DIVISION 1.1. BANKING 1000-1910›CHAPTER 5. Corporate Requirements 1100-1190›ARTICLE 2. Shares 1120-1122

§ 1121

California Financial Code · 2020-11 edition · updated 2026-10-04 · California

No bank or trust company after October 1, 1949, shall issue any shares before they are fully paid for.

(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

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.