{"code":"FIN","codeName":"Financial Code","section":"1868","citation":"Fin. Code, § 1868","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 21. International and Foreign Banking and Financing [1850. - 1910.]","url":"https://blackletter.si/financial-code/division-1.1/chapter-21"},{"name":"ARTICLE 1. International and Foreign Banking and Financing Corporations [1850. - 1897.]","url":"https://blackletter.si/financial-code/division-1.1/chapter-21/article-1"}],"history":"Added by Stats. 2011, Ch. 243, Sec. 3.   (SB 664)   Effective January 1, 2012.","effective":"2012-01-01","html":"<p>No corporation shall be the holder of any shares of its own capital stock unless such stock shall have been taken to prevent loss upon a debt previously contracted in good faith, and stock so acquired shall, within six months from the time of its acquisition, be sold or disposed of at public or private sale.</p>","text":"No corporation shall be the holder of any shares of its own capital stock unless such stock shall have been taken to prevent loss upon a debt previously contracted in good faith, and stock so acquired shall, within six months from the time of its acquisition, be sold or disposed of at public or private sale.","otherVersions":[],"url":"https://blackletter.si/financial-code/international-and-foreign-banking-and-financing-corporations-1868","source":"California Legislative Information bulk export (pubinfo)"}