DIVISION 7. INDUSTRIAL LOAN COMPANIES 18000-18707›CHAPTER 4. Investment Certificates 18315-18325

§ 18317

California Financial Code · 2018-11 edition · updated 2026-10-04 · California

No company may have investment certificates outstanding with a person or related persons in an aggregate amount in excess of 20 percent of the unimpaired capital stock and surplus of the company not available for dividends as provided in Section 18319.

(Amended by Stats. 1989, Ch. 663, Sec. 10. Operative January 1, 1991, by Sec. 20 of Ch. 663.)

Get a plain-English answer with a citation back to this text.

Ask AI about this code

Export this section

▸Contents — California Financial Code

California Financial Code

GoCodebook provides public access, search, citation, multilingual explanation, and practical interpretation of legally adopted building regulations. It is not a substitute for the official ICC or California code publications.