DIVISION 1.1. BANKING 1000-1910›CHAPTER 21. International and Foreign Banking and Financing 1850-1910›ARTICLE 1. International and Foreign Banking and Financing Corporations 1850-1897

§ 1869

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

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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California Financial Code

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