There is a newer version of the California Code
2011 California Code
Financial Code
DIVISION 1.1. BANKING [1000 - 1910]
ARTICLE 1. International and Foreign Banking and Financing Corporations
Section 1868
CA Fin Code § 1868 (through 2012 Leg Sess) What's This?
No corporation shall be the holder of any shares of its own capital stock unless such stock shall have been taken to prevent loss upon a debt previously contracted in good faith, and stock so acquired shall, within six months from the time of its acquisition, be sold or disposed of at public or private sale.
(Added by Stats. 2011, Ch. 243, Sec. 3. Effective January 1, 2012.)
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