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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 1869.
Universal Citation: CA Fin Code § 1869 (2020)
1869.
No corporation shall, either directly or indirectly, make any discount to any person for the purpose of enabling him to pay for or hold shares of its stock either subscribed for or purchased by him. Any corporation making any such discount shall forfeit to the people of the state twice the amount of such discount.
(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
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