BlackletterCalifornia law

Financial Code § 31231

ARTICLE 4. Distributions to Shareholders

Current as of September 28, 2026Fin. Code, § 31231Official source ↗

Amended by Stats. 1996, Ch. 1064, Sec. 652. Effective January 1, 1997. Operative July 1, 1997.

No licensee shall, except with the prior approval of the commissioner, make, or obligate itself to make, any distribution to its shareholders.