{"code":"FIN","codeName":"Financial Code","section":"1122","citation":"Fin. Code, § 1122","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 5. Corporate Requirements [1100. - 1190.]","url":"https://blackletter.si/financial-code/division-1.1/chapter-5"},{"name":"ARTICLE 2. Shares [1120. - 1122.]","url":"https://blackletter.si/financial-code/division-1.1/chapter-5/article-2"}],"history":"Added by Stats. 2011, Ch. 243, Sec. 3.   (SB 664)   Effective January 1, 2012.","effective":"2012-01-01","html":"<p>No bank shall issue any shares in consideration of:</p><p>(a) Services rendered in the organization of such bank; or</p><p>(b) Any note (whether or not negotiable and whether or not secured) made by the purchaser of such shares.</p>","text":"No bank shall issue any shares in consideration of: (a) Services rendered in the organization of such bank; or (b) Any note (whether or not negotiable and whether or not secured) made by the purchaser of such shares.","otherVersions":[],"url":"https://blackletter.si/financial-code/shares-1122","source":"California Legislative Information bulk export (pubinfo)"}