{"code":"FIN","codeName":"Financial Code","section":"1002","citation":"Fin. Code, § 1002","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 1.1. BANKING [1000. - 1910.]","url":"https://blackletter.si/financial-code/division-1.1"},{"name":"CHAPTER 1. General Provisions [1000. - 1008.]","url":"https://blackletter.si/financial-code/division-1.1/chapter-1"}],"history":"Added by Stats. 2011, Ch. 243, Sec. 3.   (SB 664)   Effective January 1, 2012.","effective":"2012-01-01","html":"<p>No bank shall be a close corporation (as defined in Section <a href=\"/corp/158\">158</a> of the Corporations Code).</p>","text":"No bank shall be a close corporation (as defined in Section 158 of the Corporations Code).","otherVersions":[],"url":"https://blackletter.si/financial-code/general-provisions-1002","source":"California Legislative Information bulk export (pubinfo)"}