Cal. Code Regs. tit. 10 § 260.141

Current through Register 2024 Notice Reg. No. 50, December 13, 2024

Section 260.141 - Waiver of Assets and Dividends

Until such conditions are removed by order of the Commissioner, normally all promotional shares should be subject to the conditions that the holders thereof waive all rights:

(a) To receive cash or property dividends; and

(b) To participate in any distribution of assets, in the event of liquidation.

Cal. Code Regs. Tit. 10, § 260.141