{"code":"FIN","codeName":"Financial Code","section":"31231","citation":"Fin. Code, § 31231","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 15. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS [31000. - 31952.]","url":"https://blackletter.si/financial-code/division-15"},{"name":"CHAPTER 4. Corporate Matters [31200. - 31233.]","url":"https://blackletter.si/financial-code/division-15/chapter-4"},{"name":"ARTICLE 4. Distributions to Shareholders [31230. - 31233.]","url":"https://blackletter.si/financial-code/division-15/chapter-4/article-4"}],"history":"Amended by Stats. 1996, Ch. 1064, Sec. 652.   Effective January 1, 1997.   Operative July 1, 1997.","effective":"1997-01-01","html":"<p>No licensee shall, except with the prior approval of the commissioner, make, or obligate itself to make, any distribution to its shareholders.</p>","text":"No licensee shall, except with the prior approval of the commissioner, make, or obligate itself to make, any distribution to its shareholders.","otherVersions":[],"url":"https://blackletter.si/financial-code/distributions-to-shareholders-31231","source":"California Legislative Information bulk export (pubinfo)"}