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Cal. Fin. Code § 1122 | Midpage
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California Codes
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§ 1122
Cal. Fin. Code § 1122
1122
Effective Jan 1, 2012
Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.
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.