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2011 California Code
Financial Code
DIVISION 1.1. BANKING [1000 - 1910]
ARTICLE 2. Shares
Section 1122


CA Fin Code § 1122 (through 2012 Leg Sess) What's This?

No bank shall issue any shares in consideration of:

(a) Services rendered in the organization of such bank; or

(b) Any note (whether or not negotiable and whether or not secured) made by the purchaser of such shares.

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

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