financial Code

§ 5603

FIN § 5603Div. 2 · Ch. 2 · Art. 3

Statute text

In the case of a stock association, prior to issuance of a certificate of authority, the association shall file with the commissioner a statement in a form and with supporting data and proof that the commissioner may require, that verifies that the entire capital and paid-in surplus has been unconditionally paid in, that these funds are on deposit with the depository financial institution, and that all conditions contained in the notice of conditional approval of the petition for a certificate of authority have been met.

Legislative history

Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.