Cal. Fin. Code § 31231

Current through the 2023 Legislative Session.

Section 31231 - Approval of commissioner required

No licensee shall, except with the prior approval of the commissioner, make, or obligate itself to make, any distribution to its shareholders.

Ca. Fin. Code § 31231

Amended by Stats. 1996, Ch. 1064, Sec. 652. Effective January 1, 1997. Operative July 1, 1997.