ARTICLE 4. Distributions to Shareholders [31230. - 31233.]

Article 4 added by Stats. 1977, Ch. 1164.

§§ 31230–31233 · 4 sections

• § 31230 In this article, “distribution to its shareholders” has the meaning set forth in Corporations Code Section 166.
• § 31231 No licensee shall, except with the prior approval of the commissioner, make, or obligate itself to make, any distribution to its shareholders.
• § 31232 If the commissioner finds, with respect to an application for approval for a licensee to make, or to obligate itself to make, a distribution to its…
• § 31233 Notwithstanding the provisions of Section 31232, unless an application for approval for a licensee to make, or to obligate itself to make, a distribution to…