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2020 California Code
Financial Code - FIN
DIVISION 1.1 - BANKING
CHAPTER 21 - International and Foreign Banking and Financing
ARTICLE 1 - International and Foreign Banking and Financing Corporations
Section 1858.
Universal Citation: CA Fin Code § 1858 (2020)
1858.
Nothing contained in this article shall prevent corporations from purchasing and holding stock in any corporation where such purchase shall be necessary to prevent a loss upon a debt previously contracted in good faith; and stock so purchased or acquired in corporations shall within six months from such purchase be sold or disposed of at public or private sale unless the time to so dispose of same is extended by the commissioner.
(Amended by Stats. 2013, Ch. 334, Sec. 45. (SB 537) Effective January 1, 2014.)
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