California Legal Codes and Statutes

§ 1869

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

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.

Cite this section

Cal. Fin. Code § 1869 (2026)
https://ca.codecond.com/codes/fin/division-1-1-banking/chapter-21-international-and-foreign-banking-and-financing/article-1-international-and-foreign-banking-and-financing-corporations/section-1869

Other sections in Article 1 - International and Foreign Banking and Financing Corporations

§ 1850§ 1851§ 1852§ 1853§ 1854§ 1855§ 1856§ 1857§ 1858§ 1859…§ 1888§ 1889§ 1890§ 1891§ 1892§ 1893§ 1894§ 1895§ 1896§ 1897

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