Cal. Fin. Code § 253

Current through the 2023 Legislative Session.

Section 253 - Assessment on common shares of subject institution

In case the board of a subject institution has, prior to January 1, 1979, adopted a resolution levying an assessment on the common shares of such subject institution in accordance with an order issued by the commissioner pursuant to Section 661 of the prior Banking Law:

(a) If the assessment has, prior to January 1, 1979, become a lien on the common shares in accordance with Section 2704 of the prior General Corporation Law, the assessment shall be collected pursuant to the prior General Corporation Law:

(b) Otherwise, the resolution shall be deemed to be rescinded on January 1, 1979.

Ca. Fin. Code § 253

Added by Stats 2011 ch 243 (SB 664),s 2, eff. 1/1/2012.